eBay Adds Ability to Lower Reserve Price After Bid Placed

[amy]

***Coming Soon: Ability to Lower Reserve Price Even After Bids are Placed*** 

August 16, 2005

In the next few weeks, sellers will be able to lower their Reserve Price on a listing on www.ebay.com, even after bids have been placed, to make their item more likely to sell. This option is already available on eBay Motors and on eBay UK, and is now being extended to the US eBay site.

How it works
Regardless of whether a bid has been placed, you will be able to adjust your Reserve Price through the “Revise Your Item” process as long as 12 hours or more remain in your listing. The Reserve can be reduced downwards to a minimum of one bid increment above the listing’s current price. Once the Reserve Price has been lowered, bidders will receive notification about the change through email, My eBay, and on the item page.

[bargainbloodhound]

Or, you could just set your opening bid at the lowest price you are willing to accept for the item and save yourself from paying a bloated reserve price fee. 

[thentavius]

Does anyone even use reserve auctions anymore?

I'm gonna auction like it's 1999...