Sunday September 27, 2020

Bidding against auctioneers to achieve reserve prices

If you bid at auction for an item that has not reached its reserve price, you could be bidding against the auctioneer.

2nd December, 2006

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...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 8 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago