Reserve Price and Escrow Service
Not what you're looking for?
1. Define the term "reserve price" and explain how the use of a reserve price can affect the progress and outcome of an auction.
2. Describe the services offered by an online auction escrow service. Name one advantage and one disadvantage of using this type of an escrow service.
Purchase this Solution
Solution Summary
This solution provides answers to questions regarding reserve prices and escrow services.
Solution Preview
Dear Student,
Thank you for using BM.
Below are my answers.
Sincerely,
Anna Liza Gaspar
ANSWERS
Question 1
The reserve price is the minimum price that the seller specifies at the start of an auction. This price is the amount, which a seller is not obligated to award the offered item to the winning bid, which means that in order for the winning bid to get the item it should be above the reserve price.
Thus, the reserve price can significantly affect the outcome of an auction especially if the item has a low number of bidders with bids well below the reserve price. Hence, the ...
Purchase this Solution
Free BrainMass Quizzes
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Learning Lean
This quiz will help you understand the basic concepts of Lean.
Operations Management
This quiz tests a student's knowledge about Operations Management
Business Ethics Awareness Strategy
This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.
Income Streams
In our ever changing world, developing secondary income streams is becoming more important. This quiz provides a brief overview of income sources.