Quote:
Originally Posted by calvindog
For sure, but I think that sustained investment capital will not continue as long as auction houses are permitted to bid on their own lots and fraud is still so rampant. There are easier investment waters to navigate.
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I agree AH's shouldn't be able to bid in their own auctions. That said, and as devil's advocate.....and beside the point they get to see the bids (my main reason they shouldn't be able to bid as well as paying commissions), why? If I am a consignor and you bid 1000 and the AH bids 1100, why is that bad for me? I am getting more for my consignment. Again, just being devil's advocate. I absolutely agree though.