This is the problem with grading...

[vintagetoppsguy]

Originally Posted by Peter_Spaeth

David I don't see the difference.

You don't?

Originally Posted by Peter_Spaeth

Of course, IF it's an absolute auction you could win it for less without the shill.

I think you just explained the difference.

[Peter_Spaeth]

Originally Posted by vintagetoppsguy

You don't?



I think you just explained the difference.

I was not comparing an absolute auction to a reserve auction, only pointing out that the effect of the "shill" is simply to convert it to a reserve auction.

[HRBAKER]

Peter,
I can see your point and I guess there is really no difference if you are willing to accept and operate under the principle that there may always be factors at work, market driven and otherwise that will ensure that nothing sells under a certain price. IOW all auctions are really reserve price auctions even though they may be dressed up as something else.