Why would Powell bid on every lot??? The entire point of having the cards offered as a set is so a bidder, who wanted the entire set of cards, didn’t have to do that exact thing!!!! Otherwise, the cards would’ve never been offered as a set! Furthermore, it was designed to maximize the consignor profit.
How this unfolded was not the design or intention of the auction. The manner this was conducted made the set bidding pointless because Powell could not make competing bids and did not maximize profit for the consignor.
Also, just my opinion, I think the cards sold for about the max they would have, give or take. Powell may have been willing to go much higher, I have no idea, but considering he had no other competition in the set auction and, at the time the set lot closed it was slightly ahead of the aggregate and then only a few more bids were placed to push the individual lots over the set lot, it doesn’t seem like there was a lot of runway left in this situation. And, if you assume an auction house’s number one priority is the consignor (and it’s own bottom line) then if an auction house thought there was a lot of room for increased profit on restarting an auction - it would! Risk/reward….
Lastly, I always see, stuff trumps all. Which, often is the case for many people situations - to each their own. However, I’ll say this, if you don’t like how any auction house treats people or situations, don’t consign material to them. Without selling YOUR stuff, an auction house has nothing to sell. And there are many different auction houses at different levels specializing in different material - options are plentiful.
Andr.ew Ken.edy
Last edited by Leon; 10-03-2023 at 05:56 PM.
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10-03-2023, 05:13 PM
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