Quote:
Originally Posted by Jcosta19
A little disappointing for collectors, especially with the auction house being involved at some level. Curious how others feel.
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I would bet that the "involvement" of the auction house was to be called by Mr. Horwitz, who had probably never bid in their auctions before, and informed that he was going to win a list of lots no matter what the cost, and how would he best go about that without causing any red flags to pop up during the auction that would potentially cause his mission to fail.
By red flags, I mean, as an example, I would assume that the auction house is aware of my own bidding history and if I were to put in bids totaling more than $1,000,000 they might be a bit alarmed and at some point they might stop me from bidding, unless I could prove to them that I am "good for it" (which I'm not, hahahaha).
Mr. Horwitz wouldn't have wanted that to happen to him on the closing night and potentially lose an item that he wanted.
I would bet that they checked his credit, maybe even received a "deposit" from him for the estimate of the list of items, and then let him put in a $10,000,000 bid on each item he wanted, with a promise of a phone call if anything went beyond his high bid.
By doing this, Mr. Horwitz made sure to pay the full market value of each individual item, and none of us collectors who lost out were treated anything but fairly.
Fair warning : I plan to do the same thing when Rich Rowland auctions his career collection.
Doug