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Can The Auctioneer Refuse The Highest Bid? |
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Answer» In a with RESERVE AUCTION, the auctioneer may refuse a higher bid (reserve the RIGHT to refuse) where in a WITHOUT reserve auction, any higher bid must be accepted. SAID another way, in a with reserve auction, the auctioneer is not bound to sell to the highest bidder. In a with reserve auction, the auctioneer may refuse a higher bid (reserve the right to refuse) where in a without reserve auction, any higher bid must be accepted. Said another way, in a with reserve auction, the auctioneer is not bound to sell to the highest bidder. |
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