Posted By:
cmokingI only want to comment on this section of Colt's post. He wrote:
"Mile High did everything correct here, and the consignor was simply trying to maximize the value of the item at auction. Think about it - who has more motivation to get top dollar on a consignment - the auction house (probably getting just the 17.5% buyer's premium on a significant consignment like this) or the consignor (probably getting 100% of the hammer price)?"
It could be the consignor or it could be the auction house. While you listed the argument that the consignor could be more motivated, the motivation for the auction house is a high sale, a visible card, and thus more consignments in the future. I do not see the answer to your question as clear cut either way. It could be either.