if reserve price isn't met, the hi-bidder is *not* required to buy...
on ebay, i've seen some bidders cast artificially high bids yust to see what the reserve was, then cancel them, saying they mistyped their bids...
Is no reserve really the truth?
Isn't an auction with no reserve but with a minimum bid kind of misleading? A current auction here states that a Wadia 850 CD player is being auctioned off starting at $1 with no reserve. When you go to this auction you find that there is a minimum bid of $2960. Is this not for all intents and purposes a reserve or just plain old false advertising?