Heritage Auctions Lawsuit - Net54baseball.com Forums

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#14

09-13-2009, 05:16 PM

barrysloate barrysloate is offline

Barry Sloate

Member

Join Date: Apr 2009

Location: Brooklyn, NY

Posts: 8,297

Peter- the auction house needs to be in control of a reserve bid; if the consignor asks for minimum $1000, then the house bids up to $1000 only.

If you let consignors bid on their own lots the auction house loses control of the sale. I might consider having reserves in certain situations, but I would never allow my consignors to do whatever they want.

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