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?
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