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Can we sell & buy items at an aution.

Answered according to Hanafi Fiqh by Askimam.org

If I sell an item and put a reserve price of say R100 and the bidders bid R200, can I conclude the sale at R200? Likewise can I bid for an item and conclude the sale at a price higher than the reserve?

Answer

It is permissible to buy and sell by means of an auction. That was also
practised by Rasulullah (Sallallaahu Alayhi Wasallam).

and Allah Ta’ala Knows Best

Mufti Ebrahim Desai
FATWA DEPT.

Original Source Link

This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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