Full Glossary
Pricing & Fees

No Reserve

An auction lot or entire sale with no minimum acceptable price — the item sells to the highest bidder regardless of the final amount. Also called 'absolute auction' when applied to an entire sale. No-reserve lots typically attract more bidders and generate higher participation.

How It Works in Practice

No-reserve auctions create urgency and excitement: every bidder knows they have a real chance of winning. This typically increases participation and can drive prices above expectations. The trade-off is risk — items can sell for far below value on low-attendance days. Most estate auctions run either fully no-reserve (to clear the entire house) or with reserves only on the top 5–10 highest-value lots. Professional auctioneers manage this risk through effective marketing and strategic timing.

Frequently Asked Questions

Should I run a no reserve auction?
For estate auctions with general household goods, no-reserve is typically best — it attracts the most bidders and clears the house. For high-value items (fine art, jewelry, rare collectibles), consider setting reserves on the top lots to protect against underperformance. Many auctioneers run 90% no-reserve with reserves only on items where selling below a certain threshold would harm the estate.
Do no reserve auctions get higher prices?
Often yes, because more bidders participate when there's no minimum. Competitive bidding among more participants frequently pushes final prices above what a reserve-protected lot achieves with fewer bidders. However, this depends on effective marketing driving attendance. A no-reserve auction with poor marketing risks low prices. The combination of no reserve + strong marketing + good catalog descriptions produces the best results.

Related Terms

Reserve PriceHammer PriceBuyer's Premium
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