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Mound City Auctions

Started by TheMightyJohn,

449 posts in this topic

Kreton

Kreton

Posted
Posted
I still don't understand how an employee of yours, or a part owner, can bid and subsequently have that bid cancelled. :gossip: Perhaps it is legal. Please explain, though. (shrug)

 

If you watch the video I think it is clear how we did the auction of this item. I have my wife write down the bid (I do not know who bid or how much they bid) she bids the reserve for them. In this case (I think it was like $5,700 but we are out at a party and I am sitting in the truck and I have had several glasses of wine so I just do not know). My wife bids for the seller (remember they can reject any and all bids, so if the number does not hit their reserve it is not going to sell in any case). I explain to the online and in person bidders that she is bidding the reserve for the owner and that if we do not hit it I will ask the owner if he will accept the last offer. We did not hit his number, he agreed to accept the last offer, I said sold.

 

Is it common in your state to advance the bid on behalf of the owner/seller? Aside from the OP, were there any other bidders advancing the bid?

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VintageComics

VintageComics

Posted
Posted
I still don't understand how an employee of yours, or a part owner, can bid and subsequently have that bid cancelled. :gossip: Perhaps it is legal. Please explain, though. (shrug)

 

If you watch the video I think it is clear how we did the auction of this item. I have my wife write down the bid (I do not know who bid or how much they bid) she bids the reserve for them. In this case (I think it was like $5,700 but we are out at a party and I am sitting in the truck and I have had several glasses of wine so I just do not know). My wife bids for the seller (remember they can reject any and all bids, so if the number does not hit their reserve it is not going to sell in any case). I explain to the online and in person bidders that she is bidding the reserve for the owner and that if we do not hit it I will ask the owner if he will accept the last offer. We did not hit his number, he agreed to accept the last offer, I said sold.

 

Rob, I believe that the confusion came from bidders who were not present live and that did not have the same information/explanation as the live bidders.

 

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arexcrooke

arexcrooke

Posted
Posted

Or the confusion could be from why the owners wife is allowed to bid at all. :shrug:

If she is bidding, or anyone else associated with the auction, up to the reserve and then back out, then that, whether legal or not, is in my humble opinion, dirty pool.

 

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VintageComics

VintageComics

Posted
Posted
Or the confusion could be from why the owners wife is allowed to bid at all. :shrug:

If she is bidding, or anyone else associated with the auction, up to the reserve and then back out, then that, whether legal or not, is in my humble opinion, dirty pool.

 

Arex, did you watch the youtube video?

 

They explain in detail to all live bidders what they are doing and why they are doing it.

 

 

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bluechip

bluechip

Posted
Posted
I still don't understand how an employee of yours, or a part owner, can bid and subsequently have that bid cancelled. :gossip: Perhaps it is legal. Please explain, though. (shrug)

 

If you watch the video I think it is clear how we did the auction of this item. I have my wife write down the bid (I do not know who bid or how much they bid) she bids the reserve for them. In this case (I think it was like $5,700 but we are out at a party and I am sitting in the truck and I have had several glasses of wine so I just do not know). My wife bids for the seller (remember they can reject any and all bids, so if the number does not hit their reserve it is not going to sell in any case). I explain to the online and in person bidders that she is bidding the reserve for the owner and that if we do not hit it I will ask the owner if he will accept the last offer. We did not hit his number, he agreed to accept the last offer, I said sold.

 

Rob, I believe that the confusion came from bidders who were not present live and that did not have the same information/explanation as the live bidders.

 

He keeps describing this as if my bid was the last bid, and the seller thought about it and decided to accept the bid.

 

(and even in that case, with a reserve in place, I am used to auction houses making sure that both seller and bidder agree that the previous bid will now meet the reserve.)

 

But's not what happened.

 

The seller advanced one bid further, trying to get me to bid higher,. And then, only after seeing that no further bids were coming, withdrew his last bid. (and none of the others before it)

 

Anyone can see that this raises the question of what the "real" reserve was (whether it would have gone for less if I'd stopped sooner) and whether the seller was able to bid with impunity to make sure he could stretch other bidders to the maximum, without any worry of losing the sale.

 

 

 

 

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arexcrooke

arexcrooke

Posted
Posted
Or the confusion could be from why the owners wife is allowed to bid at all. :shrug:

If she is bidding, or anyone else associated with the auction, up to the reserve and then back out, then that, whether legal or not, is in my humble opinion, dirty pool.

 

Arex, did you watch the youtube video?

 

They explain in detail to all live bidders what they are doing and why they are doing it.

 

Again, Ill hold to my previous post.

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mrmyst

mrmyst

Posted
Posted
I still don't understand how an employee of yours, or a part owner, can bid and subsequently have that bid cancelled. :gossip: Perhaps it is legal. Please explain, though. (shrug)

 

If you watch the video I think it is clear how we did the auction of this item. I have my wife write down the bid (I do not know who bid or how much they bid) she bids the reserve for them. In this case (I think it was like $5,700 but we are out at a party and I am sitting in the truck and I have had several glasses of wine so I just do not know). My wife bids for the seller (remember they can reject any and all bids, so if the number does not hit their reserve it is not going to sell in any case). I explain to the online and in person bidders that she is bidding the reserve for the owner and that if we do not hit it I will ask the owner if he will accept the last offer. We did not hit his number, he agreed to accept the last offer, I said sold.

 

Rob, I believe that the confusion came from bidders who were not present live and that did not have the same information/explanation as the live bidders.

 

He keeps describing this as if my bid was the last bid, and the seller thought about it and decided to accept the bid.

 

(and even in that case, with a reserve in place, I am used to auction houses making sure that both seller and bidder agree that the previous bid will now meet the reserve.)

 

But's not what happened.

 

The seller advanced one bid further, trying to get me to bid higher,. And then, only after seeing that no further bids were coming, withdrew his last bid. (and none of the others before it)

 

Anyone can see that this raises the question of what the "real" reserve was (whether it would have gone for less if I'd stopped sooner) and whether the seller was able to bid with impunity to make sure he could stretch other bidders to the maximum, without any worry of losing the sale.

 

 

 

Why is this so hard for them/any apologists to explain?
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LetThereBeComics-migration

LetThereBeComics-migration

Posted
Posted
I explain to the online and in person bidders that she is bidding the reserve for the owner and that if we do not hit it I will ask the owner if he will accept the last offer. We did not hit his number, he agreed to accept the last offer, I said sold.

 

If that were the case I don't think we'd be having this thread.

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THE_BEYONDER

THE_BEYONDER

Posted
Posted
OK, I get it, some of you will never sell with us, some of you will never bid on our auctions. For the rest of you we have an online only auction that ends in 12 minutes or so.

 

http://bit.ly/17808Rv

 

It is against Forum rules to pimp ones auctions in Comics General.

 

 

Moderators Notified :sumo:

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Flaming_Telepath

Flaming_Telepath

Posted
Posted
The seller advanced one bid further, trying to get me to bid higher,. And then, only after seeing that no further bids were coming, withdrew his last bid. (and none of the others before it)

 

This is the crux of the matter.

 

This wasn't an effort to set a reserve, but rather an attempt to squeeze every drop out of the real bidder.

 

It might be legal, but any company who thinks this might be right...well, I'd be wary of every business decision they made. :facepalm:

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arexcrooke

arexcrooke

Posted
Posted
The seller advanced one bid further, trying to get me to bid higher,. And then, only after seeing that no further bids were coming, withdrew his last bid. (and none of the others before it)

 

This is the crux of the matter.

 

This wasn't an effort to set a reserve, but rather an attempt to squeeze every drop out of the real bidder.

 

It might be legal, but any company who thinks this might be right...well, I'd be wary of every business decision they made. :facepalm:

:thumbsup:

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