On Thu, 07 Jul 2011 17:45:28 +0100 Andrew May wrote :
I've been to an auction where the winning bid was above the guide price
and the auctioneer then announced that it had not reached the reserve.

Standard practice here in Melbourne where there are hundreds of auctions
each week - it's the normal way of selling in many suburbs. Guide price
in the adverts will be (say) $600K-650K and then the Sunday paper will
say that it was passed in (not sold) at $680K.

--
Tony Bryer, Greentram: 'Software to build on',
Melbourne, Australia www.greentram.com