People Asking For The Reserve Price?
  • Flippa states "The reserve price may not be made public by any means". But in almost every listing I've seen, there are people who ask for the Reserve Price. They usually post something like "Can you please PM me your Reserve Price?"

    So how do you repond to people who ask for the Reserve Price, even though revealing it is against Flippa's TOS?
    Post edited by Unknown User at 2010-06-26 03:25:38
  • Why not just say it's against Flippa's TOS to reveal the reserve price?

    You should never reveal it.
  • sorry for asking this.. can you in a few words describe what exactly is the reserve price, and why it should not be revealed publicly?
  • [quote="lonicera"]
    sorry for asking this.. can you in a few words describe what exactly is the reserve price, and why it should not be revealed publicly?


    No need to apologize for asking.

    The reserve price on flippa is a hidden price that the seller sets. If the auctions ends and the bids have not exceeded the reserve price then no one wins and the seller keeps the website.

    You shouldn't reveal it publicly because it's going to lead to less bids and probably less money for the seller. A potential bidder doesn't know if the reserve price is $100 or $5000. When looking at your listing they could have a set amount in their head that they are willing to pay, lets say they would bid up to $500 for your listing. They ask you, either in the comments or by sending you a pm, what the reserve price is. You tell them the reserve price is $750 and they end up NOT bidding on your auction because the reserve price is higher than they are willing to go. Even worse, if you post it publicly in the comments, all future potential bidders see the reserve price and because of that many will not bid if it's more than they are willing to pay.

    Obviously these potential bidders are wanting to get the website for less than what you are willing to sell it for (hence the $750 reserve when the bidder only wants to bid up to $500), but what we want from them is for them to bid anyways. Even if they stop before the reserve has been met. The more bids you get, the higher up in the active listings you go and the more exposure your listing will get. Also the more bids it gets the more social proof your auction gets. If a listing is getting a ton of bids then others will feel more comfortable bidding on it. The serious buyers will have a better chance to find your auction (from the active listings section) and ultimately you will make more money.

    I know you asked for only a few words, but a response deserved more than that. :)