Vendor bidding is legal and a part of the process and:
- Can only be made below the reserve and up to 10 vendor bids are allowed (never on the reserve).
- Is a guide to what the seller will not accept.
- Vendor Final Bid is usually just below reserve. Some conditional buyers wait to see if the Vendor Final Bid sounds like good value before bidding or putting in offers.
- Vendor bidding can keep the Auction flowing.
- Vendor bidding is normally conducted through the Auctioneer.
- Vendor bidding has to be disclosed to Buyers.