So, let me get this correct:
- Auction house owners don't want to have open reserves because it will look bad and hurt future business if any/many lots go unsold. So how does going to prison look for future business ventures?
- As for consignors, if I am to believe that they actually paid the BP for any of their items that they ended up being the high bidder on, how can it be a good business decision to pay 20% BP on your own item instead of letting it go for a little less than you had invested into it? I know it depends on which is greater, the BP or the loss? But if you "bought" your own item back, you still have it and have to try to sell it again later.
- For those caught this time, but only once, really? This is just the data for a single AH over just a 3 year period. Imagine if it were opened up to all AHs for the past 10-15 years? Just this once? Just like the drunk driver that was caught and he says, "this was the only time I drove drunk". Yeah right.
- Can you imagine what it would look like if you could get this type of information for eBay
