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? on Reserve price

Henry0ReillyHenry0Reilly Member Posts: 10,889 ✭✭✭
edited February 2004 in General Discussion
If I make a bid that does not meet the reserve could the seller decide to accept my bid and consider it a contract? My gun budget is pretty lousy right now, but I've been making some low-ball bids on several reserve auctions just for entertainment.

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Comments

  • Horse Plains DrifterHorse Plains Drifter Forums Admins, Member, Moderator Posts: 39,880 ***** Forums Admin
    edited November -1
    I would think that the seller could lower the reserve and then you would be high bidder. So the answer would be yes, I think. That's the way it would work on fleabay anyhow.

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  • agloreaglore Member Posts: 6,012
    edited November -1
    I very seldom bid on reserve priced firearms. I did bid and win one last night that is hopefully going to turn into a different firearm with a little bit of trading.

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  • CS8161CS8161 Member Posts: 13,596 ✭✭✭
    edited November -1
    I don't think the seller can make any adjustments to the price of the firearms once a bid has been placed, so the answer to your question, is no, he cannot lower the reserve to meet your bid and make you have to buy the item. Once the auction ends, he can then lower the price but you would have to place a new bid to win the item.

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  • kimberkidkimberkid Member Posts: 8,858 ✭✭✭
    edited November -1
    Chris8161 is correct ... on GunBroker, once a bid has been made all a seller can do in add to the decription and end the auction early

    BUT! ... even on feebay if the seller lowers the reserve to the hi bidders bid, the hi-bidder has to bid again to "meet the reserve" and possiably win the item.

    What happens is: when a seller lowers a reserve, Feebay will send out an email to all the bidders that the seller has lowered the reserve in hopes of generating new intrest in the bidding.

    The reason this is, at the point the bidder bid he/she was told they were not the winning bidder ... how "fair" would it be if the seller decided to lower the price while the bidder is looking at and possiably bidding on the same thing with a lower reserve or no reserve ... thus the hi bidder has to bid on it again to be declaired the hi-bidder/reserve met.




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  • offerorofferor Member Posts: 8,625 ✭✭
    edited November -1
    The point is, you are not obligated unless you meet the reserve. You can bid under reserve all day long and not worry about being obligated to an auction.

    The seller might offer the gun to the high bidder, if he can figure out how to reach him, after auction close, but if you didn't make reserve, the Seller's gun is legally unsold at the auction end. And that is the only way a Seller can sell a gun in the shop and close an auction early - before the reserve is met. Once met, Seller is obligated to complete the online auction and deliver the advertised gun upon payment to the highest bidder. It is NOT legal not to do so, because, as you say, an auction is a contract.

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