Minimum selling price
ℹ️ What is Minimum selling price (Reserve price)?
A Minimum selling price - reserve price is the minimum price you are willing to accept for an auction item. If bidding does not reach this price, the item will not be sold, even if there are bids.
If the highest bid is below the reserve price, the auction has no winner.
🛠️ Set up Reserve price
Open the app > click Auctions > create a new auction or open an existing auction
In Additional options section, turn on Minimum selling price
The item will only sell if the final bid reaches this price
There are 2 ways to place the buy out price:
Fixed: you place a price you want. For example: 500$
Percentage: the reserve price will be calculated based on the product original price. For example: 80%
Tick on checkbox Show minimum price to bidders (optional)
Click Save to update the changes
✅ How the Minimum selling price Works
You set a Minimum selling price when creating the auction
The auction runs and customers place bids
When the auction ends:
If the highest bid meets or exceeds the Minimum selling price → winner is selected
If the highest bid is below Minimum selling price → no winner
Example
Auction settings
Starting price: $50
Minimum selling price: $200
Scenario 1: Minimum selling price met
Highest bid: $220
✅ Result:
Auction has a winner
Winner completes checkout at $220
Scenario 2: Minimum selling price not met
Highest bid: $150
❌ Result:
No winner is selected
No order is created
Last updated