In most cases, yes, you may apply a reserve price to your goods when selling via auction.
What is a reserve?
A reserve is the confidential minimum price at which a lot may be sold. If bidding does not reach reserve, the lot will be passed in.
What is a house reserve?
A house reserve is a system-generated reserve, set at approximately 80–90% of the low estimate. It is used where a seller is not permitted to set their own reserve, or where a lot moves through repeated unsold auctions.
Reserve rules
- You may set a reserve at or below the low estimate.
- You may request a reserve above the low estimate, but LANGTONS must approve it.
- If the low estimate is $20 or less, a house reserve applies and you cannot set a reserve yourself.
Once the auction is live
Once an auction has gone live, the reserve can no longer be changed.
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