Reserve price
ℹ️ 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.
🛠️ Set up Reserve price
Open the app > click Auctions > create a new auction or open an existing auction
In Advanced settings section, tick to Reserve price checkbox
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%
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
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