In most cases, you may apply a reserve price to your wines 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 the reserve, the lot is 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.
How reserves may be set
- You may set a reserve at or below the Low Estimate.
- You may request a reserve above the Low Estimate, subject to LANGTONS' approval.
- 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.