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If bidding fails to meet the reserve, the auctioneer may withdraw the property without accepting the highest bid.
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It sold for $630,000 in 2007, but bidding failed to meet reserve in 2010.
That amount does not include a block for which bidding failed to meet the reserve price.
Phillips bought market share, mainly by giving sellers lavish guarantees, promises to buy items at pre-agreed prices if the bidding failed to go high enough.
Though bidding failed to meet expectations, $38 million sets a new high for a classic car market that has surged in recent years.
And if Mr. Dell's bid fails, appraisal rights don't come into play at all.
Those on Merseyside will hardly be distraught if an acceptable bid fails to materialise.
If the membership bid fails in the Security Council, the General Assembly is expected to take up the matter.
September 1993 Manchester's Olympic bid fails, making it the third successive unsuccessful UK bid for the games.
Regardless of whether a Hershey bid surfaces, she will have another chance at Cadbury down the road if her current bid fails.
"Supporters will be asked to pledge 10% of their investment into this account and guaranteed that the money will be returned if the bid fails.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com