GoMotorBids will occassionally set a Reserve Price that is above the minimum starting bid, in an effort to protect the investment that either we or a consignee has made in a particular item. If a reserve price is in effect, then GoMotorBids does not have to sell the item unless the high bid meets or exceeds the reserve.  Auctions with a reserve price will be noted in their listing, describing whether the reserve has been met or not.  The actual amount of the reserve price may or may not be revealed to bidders.

When you submit a bid on a reserve price auction, one of three things might happen:

(1) If the reserve has already been met, then your bid will be submitted at one increment above the next highest competitor, in the same manner as an auction without a reserve price.

(2) If the reserve has not been met, and your maximum bid is also less than the reserve, then your bid will be entered at one increment above the next highest competitor.

(3) If the reserve has not been met, but your maximum bid is enough to meet the reserve, then your bid will be entered at one increment above the next highest competitor and at that point, the item will sell to the highest bidder.  If your maximum was above the GoMotorBids reserve, then your robobid will defend your bid, up to your maximum.

If you are the highest bidder at auction close but the reserve was not met, then GoMotorBids is not obligated to the transaction.