Any Reaction to Legendary Auction Prices

[Kotton King]

Rather then set a hidden reserve, why not just start the auction at that price? I realize that it might discourage bidders from bidding if the initial price is sky high, but they'll probably loose bidders because of this use of a hidden reserve (unknown until now), because they didn't disclose it.

As for auctions they own:

"the following lots are owned by the auction house, an auction house employee, or a related party of the auction house: 154, 355, 358, 362, 421, 563, 587, 774, 775, 776, 777, 780, 782, 783, 800, 804, 837, 898, 924, 928, 929, 930, 931, 932, 934, 935, 937, 939, 939, 941, 946, 950, 958, 959, 960, 961, 971, 972, 973, 976, 987, 989, 994, 995, 997, 998."
-taken directly from their Rules/FAQ section

[Matt]

Originally Posted by Kotton King

Rather then set a hidden reserve, why not just start the auction at that price? I realize that it might discourage bidders from bidding if the initial price is sky high, but they'll probably loose bidders because of this use of a hidden reserve (unknown until now), because they didn't disclose it.

This is actually appears to be a "double hidden reserve": Not only was the amount of the reserve hidden (which is the traditional meaning of "hidden reserve") but the fact that there was a reserve at all also seems to have been hidden.

[calvindog]

Originally Posted by Matt

This is actually appears to be a "double hidden reserve": Not only was the amount of the reserve hidden (which is the traditional meaning of "hidden reserve") but the fact that there was a reserve at all also seems to have been hidden.

Um, you may want to change that to triple hidden reserve then; you forgot one.

[Exhibitman]

Originally Posted by Matt

This is actually appears to be a "double hidden reserve": Not only was the amount of the reserve hidden (which is the traditional meaning of "hidden reserve") but the fact that there was a reserve at all also seems to have been hidden.

Greg Marmalard: But Delta's already on probation.
Dean Vernon Wormer: They are? Well, as of this moment, they're on DOUBLE SECRET PROBATION!

[Kotton King]

Originally Posted by Matt

This is actually appears to be a "double hidden reserve": Not only was the amount of the reserve hidden (which is the traditional meaning of "hidden reserve") but the fact that there was a reserve at all also seems to have been hidden.

Haha...nice Matt! It definitely makes sense, even though I had to read it about 4 times for it to make sense.

[barrysloate]

I'm still trying to figure out why in two days of bidding, being outbid, and coming back to bid again, I never received a single email from Legendary. Did anyone receive their bid confirmation and outbid notices?

[Kotton King]

Originally Posted by barrysloate

I'm still trying to figure out why in two days of bidding, being outbid, and coming back to bid again, I never received a single email from Legendary. Did anyone receive their bid confirmation and outbid notices?

Hi Barry....I received each and every "high bid" notice and "outbid" notice, when I was bidding over the two days.

[kkkkandp]

I got nothing.

[barrysloate]

Interesting- some people got them, others didn't. Can any computer whizzes- calling Matt- explain this?