Heritage Auctions - Boston Garters

[Snowman]

[QUOTE=mordecaibrown;2378408]

Originally Posted by Snowman

Bidding on the set only gives you the opportunity to win the set for less than you might otherwise have to pay were you to bid on all lots,

Explain to me how this is true? I must not be understanding something.

The set price cannot win if it’s less than aggregate of individual lots, so how could you win the set lot at a price lower than you’d could win the summation of each individual lot?

Based on how this auction was run, I have no idea on the purpose of the set lot ever being offered. What was the purpose?

If you can successfully shut out the bidders on the individual side by not bidding against them, and them not otherwise having enough action to overtake the full set bid, then you can win it for less if your full set high bid amount is less than the sum of the individual lots plus whatever it would take for you to take the high bid on each of those lots. This is why you only bid on one side at a time, and why you only switch sides when forced to by the other bidders.