Posted By:
Corey R. ShanusI agree that the priority of the auction house is to maximize the auction's gross. Fairness though is not entirely irrelevant because bidders' perceptions of a system's fairness do impact behavior. For example, with the Clean Sweep rule now penalizing bidders who place bids after 1:30am, that idea offends me so much that if I find I am topped after that hour it probably would, for non-financial reasons, impact my decision whether to place another bid. Bottom line -- I politely disagree that Mastro's system maximizes auction gross.
As to your question whether I have ever lost a lot in a Mastro auction due to the rule, the answer is I don't know. I don't remember when they instituted it and the closing sequence of lots in those auctions. But I can tell you this. Had such a system been the norm hobby-wide over the past number of years, there would be more than a few things in my collection that I value very much that I would not now own.