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Posted By: barrysloate

Corey- While I agree in spirit with everything you just said, the only point I might make is that fake reserves and shill bidding can entice unwary bidders into going higher than they should in many cases, but I would like to think that at the 150K level bidders have their feet on the ground and have thought out exactly what they are doing. That's an awful lot of money to bid based purely on trying to guess the reserve. But I agree that these private auctions are dreadful because anyone can register under two different names and just bid his own auction up since nobody has a clue if anyone else is really participating.