I received a number of comments after the hidden reserve feature was activated last December.  Not many of them were all that good. So... I heard you.

The new changes are the following:

When dealers enter a new specimen into the database they have the option of using the hidden reserve system - or not. 

If a specimen is entered using the hidden reserve system you will be able to determine this at the begining of the auction as it will say "Reserve Not Met" above the specimen.  If the dealer opts not to use the hidden reserve system then it will have the reserve bid clearly stated above the specimen.  For example: "Reserve = $50.00". 

When the reserve bid is zero or has been met through bidding then "Reserve Met" will appear above the specimen.
 
 

Bidding for specimens with a Hidden Reserve:

When entering a bid using the system if your bid is below the reserve you will be notified of that fact after entering your bid.  You will have the choice of entering a new higher bid at that time or leaving the bidding for that specimen.  If you decide to leave then your maximum bid will be posted to the table of bids entered even though it was below the hidden reserve.  Subsequent bidders will have to bid at least one dollar above that amount or higher.  If you enter a bid that meets or exceeds the hidden reserve then the hidden reserve amount the dealer had on the specimen will be entered into the bid table.  Subsequent bidders will have to enter a bid at least one dollar above the amount on the table from then on.  Once the reserve is met bidding is the same as before with the highest bid after the close of the auction being awarded the specimen.  If bidding never reaches the hidden reserve the specimen will not be awarded.
 
 

Bidding for specimens with a Reserve:

You will be able to see what the dealer wants for his or her specimen as a minimum bid.  Your bid will not be accepted unless it is equal to or exceeds the reserve posted.  Once the reserve is met bidding is the same as before with the highest bid after the close of the auction being awarded the specimen. 

If you have any questions please contact me for further clarification.

Thanks for your interest!