Saying no to the highest bid during an auction should be considered carefully and with caution. As a seller, when you say no to the high bid during an auction, auction law dictates that all bids become void and bidding moves back to $0. Some believe this ‘buys time’ and they are allowed to go back and accept the bid. This is untrue. If a farm auction was properly marketed and conducted, then the highest market value was likely already achieved by the highest bid.