Quote:
Originally Posted by benjulmag
If the software was set up properly, they would have been able to increase their own bids without contacting the AH.
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Bingo. If Heritage allowed for “straight bids” instead of just “max bids”, then Powell could have kept bidding against himself and theoretically kept the set lot open. Or at least unilaterally raised the price on the set lot. Without that option, he was at the mercy of having a dance partner to keep bidding against him on the set lot, thereby enabling the set lot to keep rising in price above the price at which the individual lots were closing in the aggregate.
Some AHs, but not all, do allow for straight bids.
So I suppose there’s another strategy to take here if you only want to bid on the full set. Enter into an alliance with a buddy who will keep bidding against you on the set side so that you don’t get locked out. Just make sure you have a safe word for when it’s time to tap out!