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If the listing ends without any bids that meet the reserve price, the seller has the option to relist the item or close the listing.
Reserve Prices
A reserve price is an amount the seller is willing to sell an item for. On WOO Closet, if no one bids up to the reserve price, then no one gets the thing. In other words, even if you are the highest bidder at the end of an auction, if you see the message “reserve not met” after placing the bid, you won’t win the item.
There are cases when a seller will lower their reserve price during an auction if they don’t see much activity. Though, don’t rely on these cases to win an auction. If an auction has a reserve price, it’s best to bid up to that amount as early as possible so a low starting price doesn’t attract other bidders.
Why You Might Want to Cancel a Bid
There could be any number of reasons you want to cancel your bid while shopping on WOO Closet You might have seen a cheaper product elsewhere or simply decided against buying the product entirely. No matter for what reason you wish to cancel, it’s very easy to do so.
On the other hand, if you are a seller, you might want to cancel a bid that someone else has placed if you think they might be trying to commit fraud. You also might want to cancel if the product is no longer for sale, or if the buyer has asked you to cancel the bid for them. WOO Closet discourages cancelling other people’s bids unless it’s absolutely necessary.