Quote:
Originally Posted by oldjudge
Scott-I don’t believe you are right. You must accept Goldin’s terms and conditions before bidding. The following statement is in these terms:
“Placing a bid is a legal contract. Once a bid is placed, you cannot retract it. ”
Since you have already contractually agreed to this you cannot retract a bid, once placed, without the approval of the auction house.
|
I have this discussion periodically on here. It is a UCC right. You can't sign away your UCC rights. They can say whatever they want. They can refuse your bid but they can't refuse your retraction once they accept your bid.