Quote:
Originally Posted by ullmandds
My impression is that most auction houses list a lower than expected estimate so that when the realized price blows away the estimates...they can boast that their auctions beat their estimates by such and such a %.
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That does seem to be the case more often than not, but how does that make them look good when they're the ones making the inaccurate estimates in the first place? And how does that make buyers feel, now that they have paid more than the "experts" predicted the item would go for? How can that not have at least some depressing effect on the bidding when it's close to or past the high end of the estimate and bidders are trying to decide whether they should go another bid or not? I'm still struggling to understand the benefits of this common practice.
10-26-2011, 12:31 PM
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