Claude did not make any sort of statement about the reserves being high or low.
In fact, his statement was pretty much the opposite he will not chase
reserves, thus he will not bid on a poster unless the reserve is already met.
He is not asking for things to be given away, simply asking to not waste his
time by putting in bids that have no chance of actually purchasing the poster.
People love to trot out Heritage and bring up the old everybody does it
argument, but there are two important distinctions:
1) Heritage lists all their signature auction items with an estimate and
no reserve is above the low estimate
2) Seven days before the close of the auction they reveal what the reserve
price is on all their pieces.
I dont think any of the MPB or eBay sellers currently do either of the above
two things.
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