# Reserve price ### ℹī¸ What is Reserve price? A **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. *** ### 🛠ī¸ Set up Reserve price 1. Open the app > click **Auctions** > create a new auction or open an existing auction 2. In **Advanced settings** section, tick to **Reserve price** checkbox
3. Tick on **Show reserve price on front store** checkbox (optional) > enter the reserve price amount in the field. 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 price. For example: 80% 4. Click **Save** to update the changes
### ✅ How the Reserve Price Works * You set a **Reserve price** when creating the auction * The auction runs and customers place bids * When the auction ends: * If the highest bid **meets or exceeds** the reserve price → winner is selected * If the highest bid is **below** the reserve price → no winner #### Example **Auction settings** * Starting price: **$50** * Reserve price: **$200** **Scenario 1: Reserve met** * Highest bid: **$220** ✅ Result: * Auction has a winner * Winner completes checkout at **$220** *** **Scenario 2: Reserve not met** * Highest bid: **$150** ❌ Result: * No winner is selected * No order is created --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.tipo.io/tipo-auction/auction-rules-and-bidding-features/reserve-price.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.