Revenue-optimal reserve price
auction_reserveThe revenue-optimal reserve price when you're selling — free, no account or key needed.
USE THIS WHEN: you're running an auction or sale with multiple bidders and need the floor price (minimum bid you'll accept) that maximizes your expected revenue. NOT for one-on-one haggling (use negotiate for that).
Provide: n_bidders (how many bidders), seller_valuation (what the item is worth to YOU, in $), and bidder_value_prior — a rough model of what bidders will pay, e.g. {"family":"uniform","params":{"low":2000,"high":8000}}. Estimate it if unknown. Returns the reserve price and expected revenue.
Example: a painting, ~5 bidders, worth $1,000 to you, bidders likely pay $2,000–$8,000 -> auction_reserve(n_bidders=5, seller_valuation=1000, bidder_value_prior={"family":"uniform","params":{"low":2000,"high":8000}}).
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| n_bidders | Yes | How many bidders you expect. | |
| seller_valuation | Yes | What the item is worth to YOU, in dollars (your floor). | |
| bidder_value_prior | Yes | Rough model of what bidders will pay, e.g. {family:'uniform', params:{low:2000, high:8000}}. |
Output Schema
| Name | Required | Description | Default |
|---|---|---|---|
| error | No | ||
| rationale | No | ||
| reserve_price | No | ||
| expected_revenue | No | ||
| expected_efficiency_loss | No | ||
| expected_revenue_no_reserve | No |