Quote:
Originally Posted by Hankphenom
What about the scenario whereby the bidding never reaches the hidden reserve, but the buyer would have been happy to pay that amount had he known what it was, and obviously the seller would have been happy with the reserve price, but the item doesn't get there and doesn't sell? So now nobody's happy because of the hidden reserve strategy. I wonder how often that happens?
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My guess, quite often. And,.........if the reserves were disclosed then the bidder could at least pick up the phone and say, "He, I'll pay the reserve now that the curtain has been pulled back and I know what it is."
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