Setting a reserve price means choosing a specific price that is required before the competition data for your events will be displayed. An aptly set reserve price will help enhance competition in your events.
Operation of the Reserve Price
In fields where you set a reserve price, your suppliers won’t see any competition details until they meet the reserve price figure. Below is a screenshot of the supplier bidding screen. In the example provided here, no competition details are displayed, as the supplier’s bid is higher than the reserve price.
The firm will be provided with the competition details upon meeting the reserve price level. Below is an example where the same supplier reached the reserve price and could thus see the competition details.
Creating a Reserve Price
If you click on the total price column details when creating an item, the reserve price options will come up.
After an appropriate reserve price has been set and saved here, the Reserve Price field will appear on the item line.
Issues to Note
A reserve price can be set only during the initial creation phase. It is not possible to set a reserve price for events already published online. However, it is possible to revise a reserve price and to open it up or close it to supplier access.