If you bid at auction for an item that has not reached its reserve price, you could be bidding against the auctioneer. Reserve prices - the minimum prices for which items can be sold at auction - are agreed between auctioneers and sellers beforehand.
‘‘If a seller agrees a reserve price of €8,000 and someone in the room offers €5,000, the auctioneer will bid against them until they get the reserve,” said Ian Whyte, managing...
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