Peter C. wrote: "What does it mean when someone asks me what my reserve
price is on something? Should I answer? And how? "
Should you answer? Entirely up to your discretion. Should you reveal
it to a single party? Absolutely not! That is the entire for an
"auction" and "reserve". Otherwise, you could simply start your auction
at that reserve or "minimum" price. OK, eBay ain't Christies or
Sothbys, but they sure don't reveal to the bidders what the seller's
reserve price.
When, at its very beginning, I was very active on eBay, I would simply
say that the reserve policy was not to reveal it until it had been
reached or in special circumstances, after the auction.
Buster
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