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in an art auction , what does the term "bought in" mean?


Bought In – If there are no bids on a lot, or if bidding does not reach the reserve price, the lot is considered "bought in." This means that the lot is left unsold and remains the property of the owner.

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2 Responses to “in an art auction , what does the term "bought in" mean?”

  1. Bought In – If there are no bids on a lot, or if bidding does not reach the reserve price, the lot is considered "bought in." This means that the lot is left unsold and remains the property of the owner.
    References :
    http://www.auctionsneapolitan.com/glossary.htm

  2. Unsold, not reaching minimal price. Usually it implies it will get a retry in the next auction.

    In auctions I think you could mean "bRought in". Brought in is a common term in auctions. Take/took an object to be auctioned.

    "I brought in a painting. It fetched a handsome sum."
    References :

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