Posted By:
barrysloateFirst off, thanks to Jay not only for the kind words about my auction but also for remembering Buffalo Springfield and the lyrics to "For What It's Worth". They were one of the sixties greatest bands, morphing into Crosby,Stills, Nash,and Young who were also very good but not quite as good.
As an auctioneer I find some of this discussion funny. First off, let's take Mastronet. They run auctions in excess of $10 million, have a thousand things to consider on auction night, and some guy who leaves a ceiling bid of say $1000 thinks they have nothing better to do than run up his lot so that they can pocket an extra $20. Believe me, they don't even have the time or interest to do such a thing. I have won many lots in many auction houses for below my ceilings; likewise, there are many out there who have bid in my own auctions who have won lots an increment less and at times multiple increments less than their ceiling. And likewise, if you leave a ceiling bid, sometimes it will go there and you should be happier to win the lot than to lose it to someone else. I just won three lots in the Hunt auction for my ceiling (and one for less) and I thanked them for the process. If you're afraid of the ceiling bid, stay up until four in the morning and guard your bid zealously. If you're like me, I'd rather get a good night sleep. Leave a ceiling and just be happy if you win the lot.