What is the difference between a Reserve Auctions vs a NO Reserve Auction?

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What is the difference between a Reserve Auctions vs a NO Reserve Auction?

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Reserve auctions are auctions that start at a minimum bid of some sort with a disclosed reserve price only known by the seller. This disclosed reserve price MUST be met in order for the item to sell. While NO reserve auctions, the high bidder at the time the auction ends is the winner, regardless of the ending price.

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