Two numbers shape an auction: the price where bidding starts and the price below which you are not obliged to sell. They do different jobs. Setting them well is the main decision a seller makes, and it is easier than it looks if you keep the jobs apart.
What each number does
- The starting price is where the bidding begins. It tells buyers how low the bidding can go and how much it costs to get in. A lower starting price lets more people join in.
- The reserve price is the minimum you are prepared to accept. If the bidding ends below it, you are not obliged to sell. A reserve is optional on Epic Motor Trading. When it is met, the listing shows a badge saying that the bike will sell.
The reserve is private, the starting price is public. Buyers can see that a reserve exists and whether it has been met, not what it is.
How they work together
A low start with a sensible reserve is a common approach: the low start attracts bidders, competition lifts the price, and the reserve protects you if it does not rise far enough. A high start with no reserve gives you a floor, but it can scare off the people who would have pushed the price up. A high reserve is not a protection if buyers think it is unrealistic: they simply do not bid.
Researching a realistic figure
- Look at sold prices, not asking prices. Asking prices say what sellers hope for.
- Compare the same model, year range and condition. A restored bike and an original survivor of the same model are different markets.
- Look at several recent sales, and ignore the highest and lowest.
- Adjust for what you know: documented history, matching numbers and a FIVA card add value, missing papers and non-original parts reduce it.
- Ask an owners' club or a specialist dealer what they think the bike is worth. Their answers are free and informed.
Setting the reserve
Choose the lowest price at which you would be glad to sell, and not the price you hope for. Before you set it, subtract the costs of selling, because they change what you take home.
Epic Motor Trading's vendor agreement states a commission of 8% on the winning bid (excluding VAT), with 21% VAT charged on the commission, both deducted automatically from the payment held in escrow. Its own example is a winning bid of €10,000: a commission of €800 plus €168 VAT, which makes €968 payable to Epic Motor Trading. If a bike does not sell, you owe no commission. Read the vendor agreement for the exact rules that apply to your account, including VAT, because they can depend on whether you are a private or a professional seller.
Mistakes to avoid
- Setting the reserve at the highest price you imagine. If the market disagrees, no one bids.
- Setting the starting price at the reserve. You lose the effect of competition.
- Forgetting the cost of selling when working out the reserve.
- Changing your mind after the auction. A bid at or above the reserve is a binding offer.
- Asking friends to bid to push up the price. Shill bidding is banned on the platform, and it is fraud.
When the reserve is not met
If the bidding ends below the reserve you may sell, or you may not. You can contact the highest bidder, or relist the bike with a lower reserve or better photographs. Read the reasons first: a bike that gets many views and no bids is overpriced, and a bike that gets few views needs better pictures and text. See photographing a classic motorcycle and writing a listing that sells.
