What is the "Minimum Bid"?

The seller sets a reserve price for the lot, but it remains hidden from bidders during the auction. If the reserve price is not met, the seller has until 6:00 PM Pacific Time on the next business day after the auction ends to accept the high bid or cancel the sale. The reserve price is revealed to the bidder with the highest bid once the auction closes.

On auctions with a sale status of "Minimum Bid" or "On Approval", the buyer awaits the seller's decision on their high bid: accept, send a counter-offer, or decline.

While the seller is reviewing the bid, the buyer may at any time:

• increase the bid to the next highest amount;
• keep the current bid unchanged;
• accept the minimum bid.

To increase a bid or accept the seller's offer, go to the bid status page.