[Archive]

Posted By: Mark

Great for consignors / Bad for bidders was simply a factual statement... not a judgement of what was right or wrong. If they are truly having technical issues, the decision to delay the Auction's close was the right one for Mastro and it's consignors.

I just wonder if the lackluster bidding (up until 2 days of the auction's close) came into play. This auction was not exactly setting the world on fire, as of Mastro's "decision time". Many lots that I'm watching are still sitting at about 1/3 of their worth. I can easily envision a board meeting in which they discussed this matter in depth, and decided to extend the auction (with the significant side benefit of garnering more bids and realizing higher prices).

It would be naive to assume that this factor was not thoroughly considered. I'm not passing judgement, as I would likely do the same if it were my business, and I had to answer to multiple consignors.