An auction termed referring to when a property does not meet a reserve price set by the vendor.
at auction, a property is 'passed in' if the highest bid hasn't reached the vendor's reserve price.
When at auction, the high bid on a piece of property does not meet reserve price.
If the horse has failed to reach its reserve price at auction.
A property will be passed in at Auction if it does not meet the set Reserve price.
The highest bid fails to meet the reserve price of a property at an auction and consequently does not sell.
When a property fails to sell at auction, it is said to be 'passed inâ€™ at the highest bid.
Property is "passed in" at auction if the highest bid fails to meet the reserve price set by the vendor
A property is â€œpassed inâ€ at auction if the highest bid fails to reach the reserve price
A property is "passed in" at auction if the highest bid is less than the vendor's reserve price. The person making the highest bid has the first option to negotiate further with the vendor.