Quote:
Originally Posted by rand1com
So $300K reserve becomes $360K to the buyer plus sales tax of another $20K or so depending on the state. This set missing 2 keys of the 520 is not worth close to $400K to a collector. Hence, no buyer. If it had been announced at the outset that there was a reserve, it would have saved a lot of bidding.
At least Heritage starts their auctions at the reserve if there is one. They would have started it at $300K and there would have been zero bids. Saves a lot of wasted time for bidders.
|
Heritage posts the reserve and raises the lot to the reserve 48 hours prior to the auction ending, not at the start. Although they might mention it has a reserve from the beginning.