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Posted By: Max Weder

Jim

Here's how I understand it works with reserves.

Say reserve is $500

Say high bidder is $75

If your snipe is $100 and high bid, your snipe would win the bid at $76 but wouldn't meet reserve. This is the same as if you manually sniped.

If your snipe is $600 and high bid, the snipe would win the bid at $500, meeting the reserve.

In the first instance, if you would want to rebid if you didn't meet the reserve with your first bid, then sniping isn't for you. I always bid the maximum I am prepared to pay; if my snipe doesn't meet the reserve, the reserve price was too high for me.

Max