Flippa, a marketplace to buy and sell websites and domains, seems to have added a new “Request Reserve” button for auctions.
I noticed the new Request Reserve button after checking the website for any domain or website deals. Where you used to see the “Request Reserve” button it would read “Reserve not met”.
For those unfamiliar with Flippa you can set a reserve price, meaning you will not sell your digital asset below that amount, in an auction. According to the Flippa Rules for Sellers;
The reserve price may not be made public by any means.
That means if you set a reserve price you can't publicly state what it is. However the marketplace does allow you as a seller to tell a user the reserve price privately if they request it.
If you have ever sold or bid on any auctions on Flippa perhaps you've experienced asking or being asked “What is the reserve price”? 🙂 It is quite common for buyers to ask before bidding so they know if they even have a shot at winning the auction. Sellers can disclose the reserve price if they wish but are not required to do so.
Flippa must have realized the amount of private messages going through the system was so great, why not build it into the system. Hence the Request Reserve button seems to have launched something in the past week. I can't be sure though as I don't check Flippa every single day.
One of two things will happen if you click the “Request Reserve” button on Flippa. You will get this message;
If the seller decides to disclose the reserve price of this listing, you will be notified by email automatically.
Obviously if the seller wants to tell you the reserve price you will get it. This is without you having to private message them and ask.
The alternative is you will get a message like this.
The current reserve price is $1000. Bidding for this auction currently starts at $1.
This means the seller has chosen to show the reserve price automatically. This will probably save Flippa lot of resources and storage space in the long run.
A pretty nice new feature for buyers of websites and domains on Flippa.
What do you think of Flippa's new “Request Reserve” button? Do you think this will make buyer and selling more convenient on the marketplace? Will you use the “Request Reserve” feature as a buyer and seller?