What is a reserve price?

What is a reserve price?

Share:

Question

What is a reserve price?

Answer

The Reserve Price is the seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not commonly disclosed and remains confidential between the seller and the auctioneer. Occasionally a property may be listed with no reserve. This means that technically the lot will be sold if an offer is received - even as low as £1.

Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

More from FAQs about Auctions

Get In Touch

Do you have a query, or a property to sell? Complete this form and an expert will be in touch promptly.

Here at Pugh we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. Unless indicated in the box above, we will not use your information for marketing purposes. See PRIVACY POLICY.

Sending Enquiry...
Your enquiry has been sent. One of our experts will be in touch shortly.
Pugh & Company Ltd, 4 The Parks, Newton le Willows, WA12 0JQ

Mon-Fri: 09:00am - 5:30pm

Saturday: Closed

Sunday: Closed