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Old 06-01-2008, 10:57 AM
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Default Let's Rate The Auction Houses

Posted By: Anthony N.

They aren't the only auction houses that do this, and sometimes it's in the consigners best interest to have a quick guaranteed sale brokered by the house. Additionally, the lot may be house owned, so they can do as they wish.
It takes 2 to drive a lot up (unless it's being shilled or has a hidden reserve) and in the absence of an underbidder (or a bidder than will go considerably higher than a potential underbidder) a direct pre auction sale can be the best way of maximizing the consignors return.
Not saying it's right in all cases, but it is certainly not limited to the auction houses Jim cited.

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