offer

[lliw1941]

if I submit an offer can it be refused if the item does not have a reserve bid?

[kroutpick]

Are you talking about "direct offer" ?  If yes, the seller is free to accept or decline your offer.

If you're talking about an auction with reserve bid : if the bid at the end of the auction doesn't reach the reserve , the item won't sell.

If it's a regular auction, the item will sells at the last bid price at the end of the auction

[femmefan1946]

In a regular eBay auction, the winning bid will be the highest, not necessarily the last. The winner could have bid within seconds of listing and still beat out all other bidders, provided her bid is high enough.