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#11
10-14-2019, 01:56 PM
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In a few live auctions where lots I've wanted have had reserves that weren't disclosed the way it worked was that I was bidding against the reserve which was handled as bids as if I was bidding against another buyer. Seems strange, but it worked pretty well, one place would announce when bidding was against the reserve, another wouldn't
Both would disclose the reserve when the bidding ended, or once it was exceeded. Both would usually then allow a bit at the reserve unless the high bid wasn't even close. So like all done at 120? hammer, "the reserve was 130 do you want it?" 
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