Quote:
Originally Posted by begsu1013
each state is different and may have laws preventing such action.
i don't know, not an attorney but heritage is allowed to do so by texas law.
apart from obvious integrity issues, being allowed by law is pretty key.
but again, would like to see the legislature read that if any auction house does bid and win, that the 20% buyer's premium should go to the consignor.
of course, then they'd prolly just claim it was a non-paying bidder and we're back at square one again...
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How often do you guess House wins lots and use the non-paying bidder ploy and what happens next? Do they contact the next highest bidder or do they re-list? Prior to the internet when AHs were utilizing phone call in's to place bids. I'm sure the house bump was a standard that was employed routinely because of the lack of "hard" paper trail with phone bumps.