Quote:
Originally Posted by Schlesinj
REA has a reserve on the Punch Lloyd and it was known upfront.
I have seen Heritage add one later in an auction. That may be random requests.
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All of the Heritage items have a standard disclosure that the reserve (if any) will post 2 days prior to auction completion. And then the reserve will actually show up then if the reserve has not yet been met. The Heritage reserve is also different because they tell you precisely how much it is, and just allow the next bidder to unilaterally bid at that price.
I think they’re trying to not scare bidders away early, yet still be able to add the reserve at their chosen time if the item actually has one, and even then only if the reserve hasn’t been exceeded yet.