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#11
08-19-2012, 06:21 PM
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Peter,
Functionally what you say is right. My question would be why not just start the bidding at the lowest acceptable amount or install a reserve? My assumption is that the somewhere someone has determined that starting at a lower opener and creating the perception of an absolute/real auction (illusory or not) would result in more action and a higher result. If you have a "shill" then this is not what you end up with, an absolute auction that is.
__________________
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