All auction transactions are binding. This means you are obliged to supply the offered lot at the winning bid. The only exceptions are lots with a reserve price, which will not be sold if the highest bid falls below the reserve price.
Articles in this section
- I feel the highest bid is too low. Am I required to sell my lot?
- The reserve price for my lot was not met, what are my options?
- My lot’s reserve price was not met. Would it be possible to sell it for the highest bid anyway?
- I’ve been notified that I can sell my lot to the highest bidder, even though it is below the reserve price that I set for my lot. Why is this?