Quote:
Originally Posted by Leon
Then you get outbid on one you are going for, won't go higher, and your second choice just closed. I agree I like lot by lot ending the best but there is no perfect ending.
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Hi Leon it’s JoeT. Personally, I hate “lot by lot” closing. I cannot tell you how many times I’ve fallen short in a huge bidding war, with it too late to revisit the remaining lots I was also interested in because they closed. True, the auction ends earlier, but I rather trade a single night of good sleep for a great memorabilia piece any day of the week! Also, from a Consignors perspective, I can only imagine the number of bids the lot by lot closing format costs the Consignors. I always felt it is the auction house’s #1 responsibility to do whatever it can to maximize bids via marketing, presentation, bidding process, etc. Simply stated, no consignments = no auction business.