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Do lots have reserve prices?

April 26, 2017lots prices Reserve

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Do lots have reserve prices?

1 Answer

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Some lots may have reserve prices. A reserve price is set by the seller (consignor) when their item is sent in on consignment. When you are placing your bids in an auction, and you have not met a reserve, that information will be immediately displayed on your screen. If your bid is within 90% of the reserve, a message will be displayed on your screen telling you what the reserve is and the minimum bid necessary to meet the reserve.