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AUCTIONS
MY QUESTION IS WHAT MAKES AN AUCTCEION FAIR IF IT HAS A RESERVE ON THE PRICE? the way I see it an auction should go to the high bidder , not be called back to the seller.
1 comment
rfmtm
Mentor11 months agoAs in any auction anywhere the Reserve must be met or exceeded for anyone to win.
Most sellers don't use a reserve as it costs money whether there is a winner or not, plus buyers hate them, still it an option whether a seller wants to use one rather than just starting the bidding at the lowest price they are willing to sell for.