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#16
08-27-2006, 11:36 AM
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Lelands still using the "old" auction format
Posted By: barrysloate
I agree completely that bidders are afraid of being taken advantage of when they leave ceilings, but I am willing to bet that the bidder who is reluctant to leave a $1000 ceiling bidder early in the evening finds himself up at 3:00 bidding more than that $1000. And if five people stay up all night to be the last bidder on a lot, guess what- four of them won't be. They are going to get topped anyway. So they have lost a night's sleep without reaching their objective. Believe me, I've been on both sides of an auction and understand what people are saying. It's just that it doesn't always make that much sense. 
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