What is a reserve price?

A reserve price (also known simply as a “reserve”) is the confidential minimum price for selling auction lots. 

If a lot has a known reserve price, we’ll tell you on the page where you enter your bid. When you bid on works with a reserve and your maximum bid meets or exceeds the reserve, we’ll automatically bid up to the reserve price and continue as needed. 

Some live sales may have unknown reserves. We’ll try to represent those as accurately as we can. In live sales, the auctioneer’s decision is the final one.