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Unsold Auction Items

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Posted On: June 28, 2021 by Backes Auctioneers in: Auctions

When Items Go Unsold at an Auction  If you’ve been to a few auctions, you may have had your eye on an item, but didn’t want it quite enough to make a bid. If no one ended up bidding on that item, you may be wondering what happened to it. Will you have a chance to bid on it next time? Does it get returned to the seller? We are here to let you know the process of why an item may not be bid on and what typically happens to those items after an auction.  Minimum Reserve  The auctioneer may decide that some items are of too much value to be sold below a certain price. This is when a minimum price is set so that both parties get a fair value for the item. There is a chance that this item may not sell. This could be because of low interest or that persons do not want to spend the money that the minimum is set at. This is okay, as the auctioneer will think that the item will be sold elsewhere. They may attempt to sell the item at another auction.

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