Some websites, like Hubzu.com show if there is a reserve amount and whether or not it has been met.
Sometimes, the Seller still has the right to decline the highest bid (for reasons like proposed closing date, financing vs cash, etc).
Some auctions require a deposit be made before bidding begins, so it may have disregarded your bid if you did not have a deposit in.
It really depends on what type of auction and through what vendor it was performed.
Make sure to read the rules/guidelines/procedure with any auction situation. I just did an auction with a client that actually had a "buy it now" function and we did it that way and got the property even though we weren't the highest bid. It's allllll about the fine print.
In the reserves section will be the details regarding 'blind reserves.'
If this part of the auction process is distressing you---you really, really, really, need to read the purchase contracts to get a grip on the full spectrum of risk to which you may be exposed. The bidding process is elementary.
Lic. Florida Real Estate Brokerage
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