What is an “Auction Reserve”?

An auction reserve is a hidden minimum price that the seller is willing to accept for their ride. The seller is only obligated to sell once the bid amount meets or exceeds the auction reserve.

For example, imagine that you, as the seller, set your auction reserve at $50,000.00. If, by the end of the auction period, the highest bid is only $42,000.00, you do not have to sell and can list your vehicle again at another time in the hopes of getting more for your ride.