What does Reserve Not Met mean?

The Reserve is the minimum value that we anticipate our partners will accept for an Auction lot.  A lot may not be awarded if the Reserve has not met.

It is possible to place the winning bid on a lot but not be awarded the lot if the Reserve has not been met.

You will be notified both by email and in the auction if your bid is below the Reserve, as in this example:

When this happens, you may need to increase your bid until the lot says Reserve Met in order to have a better chance of price approval from our partner if you win the lot.