Quote:
Originally Posted by Aquarian Sports Cards
As an auctioneer I think "top all bids" is an horrific idea. For the reasons you mentioned, but also for the simple fact that an auction is supposed to be about determining the market through open competition. It's the same reason I'm not a fan of reserves, or even worse of auctions retaining the right to put "bad faith" bids in to lift items to just below a reserve and a number of other practices that seek to remove all risk from the auction process. If you want to remove the risk of an auction and have only the reward, you don't really want to run an auction.
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I hear you, and couldn't agree more. Still very surprised if Nic is correct and some AH actually still does that today.