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