Guess The Hammer Price 1952 Mantle

[MattyC]

Don't assume the card "sold" the first time around.

[irv]

Originally Posted by MattyC

Don't assume the card "sold" the first time around.

True. I learned that with the $80,000 Koufax and the $150,000 Rose.

Still don't know how it all works or what is all involved with this, but it definitely creates confusion.

[1952boyntoncollector]

Originally Posted by irv

True. I learned that with the $80,000 Koufax and the $150,000 Rose.

Still don't know how it all works or what is all involved with this, but it definitely creates confusion.

Right after the auction they always say 'sold' or something to the effect of the final sales price even though never got payment yet....i would think it would not look good to an AH to announce that a winning bidder on a 200k card did not pay because in future auctions people may not be willing to offer highest dollar when there are some bidders that are competing with dont actually pay..

[irv]

Originally Posted by 1952boyntoncollector

Right after the auction they always say 'sold' or something to the effect of the final sales price even though never got payment yet....i would think it would not look good to an AH to announce that a winning bidder on a 200k card did not pay because in future auctions people may not be willing to offer highest dollar when there are some bidders that are competing with dont actually pay..

So what happens to those who bid/win but don't pay?

I would also assume, after some time has passed, that the A/H corrects the sold price to that of what the underbidder bid?

Just thinking? What would happen, with the unbidder thinking he didn't win, all of a sudden being told he told? Is he now obligated to purchase the card? What if he spent his money elsewhere before he found out? What happens in that case?

[1952boyntoncollector]

Originally Posted by irv

So what happens to those who bid/win but don't pay?

I would also assume, after some time has passed, that the A/H corrects the sold price to that of what the underbidder bid?

Just thinking? What would happen, with the unbidder thinking he didn't win, all of a sudden being told he told? Is he now obligated to purchase the card? What if he spent his money elsewhere before he found out? What happens in that case?

I assuming the underbidder has the option to buy the card. I also assuming they dont update the sale price...people can correct me on here if my assumptions are not correct

I know some auction houses list names of people who didnt pay though, i guess theres a court option as well but probably rarely used.

[irv]

Originally Posted by 1952boyntoncollector

I assuming the underbidder has the option to buy the card. I also assuming they dont update the sale price...people can correct me on here if my assumptions are not correct

I know some auction houses list names of people who didnt pay though, i guess theres a court option as well but probably rarely used.

I would think they would have too or that would be a falsehood and deceptive, would it not?

As far as the underbidder goes, that happened to me with an E-Bay purchase. I was outbid only to be told later the top bidder retracted his bid and now I was the top bidder.
I seen no place where it was an option if I still wanted the card, only that I was the top bidder and if I no longer wanted it, (had moved on etc), my only option was to retract my own bid.

I purchased it as I did still want it but I always wondered about that if I no longer did?

[irv]

Originally Posted by irv

I would think they would have too or that would be a falsehood and deceptive, would it not?

As far as the underbidder goes, that happened to me with an E-Bay purchase. I was outbid only to be told later the top bidder retracted his bid and now I was the top bidder.
I seen no place where it was an option if I still wanted the card, only that I was the top bidder and if I no longer wanted it, my only option was to retract my own bid.

I purchased it as I did still want it but I always wondered about that if I no longer did?

Does anyone know the answer to this?

Is it a recorded mark/flag against you if you had moved on/spent your money elsewhere when you were originally outbid?