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What is a ‘vendor bid’ at auction?

Posted by admin on March 6, 2019
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The seller has the right to make one bid themselves during the auction, which is known as a vendor bid. If the seller exercises this right the auctioneer will clearly announce that a vendor bid has been made.

You should view a vendor bid as the auctioneer’s indication that the current level of bidding is below the seller’s expectations. If you are intent on buying, you will need to bid above the vendor bid.

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