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. In an AI-cataloged sale, the value tier assigned to each lot offers a quick triage: feature lots ($200 and up) are the natural candidates for a reserve conversation with the consignor, while standard and box lots can usually run without one.
Frequently Asked Questions
Should I run a no reserve auction?
Do no reserve auctions get higher prices?
Related Terms
Learn More
Catalog Faster with AI
Gavelist generates professional lot descriptions from your photos in seconds — across every auction category, at any volume.