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Originally Posted by Philly Dog is a reserve and a min. bid the same? |
Not necessarily... a seller can set a reserve bid as the prince which is the lowest he's willing to sell the item (not shown to buyers) but set a lower minimum bid below that. If the auction ends and the highest bid is lower than the reserve bid, he can refuse to sell the item if he chooses within eBay rules (also has the option to sell to the highest bidder anyway or negotiate a price with the highest bidder).
If you set no reserve, effectively the minimum opening bid is the reserve.
