I know that sites and domains are being sold through the auction style through the concept of starting bid and BIN which works fine for me.



But I've seen some auction bringing in the concept of 'Reserve Pricing' which I take it that the seller would not offer the item for sale under the reserve pricing.



What I don't understand is that some set starting bid at $1, a Reserve Pricing of $200 and a BIN of $250.



So what is the point of having the starting bid set so low because if bids come in at less than the reserve pricing, the seller would not sell. The potential buyers knows full well that what they bid will not happen.



So why not just set the starting bid at the reserve pricing so that no time is wasted ?



I understand if there is no reserve pricing so any price can be accepted.



I hope I am missing something really obvious here.
More Information:
  1. If you are a winning absentee bidder in a live or webcast sale (the auctioneer declares your bid is the high bid), GoIndustry DoveBid should send you
  2. Phoenix Foreclosed Home Auction - (CONCLUDED) - Bid in-person or via webcast Buy foreclosures, bank owned homes and short sales via live and online auctions
  3. com as a venue for finding land for sale, when compared to the other online land auction venues? Venue, 1
  4. Full payment must be made in cash, certified funds or credit card ONLY within 30 minutes of the completion of the auction
  5. The following as amended by any posted notices or oral announcements during the sale, constitutes the entire terms and conditions on which personal property
  6. CLOSING: auction and stated on the REPC or an Addendum
  7. in the State of Victoria, is the auctioneer, and adheres to the standard terms of sale of the Australasian Philatelic Traders Association
  8. counter represents Dealer's agreement to the Auction Terms and Conditions and agreement to pay any

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