They are extending to fish for buyers to then negotiate the best price. There is no way they can expect 30-36 million on that contract in one open auction. So they are going to fish for serious bidders by setting several spotlight auctions (fake by putting an unreasonable hidden bid to fish out what people will pay for this)..... then they will gather those bidders and hold a private one-on-one negotiation on their own terms to weed out the highest bidder. Its brilliant, finds out what the highest bidder in the market is with giving the owner the option to sell or not. Its a premeditated process to seek price discovery. Brilliant market making on a unique item!
Last edited by joshuanip; 03-03-2018 at 11:20 AM.
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