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If my MultiBID doesn’t reach the reserve price, what happens next?

UPDATE:  June 25, 2023

After much discussion, we have made a change to the use of a Reserve Price.  Effective immediately all MultiBID’s will no longer require or implement a Reserve Price function.  Since ALL PLACED BIDS are effectively legal and binding, the option to accept the highest (final) bid will always be up to the owners discretion.

For that reason, at the end of every Live MultiBID Event there will be a HOLD status in place in order to permit the Seller the right to accept the highest bid or not.  Consequently, if for any reason (legal consequences aside), the highest bidder is not able to fulfill the execution of their bid, the Seller will have the option to accept the next highest bid in turn.  In such occurrences, the Buyer will still need to pay the MultiBID Buyer Premium and may also be subject to legal ramifications.

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