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What is the Bid Status?

April 26, 2017bid Status

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What is the Bid Status?

1 Answer

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Posted

The purpose of this field, is to keep you advised regarding a reserve placed by the seller, if any. See the below definitions: “Reserve Not Yet Met” When this is displayed, the current high bid has not met the seller’s minimum selling price. “Reserve Met” When this is displayed, the current high bid meets or exceeds the seller’s minimum selling price and will be sold to the highest bidder in accordance with our terms and conditions. “No Reserve” When this is displayed, the lot will be sold for the first “Allowable Starting Bid”, unless it is exceeded by other bids. Please remember, even though there isn’t a reserve placed by the seller, you will still only be able to bid the increments displayed.