Reserve Pricing

Updated August 7, 2026

Lot number	1c
Auction	KW Consignment Inc. Auction Sale #424 August 9 2026
Date	August 9, 2026 at 7:00 PM EDT
Auction house	KW Consignment Inc.
Location	Waterloo, ON

A reserve price in an online auction is the minimum price that a seller is willing to accept for an item. If the bidding doesn't reach this price, the seller has the option to cancel the auction or decline the highest bid, meaning the item won't be sold. The reserve price is typically kept secret from the bidders, which adds an element of suspense to the auction. It helps protect the seller from selling an item for less than they are willing to accept. For example, if an item is listed with a reserve price of $100, and the highest bid at the end of the auction is $90, the seller isn’t obligated to sell the item. However, if the bidding reaches or exceeds $100, the item is sold to the highest bidder. When you see "may have won," it means you have the highest bid, but it may not have met the seller’s reserve price. If your bid is close to the reserve, the platform will contact the seller to see if they are willing to accept your offer or negotiate a better price. If the seller agrees, you will be notified with the next steps. Otherwise, the item may be relisted for another auction. Feel free to reach out if you have any questions about your bid status.

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