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Posted By: Jeff Lichtman

Jim, and what if the consignor, whose card worth 20K is at 5K with a minute to go, bids and bids to try to 'buy' it back and then finds that he's still the underbidder at 19K because the top bidder put a ceiling bid in at 20K? And then he lays off the card. And Mastro allows this to occur because they allow consignors to bid on their own auctions. Is that still fair? Of course not. It's fraud.