What is the most likely reason to lose a bid?

Non-compliance is a common reason for losing a bid. Missing details from the buyer’s registration, false proof of funds, refusal to comply with the Terms and Conditions of Sale. If the buyer’s agent does not properly register the buyer with the Auctioneer, the Buyer’s Agent may not qualify for compensation. Other reasons to lose a bid may include bid rigging, bid suppressions or in other words trying to manipulate other bidders from participation in a public open market competition.