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Important information about reserve price auctions:

1. You cannot put a reserve price on a multiple quantity auction.
2. Automatic relisting will be cancelled if the item has received any bids.
3. Final listing fees will be applicable if you receive any bids on your item, regardless if the reserve price is met.
4. If you want to make sure an item sells at a certain price then you should set the initial price at the lowest price you are willing to accept for it rather than setting a reserve price.

Important information about first bidder win auctions:

1. You cannot put a 'first bidder wins' format on a multiple quantity auction.
2. Automatic relisting is not applicable to the 'first bidder wins' format.
3. The price will gradually reduce from your opening price to the minimum price listed above over the duration of the auction.
4. The first bidder on the item will win at the current price at that time.
5. Bidders like this type of auction because they know they will win with a valid bid, and likewise it is good for sellers to set your initial price a little higher than expected and the minimum to the lowest amount you would accept - knowing that you may possibly get more than you had originally hoped for.