Are all auctions considered with reserve unless stated otherwise?

In auction terminology, the concept of "with reserve" means that the auctioneer and the seller are not obligated to accept the highest bid if it does not meet a predetermined minimum price or reserve price set by the seller. This approach allows the seller to retain control over the sale and ensures that the auction is conducted in a manner that meets their financial expectations.

When an auction is declared as "without reserve" (also referred to as an absolute auction), it indicates that the item will be sold to the highest bidder regardless of the bid amount, with no reserve price in play. This distinction is essential in understanding how each auction operates and what the bidders can expect.

Since it is the standard practice for auctions to operate "with reserve" unless explicitly announced as "without reserve," stating that all auctions are considered with reserve unless stated otherwise is accurate. It reflects the typical structure and rules surrounding auctions, ensuring that participants are aware that sellers want to secure a specific minimum return before proceeding with any sale. This understanding is crucial for both buyers and sellers in the auction process.