What's a reserve price for?

What's a reserve price for?

So lowballers don't get to buy an uber l33t weapon of pwnage for only 1k.

sry to sound dumb but I still don't understand... What does it do exactly, if the starting price is 1k, and reserve is 10k lets say, wut's that mean?

It means buyers have to either bid 10k or higher for the seller to sell the item. The reserve prevents the seller from selling it at a low price (In the seller's opinion).

ooooic so you mean like, If the bid starts at 2k, but you want at least 10k out of it, it wont count as a sell unless the item hits 10k?

I hate reserve prices. Ive been burned by it several times. Needless to say I dont bid on stuff with reserve prices anymore.

Yes.

(5chars)

I've always wondered what the point is. Why not just have the minimum bid = the reserve price? a waste of time IMO

some ppl like a small s/b to get the auction started and pumped besides it starts bump'n for the saler i really dont mind reserve but i hate when its hidden