Posted By:
Hal LewisLeon:
Do you know if the Major auction houses ever do this (allow sellers to set their own very high reserve)??
I quite frankly relied on Leland's to set the "minimum bid" for my card, as they have more experience in the "psychology" of selling things than I do.
Do you think Mastro would have accepted the Reccius Wagner for their auction if I had told them to set a minimum bid of $100,000?
I can't remember anything with the big auction houses ever starting that high... and if it did, it was something clearly worth a ton more.
It seems sort of a Hobson's Choice if someone is supposed to use a Major Auction house to sell because they have great reputations... but then the process of setting a hidden reserve is blasted when the small auction houses do the same thing (but in the open)?
I guess what you are saying is that someone who really does NOT want to sell but will sell only if the "price is right" is out of luck if he wants to use one of the Major auction houses?
Or not, I just don't know their practices as well as other might?