How do reserves work in the Legendary auction?

[paul]

I've sent an email to Legendary about this, but thought I'd ask here too in case they are slow in responding.

Some of the lot descriptions state that the card has an undisclosed reserve. Do any of you know if there's some sort of signal to let you know that your bid has met the reserve?

Does it matter how much the underbidder has bid in determining whether you've met the reserve? For example, let's say the reserve on a card is $5,000. You place a max bid of $6,000. The next highest bid is only $2,000. Do you get the card for $5,000? Or does your bid register only as $2,500, so you get nothing? (I know there's also the chance that you get the card for $6,000, but that's not what I'm trying to find out by this post).

One more question. Let's say I bid $2,500 but the reserve is $5,000. I don't bid any more than that because I'm the high bidder, but I'd be willing to go higher if there was competition. Will Legendary tell me at some point that I haven't met the reserve so I have an opportunity to raise my bid? Or do I go to bed thinking I won the card cheap, and it goes unsold?

Thanks in advance.