Quote:
Originally Posted by barrysloate
Wes- I agree that giving a consignor a certain minimum guarantee is an accepted practice, and many times it's the prudent thing to do.
But a house bid that protects a lot should be placed only by the auction house. If I understand Heritage's policy, they are letting consignors place the bids themselves as they see fit? It's hard to imagine that is a good policy.
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If it helps them with consignors and doesn't hurt them with buyers, why isn't it a good policy?