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Handling of Written Bids at Major Auction Houses
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<p>[QUOTE="Fairy, post: 2310061, member: 76803"]Well, let us assume that I submit a written bid of $4000 while the opening bid is $2000. Who can guarantee that the auction house omits to place an additional bid of for instance $3999? That would be easy for them and would facilitate a hammer price of $4000, which I was willing to pay.</p><p><br /></p><p>Does anybody know whether or not New York auction houses accept reserve prices of the consignors?[/QUOTE]</p><p><br /></p>
[QUOTE="Fairy, post: 2310061, member: 76803"]Well, let us assume that I submit a written bid of $4000 while the opening bid is $2000. Who can guarantee that the auction house omits to place an additional bid of for instance $3999? That would be easy for them and would facilitate a hammer price of $4000, which I was willing to pay. Does anybody know whether or not New York auction houses accept reserve prices of the consignors?[/QUOTE]
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