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Net54baseball.com Forums - View Single Post - Guess The Hammer Price 1952 Mantle
Thread: Guess The Hammer Price 1952 Mantle
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  #6  
Old 10-08-2016, 04:52 PM
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irv irv is offline
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Quote:
Originally Posted by 1952boyntoncollector View Post
Right after the auction they always say 'sold' or something to the effect of the final sales price even though never got payment yet....i would think it would not look good to an AH to announce that a winning bidder on a 200k card did not pay because in future auctions people may not be willing to offer highest dollar when there are some bidders that are competing with dont actually pay..
So what happens to those who bid/win but don't pay?

I would also assume, after some time has passed, that the A/H corrects the sold price to that of what the underbidder bid?

Just thinking? What would happen, with the unbidder thinking he didn't win, all of a sudden being told he told? Is he now obligated to purchase the card? What if he spent his money elsewhere before he found out? What happens in that case?
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