This notice is to inform Registered Bidders of a policy change for the Reserve Price of stoves sold at auction. The Reserve Price is the minimum eligible bid price for a stove sold at auction. Currently the Reserve Price is hidden, meaning it is not publically known. The new Reserve Price Policy implements a published reserve price for each stove that slightly increases per auction. Below are the main points of the new Reserve Price Policy:
- Reserve Prices are published on The Stove Auction website for two auctions at a time: http://www.thestoveauction.org/cambodia.html
- Reserve Prices increase per auction per stove
- Indicative rate of increase per auction is 3%
- Reserve Prices shall never be lower than the RBF cash incentive for Buyers
- Reserve Prices peak at 80% of the Full Wholesale Value of each stove
- Each stove will have a starting Reserve Price point:
- Prime Fuelwood Square: $15.50
- ACE 1: $45.00
- Mimi Moto: $33.50
- 3G Small: $13.20
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