eBay will begin allowing sellers to lower their Reserve Price on auction listings on eBay.com even after bids have been placed. This option is already available on eBay Motors and on eBay UK, and is now being extended to the US eBay site.
Reserve Price is an option sellers can choose to pay for. Sellers do not have to sell the item unless the bidding reaches or exceeds the Reserve Price set by the seller.
eBay announced Tuesday that soon, regardless of whether a bid has been placed, sellers will be able to adjust the Reserve Price through the "Revise Your Item" process as long as 12 hours or more remain in the 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.
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