Seller and “ no reserve” and “ minimum bid” listed??

In auctions the No Reserve amount is hidden. The seller may have chosen an opening bid amount of, say, $50, and a Reserve amount of $100. When a bid is placed for less than the Reserve amount a notice comes up stating the reserve has not been met. The Reserve amount is not revealed until a bid is placed for at least that amount.

Wouldn’t “no reserve “ mean no reserve nothing hidden . I realize a Reserve is hidden in most auctions but no reserve I thought meant any bid as long as it was the highest bid?

Foot-In-the Door Marketing

I have been swept up in this many a time.

Understanding “No Reserve” Auctions

A “no reserve” auction, sometimes referred to as an “absolute auction,” means the item will be sold to the highest bidder, regardless of the final price. The seller commits to accepting the top bid, no matter how low it might be. This format is distinguished by the absence of a minimum selling price.

In contrast, an auction “with reserve” involves a confidential minimum price set by the seller. If bidding does not reach this predetermined reserve price, the seller is not obligated to sell the item, and it may be withdrawn. The “no reserve” condition eliminates this uncertainty, providing clear assurance that the item will change hands. This commitment is legally binding, ensuring the highest bidder will acquire the item.

There you go.