Auction Lots Sold to Underbidders?

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Posted By: Brock G.

My bid in the Mastro auction last night came up just short on the lot I was bidding on and reading through Mastro's conditions of sale today I read that if the winning bidder fails to pay for their winnings, the given lot can be sold to an underbidder. Reading this has given me the slightest bit of hope that I may still win the item. I was wondering if anyone on this board has ever won an item in this manner from Mastro or any other auction house?

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Posted By: Mark

Brock...

Yes, but very rarely does this happen. It has happened for me only twice (in the past 15 years), and never with Mastro. I would imagine that Mastro's clientele has among the highest percentage of honored bids in the hobby. I will keep my fingers crossed for you, though...

Seems like there are still some bargains out there, unless bidding picks up significantly tonight. I was lucky enough to snag 2 lots at good prices last night, but will have to take a pass on tonight (as well as with REA and Heritage).

Outside of the rare Fan-Taz Dispenser and Mueller Clock, which will probably sell for the same approximate amount (and neither of which I can remotely afford), REA didn't have too many exciting offerings on the memorabilia side, anyway.

I would have gone for the pair of early Athletcs Pennants, if I didn't already have the Connie Mack Ringmaster version. I wish REA didn't pair those two up. It looks like someone may steal that pairing (the Connie Mack Pennant alone is worth a lot more than the current high bid).

If anyone reading this wants to do a 50/50 "split" on that lot in REA, please write me. Or if the winning bidder reads this, and wants to sell the other pennant (head-on elephant), please write.

Thanks, and sorry for rambling!

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Posted By: Phil Garry

I think this process is more prevalent in Hunt Auctions as compared to any other auction house. I guess it is more conducive to a live auction environment.

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Posted By: Brock G.

Hey Mark, you didn't win lot #182 did you?

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Posted By: Evan

I used to bid sometimes with American Memorabilia. I had bought a b&w hall of fame plaque postcard and the next morning received an invoice for three cards, the other two being cards I had bid on but were not even the last underbidder for. When I called I was told by Miss K that the buyer was not going to honor the bids. When I thought about it, it became obvious that the bids were "questionable" (shilled). I called two fellow collectors and wonder of wonders they had the same situation. I offered to buy the cards for 75 cents on the dollar and picked up one of them. My friend purchased one the same way. Neeedless to say I am not bidding with them anymore. In 8 years and over 1000 auction purchases this was the only time I was contacted as a underbidder

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Posted By: Anonymous

Evan - Not surprising about the AMI sleaziness... thanks for sharing that. Check out the recent thread on them here (if you haven't already seen it). A good outfit to avoid...

Brock - Please check your email... I just wrote you a letter, too long for this post. Thanks!