Changes to Flippa’s Reserve Met Functionality

Starting October 31, 2017, Flippa will be changing the way the reserve met functionality works.

For the reserve to be met, there must be one bid placed.

In the past, auctions were considered to have reserve met whenever the reserve price matched the auction price, regardless if the auction had any bids or not. So if an auction had a $15,000 starting price and a $15,000 reserve price, this would highlight the price in green, indicating that the reserve has been met.

This is no longer the case.

For an auction to be considered as reserve met, it must now meet two criteria: First, the auction price must be equal to, or greater than, the reserve price of the auction, and secondly, there must be 1 bid or more. Auctions that do not meet this criteria will no longer be featured in the reserve met section of Flippa.

This is a small change, that we hope will have a big impact on how auctions are viewed by our users.

Have any questions on the upcoming change? Send us a quick email here.

  • Ansel Taft

    I don’t know why someone would set the starting price the same as the reserve – that seems silly and a bit disingenuous – but the correction seems like an over-correction. Why not satisfy the reserve requirement if bid >= 1 and auction_price == reserve price? It seems like this could be handled programmatically, close the loophole you’re defending against ^^^, and allow auctions to close that otherwise would now fall short. To put it another way, you’re going to leave money on the table and subvert auctions that would have closed before.

    • Chris Holle

      Hi Ansel,

      Forgive me, but I’m not sure what you’re indicating. Our new process is that the reserve is considered “met” when there are one or more bids placed and the auction price is equal to or greater than the reserve price, which I believe is what you’re saying as well.

      Feel free to add some clarification!

      Hope this helps.

      • Ansel Taft

        For some reason when I first read it, the wording made me think that the auction price had to now go over the reserve price by a bid. I see now that we were saying the same thing and this seems like a good change. Cheers

  • MazahirAbbas

    With this change, the visibility of auctions has reduced. Now you are treating reserve and no reserve auction as same in the beginning.
    You should come with third option in search results auction mentioning with no reserve with different color. No Reserve auction with grayed out opening bid is not an attractive one and on that there is no search criteria now available that shows the auctions starting with no reserve.
    Please take a look into it or revert back to your old criteria.