[Archive]

Posted By: Judge Dred

Tim,

You are not obligated to purchase this lot. If you were outbid then your responsibility of paying for it ended when you were outbid and the auction was closed.

A lot of times the auction house will offer the item to you at the minimum bid price without any juice. Or it will be offered at your highest bid amount after bumps were taken into consideration. Since you and the other bidder were the only two people to compete for the lot then it would only go to reason that it would be offered to you at the minimum bid and NO JUICE.

By the way, which auction house has done this? I'm pretty sure that all contributors to this thread will probably agree with this.

I seriously doubt that there are provisions in any auction house rules that stipulate that the under bidder would be responsible for his bid if the high bidder were to renege on their obligation.