[oldjudge]

I agree with Robert. If you don't check references what is the point of asking for them? If auction houses don't vet their bidders they are inviting trouble which, unfortunately, will impact the consignors more than them.
The auction house should do what Steve Verkman used to do--publish the names of any reneging bidders at the start of the next catalog. I always thought that was very smart.
Leon--LOL, hoping is not a trading strategy.