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<p>[QUOTE="Nap, post: 4516664, member: 73099"]There's a sweet spot between placing the opening bid at a reasonable level and one that is too extreme in either direction. </p><p>If it's too high then there will inevitably be passed lots. I think too many passed lots makes an auction look bad, either that you don't have adequate marketing to the right clientele or that the prices are unrealistic. Plus if a lot doesn't sell it's bad for the consigner and the auctioneer.</p><p>On the other hand, when bids are too low, the auction can take forever.</p><p>One frustrating auction I watched had opening bids below an unannounced reserve. The opening bids were very close to retail. Most lots passed. I had to root for another bidder to bid against me so that I could bump up the price high enough to actually win the thing![/QUOTE]</p><p><br /></p>
[QUOTE="Nap, post: 4516664, member: 73099"]There's a sweet spot between placing the opening bid at a reasonable level and one that is too extreme in either direction. If it's too high then there will inevitably be passed lots. I think too many passed lots makes an auction look bad, either that you don't have adequate marketing to the right clientele or that the prices are unrealistic. Plus if a lot doesn't sell it's bad for the consigner and the auctioneer. On the other hand, when bids are too low, the auction can take forever. One frustrating auction I watched had opening bids below an unannounced reserve. The opening bids were very close to retail. Most lots passed. I had to root for another bidder to bid against me so that I could bump up the price high enough to actually win the thing![/QUOTE]
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