Quote:
Originally Posted by benjulmag
Heritage does not have the same rules. They indicate a few days before closing whether the item has met the reserve, and if it has not, they raise the bid to the reserve price. So at that point forward a bidder will know that any bids reflect real bids.
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Any Heritage employee can bid on any lot -- without the bids being divulged. So you can take from that what you will. That certainly provides a
de facto reserve.