Is there a reserve price on auction cars?
I'm confused about reserve prices in online car auctions. If a car has a reserve, what happens if bidding doesn't reach it? And is the reserve amount shown anywhere, or is it hidden?
31 votes
2 answers
5.2k views
asked Apr 10, 2024, 1:11 PM by Amy F.
Share
Report
2 Answers
sorted by Votes
Best Answer ★
A reserve is the minimum price the seller will accept. If bidding doesn't reach it, the car doesn't sell. Some auctions show whether the reserve has been met, others keep it hidden. The key is to bid what the car is worth to you, not to chase the reserve. If it doesn't sell, it may relist at a later auction.
Don't overbid trying to hit a hidden reserve. Set your max based on market value and let it go if the reserve is higher. There will be other cars.