If bid

Used by an auctioneer to indicate that the highest bid has not met the seller’s reserve price and that if the high bidder wishes, the seller can be contacted after the auction to see if the high bid is acceptable.  If the seller chooses to accept the high bid, the bidder will be given the opportunity to purchase the item at that amount.  Of course since the auction for that item was closed, the high bidder can rescind the bid at that time.