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Reservation not to exceed

21-06-2015 01:41PM

#1

travist

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Hiya. What does Reservation not to exceed mean?

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#2 21-06-2015 07:27PM

MarkAnthony

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Reserve not to exceed.

A reserve is the minimum price something sells for at auction. So if a house is reserve not to exceed 100,000 if a bid of 100,000 is made an no other bids are made it will sell. If only a bid of 90,000 is made it may not sell and may be withdrawn.

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#3 21-06-2015 08:09PM

The_Conductor

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MarkAnthony wrote: »

Reserve not to exceed.

A reserve is the minimum price something sells for at auction. So if a house is reserve not to exceed 100,000 if a bid of 100,000 is made an no other bids are made it will sell. If only a bid of 90,000 is made it may not sell and may be withdrawn.

Or- the reserve could be lower- and it could sell at 85 or 90k.......
Its a damn annoying way of saying they're not telling you what the reserve is- but that its lower than 100k.

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#4 21-06-2015 10:03PM

travist

Registered Users, Registered Users 2 Posts: 264 ✭✭

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thanks
Auction prices are interesting to read in the newspaper alright..

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