Posted By:
Griffin'sThis situation has come up on me twice.
The first time I was the underbidder, and was offered the lot for the amount of my max bid. I argued that since the top bidder wasn't legit then all of his (since I know it wasn't Julie or Joanne) bids should have been cancelled and I get it for the increment over the 3rd guy. Not even close. Take or or leave it for my max, and I took it.
The other time something different happened. I won a lot and paid for it, and while I was waiting for it to be shipped the very same cards (same certs) popped up in another auction houses catalog. Turns out a lot of auction houses have the policy that in the case of a non paying bidder the lot can either A. Be offered to the underbidder B relisted or C sent back to the consignor. The auction house assumed B, and listed the item(s). In reality the consignor opted for C and sent it to the other auction house. In the end the one I won it for went above and beyond to make the situation right, but it does show that non paying bidders aren't a totally unheard of occurance.