Quote:
Originally Posted by Peter_Spaeth
So they can run you up to the reserve. I am surprised there has not been more angst about this. Back in the day there might have been.
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Peter,
That is a recognized practice among most major auction houses, disclosure of which is buried in the fine print of the auction rules. I characterize it as legalized fraud, as its purpose is to induce bids on the mistaken belief there is genuine interest at that bidding level.