onajurni t1_iyafrzx wrote
Reply to comment by CedarWolf in ELI5 When selling an item in an auction, why set a minimum reserve amount if the bidders can’t see it. Why not just set the minimum bid at the lowest price you’d be willing to sell at? by lsarge442
This is it. It's giving room for more bidding so that people will think the item must be worth more. Not everyone will fall for that. But it only takes a few to keep the bidding going higher and higher.
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