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Old 01-22-2005, 08:30 PM
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Default Can anyone explain this to me?

Posted By: MW

tbob,

It appears that in the event of a tie bid (even if one is placed earlier via the Internet), the auctioneer has final sales discretion -- i.e., it can be sold to either bidder. Here are the applicable parts of the terms and conditions from Philip Weiss auctions:


"In rare cases an absentee bid that has been submitted through the Internet, may not be accepted by the Auctioneer conducting the sale (in some cases, an equivalent absentee bid may have been left directly with us at our offices). This may occur even when the Internet absentee bid was placed earlier than an equivalent absentee bid. In all cases the auctioneer has final discretion over which bids to accept."


Also:


"In The Event of a Bidding Dispute, The Auctioneer's Decision is Final. In The Event of a Tie Bid, Preference Will Be Given To The Earliest Absentee Bid Received Or To Bidder's Present On Floor."

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