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    Auctions: Difference between "Starting Bid" and "Reserve Price"

    I'm wanting to list a domain for the 7-day auction. If someone bids below the "starting bid" amount, will the domain be sold if I don't set a Reserve that's higher than the "starting bid"

    1 ACCEPTED SOLUTION
    justingodfrey
    Rockstar II


    @FiniteState wrote:

    I'm wanting to list a domain for the 7-day auction. If someone bids below the "starting bid" amount, will the domain be sold if I don't set a Reserve that's higher than the "starting bid"


    @FiniteState The starting price is the price that you want the auction to start at and is basically the minimum amount that someone can bid. The reserve price is the price that you want to get for the domain. So let's say you don't want to sell your domain name for less than $100, you would set the reserve price for $100, and if you wanted the opening bid to be $20 then the starting bid would be $20.

     

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    2 REPLIES 2
    justingodfrey
    Rockstar II


    @FiniteState wrote:

    I'm wanting to list a domain for the 7-day auction. If someone bids below the "starting bid" amount, will the domain be sold if I don't set a Reserve that's higher than the "starting bid"


    @FiniteState The starting price is the price that you want the auction to start at and is basically the minimum amount that someone can bid. The reserve price is the price that you want to get for the domain. So let's say you don't want to sell your domain name for less than $100, you would set the reserve price for $100, and if you wanted the opening bid to be $20 then the starting bid would be $20.

     

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    Thank you. My only auction experience is with cars, where the only way to get your price is to set a reserve. It doesn't matter where the bidding starts at in that world, if for some reason the auctioneer decides to start going lower because of no response to the starting bid, your lot can go for less than the start. In reality that almost never happens with collector cars, but domain values look to me like a total crap shoot.