Quote:
Originally Posted by botn
I must have missed or glossed over any posts that suggested that Al was not operating with complete integrity. I would be interested to know how Al knows that the spirited bidding that took place in the wee hours of the AM would have cost his consignors had he picked a different closing method?
If those bidding spirited bidders were faced with a absolute closing and they knew they had one shot to be the top bid, one would think they would toss max bids in there in the closing seconds. I think most bidders know what they are willing to go to well before the close of an auction and my guess is that number does not change often in the wee hours.
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+1
Exactly what I wanted to say, but Greg, Todd, and others beat me to it. Those heavy bids are placed in the wee hours because those heavy bidders aren't compelled to bid early. If they were told the auction would be closing at midnight, every last one of those bids would still be executed, only earlier.
And I too support Al and think he is doing an amazing job. When he started his business five years ago, he asked me about my experiences as an auctioneer, and I told him the single hardest thing to do is get good consignments. He has outdone anything I could have imagined for him. He is a champ!