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Old 06-06-2007, 02:54 PM
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Default Live From Sothebys

Posted By: DD

I have been to many live auctions over the past 30 years. I also used to work for an auction house. I believe I have seen shill bidders in the audience at some auctions, and also know auctioneers that have driven up the price themselves if they have a feeling that the 2 or more bidders will go higher; sometimes they end up buying the item if the audience drops out.

Just start the item at the reserve price. If people are scared off by that, then tell the consignors to lower the reserve. The material that Sotheby's and other large houses auction off attract many big spenders. It is unlikely that they won't bid at a higher starting price, as opposed to a lower price with a hidden reserve.

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