Bidding Terminology

I would like to agree but there was a particular item I bid on that sold by a floor bidder one bid over my max. The same item showed up several auctions later and the exact same thing happened. Like clockwork, it showed up again a few auctions later and the exact same thing happened. I guess if the auction house owned the item in the first place they didn't have to pay any consignment fees. But I guess this is their way of placing a reserve price on an item.

 

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