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#11
10-06-2010, 08:11 PM
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Is the conventional wisdom and the borne out experience of auctioneers regardless of field that starting an item with an opening bid of the lowest acceptable amount for a lot as oppposed to a low opener with a hidden reserve stifling to participation and routinely results in lower amounts realized for lots?
That would be interesting to know if it was possible to draw a hard conclusion. I am assuming it would have something to do with the psychology of the bidding/have to win process. Sorry for the wordy question.
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