[Archive]

Posted By: Cat

The fine print of almost all the auction houses states that if a bidder renegs on a bid that they may sell to the next highest bidder and then go after the first bidder for the incremental difference (inclusive of the vig, legal fees, etc. etc.).

The cancelling of the the underbidder bids from renegged bidders seems to be an unspoken and unwritten thing the DOES NOT happen.