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What if the Reserve Price Isn Met?

April 26, 2017Met price Reserve

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What if the Reserve Price Isn Met?

1 Answer

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If an auction ends and the reserve price has not been met, both the seller and the high bidder are released from any further obligation to complete the transaction. The buyer must know that if they did not meet the reserve price, then as stated, the seller will not be willing to sell the item.