[geeks] Bah, humbug

[Geoff Reed]

Quoting Charles Shannon Hendrix <shannon at widomaker.com>:

> I can't find anything like that.  Is this something you have to pay
> extra for?  As a normal seller, I see no such option in the selling
> pages or any of the documentation.
> 
> Think you can get a pointer to this?
> 
> I know that in some states, secret reserve is illegal in any kind of
> auction.  I'm pretty sure they are illegal for all government auctions.
> 
> Secret reserve is a hot enough topic that there are a lot of google
> hits.
> 
------

from http://pages.ebay.ca/help/newtoebay/glossary.html#R

Reserve Price
The lowest price at which a seller is willing to sell an item in an
auction-style listing. When sellers list an item, they can set a secret reserve
price. If the highest bid does not meet the reserve price, then they're under no
obligation to sell the item to the bidder. This feature lets sellers set a low
starting price to stimulate bidding among buyers, yet ensures that the item will
not be sold below a price they're willing to settle for. eBay charges an
additional fee for setting a reserve price, but it is fully refunded if an item
sells. For more information, see the Fees page.

the relevant sentence in the above is "When sellers list an item, they can set a
-=>secret reserve<=- price."  arrow highlighting is my doing

what people are referring to as a "secret reserve" is the reserve option.  it is
secret in the fact that until the reserve is met it is not shown to anyone but
the auction creator.