What is RP?

[ronnie_sjr]

Hi all

'RP' is often used in the buy/sell forum.

At first I thought it stands for Retail Price but after a recent post by someone I gathered its not... So, what does it actually stand for?

Thanks =)


Ronnie

 

[Artosoft]

Hi all

'RP' is often used in the buy/sell forum.

At first I thought it stands for Retail Price but after a recent post by someone I gathered its not... So, what does it actually stand for?

Thanks =)


Ronnie

If I am not wrong, it is 'Recommended Price'. Last time I though is 'Rupiah' :bsmilie: .

Regards,
Arto.

 

[espn]

Role-Play.


:bsmilie:

Just kidding... it's Reserve Price.

 

[zcf]

not very sure also, something like reserve/release price.

 

[Artosoft]

My bad, it should be 'Reserve Price' :bsmilie: .

Regards,
Arto.

 

[ronnie_sjr]

lol @ arto

so it just means the price ur willing to let go at huh?

 

[wildstallion]

In B&S its reserve price in shops it retail price/recomended price

 

[wildstallion]

lol @ arto

so it just means the price ur willing to let go at huh?

Yes, what price you are willing to let it go

 

[Artosoft]

Yes, what price you are willing to let it go

How about BNP (Buy Now Price)? Sometime I saw RP and BNP in one B/S thread.

Regards,
Arto.

 

[wildstallion]

How about BNP (Buy Now Price)? Sometime I saw RP and BNP in one B/S thread.

Regards,
Arto.

Then the BNP would refer to what the seller is wishing to let it go for ideally, and the RP is the minimum offer before a consideration will be taken place?

 

[Artosoft]

Then the BNP would refer to what the seller is wishing to let it go for ideally, and the RP is the minimum offer before a consideration will be taken place?

Heh....

Even sometimes I saw people offer below RP. Joker will offer $5 for RP $500.

Regards,
Arto.

 

[wildstallion]

Heh....

Even sometimes I saw people offer below RP. Joker will offer $5 for RP $500.

Regards,
Arto.

They are just trying their luck, and its pointless so they just get ignored, Its quite funny though :bsmilie:

 

[Clockunder]

Yes, a Reserve Price is the minimum price at which the seller considers to be a reasonable offer and therefore also the price below which he won't consider selling his stuff.

 

[justarius]

It's used usually in auctions (both online and actual ones), which is where the term originated from... It's the minimum price at which the seller will sell the product.

 

[Cactus jACK]

i have always interpreted it to mean "Reservation Price", analogous to the economic term "Reservation Wage". the "Reservation Wage" is the wage at which an individual (supplier of labour) would start considering joining the labour force (in his work / leisure decision). anything below the RW, the inidividual would rather not work, as he prices his leisure to be higher than that of the wage offerered.

similarly, the "Reservation Price" would be the price at which an individual (seller of a product / service) would start considering relseasing his goods / services (in his sell / keep decision). anything below the RP, the inidividual would keep the good or not provide the service, as he prices his goods / opportunity cost to be higher than the price being offerered.

 

[+evenstar]

Heh....

Even sometimes I saw people offer below RP. Joker will offer $5 for RP $500.

Regards,
Arto.

To up their post count lor..

 

[stk]

Heh....

Even sometimes I saw people offer below RP. Joker will offer $5 for RP $500.

Regards,
Arto.

Actually it's not a bad thing.. having someone to offer a price (even below RP) will get the bidding started and generate excitement/activity on the thread. I believe even serious auctions will allow bidding to start at below their RP. Just don't expect to get the item if u're bidding at below RP..

My interpretation :

RP - Reserve Price - Minimum price at which the seller is willing to sell. It does not mean that 1st person to offer at RP will get the item, cos seller can accept higher offer from others.

BNP - Buy Now Price - Price at which the seller is willing to confirm sale immediately. 1st person to offer at BNP should get item. Seller should not sell item to others even if higher offer comes in.

 

[wrx_sti_22b]

Not to be confused between RP & RRP - Reserve Price & Recommended Retail Price.

 

[ronnie_sjr]

Cool, didnt know there's a RRP...