I guess at the end of the day it's really like a fixed price sale on the lots with reserves. They decide to hold an auction to see if anyone is willing to pay "more" than the sale price. I just bid assuming all lots have a reserve and the house/consignor may have a different opinion than I do what the real value of the item is. Sometimes I win, not really the right way to express it, maybe it would be better to say, sometimes we agree on the value, sometimes not.
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