A reserve protects the seller from not getting the minimum price that he is willing to sell for. The reserve is almost always secret to entice bidders to bid up to the reserve. The more bidders, the higher the selling price. Once the reserve has been met, and there are four or five bidders who want the car, the price can only go up. It is customarily considered in poor taste to ask a seller what his reserve is. Craigslist is another story. A car on Craigslist is only worth what a buyer will pay for it, or it will not sell.

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1992 400E current
1988 300E sold
1973 280C totalled
1973 280SEL never got it running
1971 250C my first love but rusted out