Reserve Policy (Updated 9/10/2025)
K-BID believes that reserves are counterproductive to successful auctions, however we believe they have a purpose . Our aims to balance seller flexibility with buyer confidence. This policy outlines how affiliates may use reserves and starting bids in auctions.
Options for Setting Minimum Prices:
Reserve Price (Hidden Minimum):
A reserve price sets the lowest acceptable bid without showing the amount to the public.
If the reserve is not met, the item will not sell, and a $25 "Reserve Not Met" fee will apply.
- If the reserve is lowered on top of the last bid, the winning bidder is not required to purchase. These invoices should be processed as a no-sale with no penalty to the buyer. The RNM applies in these situations.
Starting Bid (Visible Minimum):
You may now set a starting bid instead of using a hidden reserve. This displays the minimum price clearly to buyers.
Any item with a starting bid over $5 that does not receive a bid will also be treated as a "Reserve Not Met" and subject to the $25 fee.
Relisting Guidelines for Reserve Items
An asset that fails to sell due to a reserve not being met may be relisted with a reserve one more time.
If the item does not sell after the second attempt, it may not be relisted again with a reserve on the platform.
At that point, the seller must agree to relist the item without a reserve and commit to selling to the high bidder, regardless of the final bid amount.
Special Conditions for Titled/Registered Assets Using K-BID as Dealer of Record
If an affiliate uses K-BID as the Dealer of Record and accepts a titled or registered item on consignment with a reserve, the following will apply:
A $25 Reserve Not Met fee will be charged for any vehicle that fails to sell due to the reserve not being met.
A No Sale Doc Admin fee will also be applied.
These fees will still apply even if the reserve is lowered after the high bid is placed and the high bidder chooses not to complete the purchase.
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