Scott you are wrong, here's the cliffnotes version.
"In an absolute auction, the seller has agreed to sell for the highest bid, regardless of the amount offered. The role of the auctioneer is to ratify the contract formed between the buyer and the seller. ... Bids above the reserve are binding, with the high bid ratified by the auctioneer when he declares the item sold."
__________________
Four phrases I have coined that sum up today's hobby:
No consequences.
Stuff trumps all.
The flip is the commoodity.
Animal Farm grading.
|