Conditional Sale Information Lot Compass operates its auctions with transparency promoting open and up-front information by utilizing Published & Subject to Sellers Confirmation Reserves. Published Reserve - Firm Reserve set by Seller Subject to Seller Confirmation - Seller may have multiple items in auction and are open to either averaging their reserves or deciding to accept a bid less that their reserve. For example, 2 lots have a $100 reserve. One lot sells for $125 so the second one can be sold for $75. Conditional Sale - For lots with reserves that do not get met, Compass uses Conditional Sales. A "Conditional Sale" means that the highest bid is held and offered to the Seller for approval. Compass holds the highest bid (legally binding) until 5:00 pm EST on auction day, if your bid is confirmed with the seller by that time, you are the new owner of the item. After this time, and if your highest bid has not yet been accepted, bidder may choose to retract their offer. Thank you for your business. If you have any questions, please do not hesitate to contact us! -Team Compass 423-702-6180 info@
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