Auction reserve price

An auction reserve is the lowest price the seller is willing to accept. It differs from the opening price at which bidding may begin and from an estimate of the result an object might achieve.

Opening price and reserve can differ

Auksjonen.no explains that its opening price may be below the reserve. Skanfil states that the opening prices in its online auction are minimum prices. These examples show why price fields must be interpreted under the particular auction's terms.

Sellers should clarify the reserve, possible costs and what happens if an object remains unsold. Buyers should check which price field they are reading. The bid amount should also be distinguished from the total cost including any auction fees and other stated charges.

See OBA's auction page and read the applicable terms before bidding. If you are considering a direct sale instead, read about selling a collection to OBA and its buying and selling services.