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Wed, Nov 26th - 11:17AM
Reserves Are Like "OBO"
You see them all the time, used cars parked on the side of the road with a "For Sale" sign:
New tires, new carburetor, new tags, RUNS GREAT! - $2,500 OBO
You can think of those last two items as two of the amounts featured on Auction Central:
- "$2,500" = "Buy Now!" (Click the link and win the bid immediately.)
- "OBO" = "Reserve"
Anyone who's sold a vehicle with "OBO" tacked on to the end of the asking price knows that OBO doesn't necessarily mean the highest offer. The offer has to at least meet the unstated minimum that the seller wants for the vehicle. That's when negotiations ensue.
For those who feel that it's unfair not to clearly state the reserve, or to make the minimum bid amount match, we encourage you to check out online auction giant eBay's related help page.
Hint: If you can automatically take an item for a "Buy Now!" amount, the reserve can't be any higher. Bid a little more AP. Who knows, perhaps the next bid will put you over the reserve.
Any questions about Auction Central? Ask them via a comment below!
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