Yes. A reserve/minimum is a protection point and not an asking price. A reserve price should be set at lower than what you think the land is going to sell for, but high enough that you are protected from a financial disaster. After years and years of conducting auctions, studying the data, and experiencing the results, DreamDirt auctioneers have developed a science to setting a reserve price. When lifted at a crucial moment during the auction, this signals commitment to your buyers and drives even further bidder competition.