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Why can't I see the reserve price?

A visible reserve price can act as a psychological barrier preventing bid activity getting underway. Very few people would ever make a bid below the reserve price, yet it is here it all begins. Many auctions begin with low bids, and bids gradually increase towards the close of the auction. Cars which do no reach their reserve price are often sold under the reserve price, once the seller has received a serious bid on the car. This would not occur if the bidders are apprehensive due to a visible reserve price, that seems too high. If a car does not attain its reserve price and hence fails to be sold directly at the auction, it is still possible to purchase the car. After the auction, we contact the seller and ask whether they wish to sell to the highest bid (below the reserve price). It is therefore vital to hold the highest bid, even if your bid is below the reserve price!


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