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Posted By: JimB

If meeting the reserve is the issue, why not eliminate book bidding and if the bidding stops short of the reserve, tell the high bidder what the reserve is at that point and ask if s/he wants to meet that reserve. If not, it goes unsold. It seems like a more straightforward way of doing it considering some bidders consider the activity of other bidders into their considerations of the value of an item.
JimB