Posted By:
Carl LamendolaI was bidding on Lot #11 on the Phone. Mayfair Candies. I tried to bid $10,500 when the bid was $10,000. Was not accepted...but look at Rule #5....
5. To place a proxy bid via internet, fax or phone, you must bid at least 10% higher by whole dollar amounts up to $10,000. After $10,000 the minimum proxy bid increment is 5%. There are absolutely no exceptions to the raise amounts. Placing a bid constitutes acceptance of the terms of sale as outlined herein. Bid amounts utilized during the Live Event are employed at the sole discretion of the auctioneer, but will generally increase based on the above increments.
Last I checked 5% of $10,000 * 5% is $10,500...