Heritage Auction

[sago]

There is always the chance for impropriety if employees can bid, consign, etc. for the auction house where they work.

If it's that important or necessary for employees to consign an item, or for Heritage to both buy and broker the sale of items, then have a separate section in your catalog for those lots. Since it's such a simple concept that most people already understand, I'm sure the employee and Heritage lots would do just as well.

From HA.com
21. The Auctioneer, its affiliates, or their employees consign items to be sold in the Auction, and may bid on those lots or any other lots. Auctioneer or affiliates expressly reserve the right to modify any such bids at any time prior to the hammer based upon data made known to the Auctioneer or
its affiliates. The Auctioneer may extend advances, guarantees, or loans to certain consignors.

22. The Auctioneer has the right to sell certain unsold items after the close of the Auction. Such lots shall be considered sold during the Auction and all these Terms and Conditions shall apply to such sales including but not limited to the Buyer’s Premium, return rights, and disclaimers.

My question on HA 21: Heritage employees and the house itself are allowed to bid on the same lots they consign. Perhaps a clarification such as "up to and including the pre-determined reserve amount" would help eliminate some shill bidding questions, and possibilities.

My question on HA 22. "Such lots shall be considered sold during the Auction": Is this the Heritage equivalent of a lot being "passed"? If so, is the final price indicated in the HA archives as sold, thereby skewing the sales results for the item?

I'm not sure if these questions will get answered, but here they are.

David Davis