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#25
10-29-2004, 05:54 PM
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Steve Verkman auction policies
Posted By: warshawlaw
OK, I get the idea with mastro, etc., when I end up bidding $110 on a $100 lot, then $121, etc. But in this case $230 is the bid after $206 with a 10% raise rule? How is that the case? 110% of 206 is $226.60, not $230. How does it get to $230? Then it would go $230 to $253, but then 110% of $253 is $278.30, not $283. How does it get there? Argh...help me to understand. Hey, you know us lawyers; all we can do is divide by 3 anyhow 
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