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Gem Gehrig @ Heritage
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02-12-2016, 09:18 PM
ValKehl
Val Kehl
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Join Date: May 2009
Location: Manassas, VA (DC suburb)
Posts: 3,548
Dan, to be a nitpicker, in the example you gave, the expected high bid at an auction house with a 20% BP would be $416.67 (rather than $400.00). This figure is determined by dividing $500.00 by 120% (i.e., 1.20).
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