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I am thinking about biding on a auction.com but I feel they always have the hidden reserve amount

  • September 09 2013 - US
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Answers (1)

Thanks for your interest in Auction. To answer your question - all assets have an unpublished reserve price that is set by the seller. The seller decides both the opening bid and the reserve amount. In all cases, Auction hosts properties and is not the seller. During the auction process, if the reserve is not met, the highest bidder is informed he or she has won the auction "subject to seller confirmation." The winning bid is presented to the seller and from there, the seller has up to 15 business days to accept or reject the offer. 

I hope that clears up your question but if not I'd be more than happy to be of further assistance should you have additional questions regarding our processes. Please feel free to reach me (Peter) using the contact button on my Zillow profile. You can ask for either me or my Customer Service Supervisors Yamir Gonzalez or Vicky Hernandez.

Thanks again, 
Peter 

  • September 09 2013
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