Choco
3/2/2007 11:12:45 AM
Dennis
3/2/2007 11:18:28 AM
(Reserve not Met) means the seller has a price in mind that he wants (hidden) the bidding must meet or exceed that minimum price the seller has established before it becomes a binding contract... The bids below that RESERVE PRICE will not make a binding contract for the seller to sell it or the bidders to buy it...He could privately sell it to the highest bidder, but that won't be until after the auction has closed.
LawWyfe
3/2/2007 11:19:52 AM
It means that the top bidder did not meet the required price that the seller has placed on it..therefore it will not be sold...however I have been known to contact a seller afterwards and negotiate.
LawWyfe
3/2/2007 11:20:53 AM
OK so ya hit send before I did Dennypoo!