What is a reserve price at a watch auction?
A reserve is the lowest hammer price the consignor will accept. It is not always published. Bidding can sit below reserve until the floor catches up or the sale ends.
Quick answer
If bidding finishes below reserve, the lot usually does not sell. ChronoBid may show statuses such as Unsold or Reserve Not Met when the API provides them. Ask before you assume every live lot must sell.
Why houses use reserves
Sellers often need a floor so the watch is not given away. The house agrees a reserve during consignment.
Buyers still see the current bid and next minimum. They may not see the exact reserve figure.
What you see as a bidder
Bid to a number you can afford after premium. Do not assume the current highest bid has cleared reserve.
After close, sold lots appear in Auction Results when genuine hammers exist. Unsold lots should not be dressed up as sales.
For consignors
Reserve strategy is part of assessment and consignment terms. Unrealistic reserves can leave a watch unsold and may attract unsold charges on Auction Fees.
Start with Sell Your Watch if you want an estimate range before agreeing a reserve.