I've seen that sort of thing happen a lot before...
Sometimes it looks shady (and maybe it is). But, other times it just means
that there were 2 (or more) absentee bidders. For instance, one absentee
bidder bid $2,400, the other bid $3,000 - so the auctioneer immediately
jumps to $2,500, then starts taking floor bids (that get immediately outbid
by the second absentee bidder)...
Cheers,
Bob
----- Original Message -----
From: "David Kusumoto" <[EMAIL PROTECTED]>
To: <[email protected]>
Sent: Monday, December 05, 2005 9:59 PM
Subject: [MOPO] Bonham's - Absentee Bidders Treated Unfairly?
Hello all --
Just one thing bothered me. If you were there, maybe you can explain.
** For some posters, bidding JUMPED immediately (w/no declared bidding
increments in between) -- to the HIGHEST level established by an absentee
bidder. Not all the time, but it happened.
** For example, I was a phone bidder for the "Brief Encounter" British
one-sheet. Bidding opened at $500. Then out-of-the-blue -- I heard a
Bonham's employee declare, "we have an absentee bid of $2500!" The
bidding
then JUMPED from $500 immediately to $2500 -- with NO bidding increments
accepted "in between" -- from either the floor or from the phones.
** The poster hammered for $3,000 (or about $3,800 if you include the
17.5%
buyer's premium -- and another 8.25% sales tax for in-state buyers -- a
whopping 25.75% gouge).
** I don't understand the criteria for what seems an unfair practice --
NOT
to me as a phone bidder -- but to the absentee bidder! If bidding OPENS
at
YOUR "faxed-in-advance" bid -- haven't you just lost your shot to get a
poster for "possibly" less? I planned to "drop out" at $1500. I didn't
get
the chance, nor did the absentee bidder get the opportunity, to see
bidding
advance in increments well past $1500 until it finally ended at $3,000.
** If I had faxed in a $6,000 absentee bid -- and a Bonham's employee
declared, "we have an absentee bid of $6,000!" -- I would've been pi**ed
to
learn my shot to get "Brief Encounter" for $3,000 or $4,000 or even
$5,000 -
went out the window. The auctioneer, in some cases, established opening
bids well ABOVE $500, accepting the absentee bidder's high bid, DECLINING
lower bids from the floor and the phones.
** Until I learn the "criteria" for this practice -- I'll NEVER submit
absentee bids by fax to Bonham's (or to any auction house) in the future.
If I want something and can't be present, I'll phone bid like I did today.
Again, perhaps there's a simple answer. It didn't happen to all lots.
"Suez" opened at $500 before Sue Heim got it for $5500 (hooray Sue!). But
before it hammered, she and others were bidding against an absentee
bidder.
** There was ONE consignor for this sale. (Louis Leithold's estate.) All
the more reason I don't understand the "opening bid" inconsistency from
lot-to-lot. On the surface, this has "anti-consumer" written all over it.
And if takes more than 5-min. to explain, I probably still wouldn't get
it.
** Look, if I'm a consignor, it's in my best interest to promote this
practice, but you know, consignors are buyers too. And I demand
consistency
from licensed auctioneers.
-koose.
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