Report Rare - Rare Find ! in KExx Corolla Discussion Posted March 5, 2021 · Edited March 5, 2021 by Hiro Protagonist On 3/3/2021 at 5:35 PM, Banjo said: Anyone know what "Reserve Lifted" means ? It sounds like it had a reserve of $ 10K on it, & as it has surpassed that mark, the reserve has been met. However, could it mean, that the reserve has been increased/lifted; & if it doesn't reach that newer/higher amount, the highest bidder does not necessarily win the auction ? Cheers Banjo P.S. Just got an email from Collecting Cars, with link to the website that advised, & answered my query as follows. NO RESERVE Reserve lifted may mean that it has actually hit the reserve mark by that point, but the seller/agent has decided to remove the reserve (think of it as "lifting" a restriction) in a way of sparking further interest rather than waiting for the reserve to actually be met (sometimes bidding will peter out before meeting the reserve as people lose interest not knowing how high the reserve floor is). You'll see it a lot with house auctions, agents/auctioneers will notice that buyers are losing interest before the reserve is met and will pause/halt the auction to confer with the seller to see if they want to stick to their original reserve and possibly let the auction "pass in", ie not meet the reserve and there is no obligation to sell to the highest bidder (but there is the option for private negotiation afterwards) or if they want to lift the reserve and the auction then becomes "absolute" (ie it _will_ sell to the highest legitimate bid) Not sure of the legalities, but increasing the reserve price once an auction has started would be incredibly unethical.