Peter Duggan wrote:It means there have been three bids but none for the reserve price. On which note, I hate reserve prices on eBay because they're just annoying for buyers (keep bidding till you get there) and pretty well pointless for sellers when a hidden reserve or genuine starting price are effectively the same thing!
Actually, the first bidder placed their 1st bid, then upped it twice. You can't bid against yourself, unless you do so using another eBay account (and you might see that when there is shill bidding to falsely drive up an item's price to another bidder's maximum). When another bidder enters the race, eBay's proxy bidding system will automatically place bids up to #1's maximum.
I don't like Reserve prices either. However, if a seller thinks that having a low starting bid will attract more viewers than otherwise, I can see where they would place a Reserve price to protect from selling the item at too low a price. If the Reserve price is not reached, than the seller has no obligation to sell the item. I prefer that they just set the starting bid at the minimum price they would accept to complete the auction, and they can hope for the market to set a higher value.
@Doug, listings are not always free if the seller has an eBay "store". In any case, even if the listing is free, there is a fee associated with having a Reserve price, depending on how high. Generally not worth it. Might make some sense in an auction that is for research only, as the seller may receive bids helping them establish a market price, with all bids deliberately doomed to fail. An example might be to list a R&R flute with a low start price, and an unreasonable Reserve ($10,000, maybe?). You can see what activity it gets (watchers, etc. to judge interest), and how high those people will bid against each other. Then, later, re-list the auction (or sell in a different venue) with pricing based on the information gathered.