Auction terms used by the auctioneer.

The term “Passed” means that lot being auctioned off did not meet the seller’s reserve. Here are other terms you might want to be familiar with:

• Sold. The lot sold to the highest bidder.
• Passed. The lot did not sell because the high bid did not meet the seller’s reserve.
• Owner Confirmation. The high bid did not meet the seller’s reserve, but it is close enough to get the owner of the lot to consider selling the lot anyway.
• On A Phone Call. Similar to “Owner Confirmation”, this term means that we will call the owner to see if he or she wants to sell the lot for the highest bid.