Martin

Reserve Price

Hi Guys, another Problem. If seller set reserve price for example 10€, and buyer input for example 12€. When Auction is ending and the price is 8€, then is the offer Reserve Price Not Met. And the buyer gets not offer. Another bug?

Created: June 18, 2015 at 7:06 pm
  • In: Auction Theme
  • Started by: MartinMartin
  • 4 members left 7 comments
  • Last reply from: Mark FailMark Fail

  • Martin
    Martin
    June 19, 2015 at 6:32 pm

    Anybody know what i mean?

  • Martin
    Martin
    June 21, 2015 at 1:45 pm

    Mark do you know this Problem?

  • Martin
    Martin
    June 23, 2015 at 4:27 pm

    ??? Please Help me.

  • James
    James
    June 24, 2015 at 11:39 am

    Hi Martin, From my understanding the way this works is that the bidders max bid will increase at the end of the auction… so if the sellers reserve is lets say $20 and the bidder places a max bid of $30 then at the end of the auction the bidders bid will increase to meet the sellers reserve of $20 and the bidder wins the auction.

  • Martin
    Martin
    June 26, 2015 at 7:35 pm

    The Reserve Price is for example 15€. Bidders max Bid is 20€. Before the offer is ending, the price is 10€. The offer is now complete , the price is not increased to 15 €, and it is the message :

    This auction has ended.
    Reserve Price Not Met

  • Mark
    Mark
    June 26, 2015 at 10:56 pm

    @Martin, that is a standard auction process as the last bid was 10€ it did not meet the reserve of 15€. It does not matter what is set as max bid as the max bid applies only for ‘active’ bidding. You have to look at it from a different perspective where there are multiple bidders involved (not just one).

    Scenario 1:
    There are two bidders and item with reserve price of 15€. Bidder 1 has max bid set to 20€ and bidder 2 has max bid set to 30€. Bidder 2 would win the auction with a final bid of 21€ (which is 1€ higher than the bidder 1’s max bid of 20€) – as it is more than the reserve price he would get the item.

    Scenario 2:
    There are two bidders and item with reserve price of 15€. Bidder 1 has max bid set to 20€ and bidder 2 has max bid set to 10€. Bidder 1 would win the auction with a final bid of 11€ (which is 1€ higher than the bidder 2’s max bid of 10€) – as it is less than the reserve price he would not get the item.

    As you can see from those two scenarios, the max bid is taken into account only during the bidding process in relation to other bidders.

  • Mark Fail
    Mark Fail
    June 27, 2015 at 4:41 am

    @Mark, thanks.


Viewing 8 posts - 1 through 8 (of 8 total)