How do provisional bids work?

Where lots have a reserve price we may operate a system of provisional bids.

Some cars have reserve prices set by their owners (sometimes with guidance from our auctioneers). The reserve price is the minimum price we are able to sell the car for.

When the bidding is lower than the reserve price we may consider the last bid to be appropriate and is worth submitting to the vendor for consideration.

We refer to this as a provisional bid and the lot is provisionally sold subject to the agreement of the vendor.

Where a lot is being sold on our online bidding platform the buyer will be informed that their bid is provisional and the lot will be marked Below Reserve (Provisionally Sold).

Need help?

Please call our office on 01233 506266