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#17
07-05-2009, 07:41 PM
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As Jay and or Corey already pointed out, the willingness to extend credit probably resulted historically in making huge sums FOR consignors, as otherwise numerous bids would not have been placed. In hindsight it is easy to point the finger, but one has to assess the wisdom and propriety of a practice contemporaneously.
Now if as has been alleged there was shill bidding, that is a horse of another color. 
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