16 Mar 12:00
Reservation price – Safe protection or a brake on bidding?
Setting a reserve price often sounds obvious. It feels safe, rational and responsible. You don’t want to “give away” your car, especially if you’ve invested money, time and heart into it. But in the auction world, the reserve price is much more than a minimum level. It’s a strategic parameter that can affect the entire dynamics of the auction – from how many people dare to get involved to how high the final price can actually be.
