Quote:
Originally Posted by Casey2296
Then why even have a set option? Michael pointed out how easy it is to run both fairly in an auction in a previous post, it makes no sense how one of the biggest AH would screw it up so badly with their format.
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Because the Heritage rep was operating under the false assumption that it would yield the maximum amount for the consigner, which would only be true if the bidding pool for both sides consisted of truly independent buyers. But they're not. Every set bidder would have bid on all individual lots had the set lot not been an option. It was an error on their part, and they likely still don't even know it. And they also probably still believe it netted the seller the most money, and they'll probably do it again next time.
10-04-2023, 11:21 PM
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