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Posted By: Jay

It seems to me that the only fair thing to all concerned is to offer the lot to the underbidder at what he would have won the lot for if the renegger had never bid. The difference between that amount and the "winning bid" should be the amount that the auction company should sue the renegger for. The case should be pretty simple and that would keep the consignor whole. Also, the renegger's name should be publically disclosed so other auction houses know about him and hopefully remove him from their mailing lists.