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Posted By: barrysloate

Hi Bruce- not a big deal, but I think nearly all my lots end at double or triple the opening bid, but that is irrelevant because I start them very low. It still doesn't reflect whether the lot did well or not.

I don't want to speak for Seth, but I think I understand his strategy. Because the market is down and prices are unpredictable, he may have sensed too much of a risk in the "start low, and the lots will reach their level" approach. And rather than play around with hidden reserves, he took the high road and just started the lots at the minimum price he was willing take. That does at least provide a greater level of transparency.

Yes, the downside is it turns bidders off somewhat. I went through the auction pretty carefully but found the starters a little too high for me, but I am not a collector. We may start seeing more of these high openers as long as the market is down.