How do reserves work in the Legendary auction?

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#24

06-11-2010, 09:28 AM

calvindog

Jeffrey Lichtman

Member

Join Date: Apr 2009

Posts: 5,889

Quote:

Originally Posted by Exhibitman

I disagree. The hammer price in an auction is a reflection of what the bidders in that particular auction were willing to bid at that time.

What if the hammer price reflects the maximum of what the top bidder was willing to bid instead of just ahead of what the second bidder's top bid was? Then you get legendary prices.

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