Unless an auction is advertised or announced to be without reserve, when a bid is made at an auction, it can be withdrawn if the auctioneer has not yet accepted the bid, because the auctioneer has the power of acceptance.

Question

Quizplus · Accepted Answer

In an auction without reserve, once a bid is made, it cannot be withdrawn if the auctioneer accepts it. However, in auctions not explicitly stated as without reserve, bids can be withdrawn until the auctioneer signifies acceptance, as the auctioneer holds the power to accept or reject bids.

Unless an Auction Is Advertised or Announced to Be Without