(last updated on 5/31/2005)
We encourage the seller to set the Starting Bid for his auction at the lowest price at which he is comfortable selling the item. Bidders cannot place a bid that is lower than the Starting Bid. An item may draw a higher price than the Starting Bid.
The seller can set an optional Reserve Price. Reserve Price auctions are explained in the next section.
Note: We get a lot of complaints about Reserve Price auctions. Many bidders will not bid on a Reserve Price auction. Rather than set a Reserve Price, we recommend that you set the Starting Bid to the least amount you are willing to sell the item for.