Quote:
Originally Posted by t206hound
Based on the H&S lot selling for $822.50, I believe the final bid was $700. So the "profit" was $28.78? Had they let the previous bid of $650 take the auction, they would have received $113.75 in juice.
Or is my math off here?
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No Erick you are correct. H&S will always be out the profit of the previous increments BP amount if HOC wins.
Im 99% certain H&S would make HOC pay the BP as each lot required effort to scan, detail, receive, ship and process the funds.
HOC then is in the same boat as all of us, paying a 20% premium on lots and have to find a way to make a profit on the flip. Now maybe its just a risk they take while trying to bump up auctions and occasionally win but I doubt this as your one example shows a significant loss of profit.