At a reserve auction , the seller reserves the right to accept or reject the highest bid on all or specified items. First, the auctioneer meets with the potential seller to discuss when and what to sell.
Merchandise is evaluated and can be appraised.
The auctioneer proposes an auction date, location, time of auction, a budget for proposed advertising, auction commission, and other matters. When the terms of the proposal are agreed upon, a contract is initiated. The auction service then conducts an advertising campaign to ensure good attendance. In the meantime, the seller cleans, groups, and organizes the items to be auctioned to make them more marketable on auction day. Prospective buyers have an opportunity to preview the goods being auctioned prior to the start of the auction and may ask questions about particular items.