If I understand what you're asking, Trade Me doesn't do automatic Fixed Price Offers. If the auction ends without the item selling, the Seller is automatically notified by TM, and given the option of relisting, or making a fixed price offer. Normally it goes to people who've bid, or have the auction on their watch list. People who have had the item on their watch list are notified when the auction ends, and invited to contact the seller to request a re-listing or a Fixed P. O. It all depends on the seller, ultimately.

What it means is that the seller set the s/r price lower than what they hoped to get. I do this, because getting a bit of a momentum in an auction, started by a low reserve, can boost the final price. The extreme example of this is $1 reserve. There's a risk in this, because you might only get one bid, and the item sells for less than you wanted: if so, you accept that your wanted price was too high, or it was a bad week for selling that kind of thing. But if you get no bids, then you might, at least the first time, offer it at the lowest price you'd be happy with, which is above the reserv...