Question about AUCTIONs

dimirpaw

dimirpaw

Lion's Arch Merchant

Join Date: Dec 2005

Canada/Alberta/Edmonton

I just wanted to know what this ment.

Reserve price : Yes (Reserve price has NOT been met)

What would that mean? I made a bid on this auction: http://www.guildwarsguru.com/auction/item.php?id=8488

Did I win?

brokenkey

Ascalonian Squire

Join Date: Oct 2005

N/Me

No, you didn't win, because the amount you bidded did not reach or exceed the reserve price that the seller had set. If the bids don't reach the reserve price, the auction is null and void.

Gli

Forge Runner

Join Date: Nov 2005

A reserve price is a hidden value the seller may add. If the final price doesn't meet the reserve, the seller can decide to sell or not sell, whatever he wants. The auction isn't automatically null and void because the reserve isn't met. The high bidder can still be held to his bid. It's a common misperception that not meeting the reserve means your bid is void.

Not setting a reserve obliges the seller to go through with the sale even if he thinks the final price is too low. Some people set a ridiculously high reserve price just to keep their options open. (Like, selling in game or through another venue.) If the reserve won't ever be met, the seller will always have a way out, which is convenient if you already sold the item.

dimirpaw

dimirpaw

Lion's Arch Merchant

Join Date: Dec 2005

Canada/Alberta/Edmonton

Oh ok, I really needed a sword too. Oh well, thanks for telling me anyways.

Sekkira

Sekkira

Forge Runner

Join Date: Apr 2005

Canberra, AU

If he doesn't sell it to you, I'd say he wouldn't find it going for anywhere near as much as you offered.