Allowing bids on any lot in O/T and not closing lot by lot definitely increases the prices realized overall in a major auction. I know I am not unique in this respect. I am a budget bidder and I have had a number of situations where my bid triaging has led to my not being able to bid on some items, which has cost the consignors money. It happened in August in Huggins & Scott. They had an incredible basketball card offering. I was pursuing something and had to assume a budget maximum win there. When I lost the priority item in O/T I was then unable to pursue any of the alternative basketball cards I would have liked to have bid on because I had not bid on those lots before O/T. The consignor lost out and I lost out. Only the bidders who got those cards won. H & S recognizes that is the consequence of a lot-by-lot closing system--it touts its system as bidder friendly in the auction rules--and by definition that means it is consignor unfriendly. If I have a choice as a consignor between a lot by lot AH and an entire auction close AH, all other things being equal I will go with the all close at once company.
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