Are counter bids allowed?

Posted on June 19th, 2017

No. In some jurisdictions, the auctioneer may counter bid on behalf of the seller before a price reaches the reserve price. On The Block will not engage in this practice, a ...

If my auction doesn't reach the reserve price, what happens next?

Posted on June 19th, 2017

If your auction does not reach the reserve price, you are under no obligation to sell, however you reserve the right to negotiate with the high bidder or bidders to come to ...

What if I get bids, but they aren't high enough for me?

Posted on June 19th, 2017

You will always be protected by your reserve price, which is the minimum price at which you are required to sell. If bidding does not reach that reserve p ...

What is the reserve price?

Posted on June 19th, 2017

A reserve price is the lowest price in which a seller is willing to sell a property. If bidding doesn't reach the reserve price, the seller isn't obligated to sell.

Why can't you show the reserve price?

Posted on June 19th, 2017

Generally speaking, the reserve price will not change, however there is the possibility that a seller may bring a reserve price down after an auction has begun. For that re ...

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