Quote:
Originally Posted by nolemmings
On the other hand, I don't necessarily understand why they can't simply have a straight bidding process with the auction house just taking its cut from the final hammer price. The same bidder presumably will offer his same $200. I suspect it is designed to have some psychological effect or some hidden unappreciated impact...
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I've always understood it to be just that, but for the consignor, not the bidder. I've spoken to a number of first-time consignors that got taken in by the whole "low consignment fee" offer, thinking they're getting the full amount, outside of the consignment fee.