Quote:
Originally Posted by BobC
What would most likely happen today is that someone that had such a "special deal" in the past, like it is alleged that Copeland may have had with Rosen, would be required to put in outrageous max bids as opposed to being able to put in a "Tops All Bids" bid. And we both know, if people knew or thought there was someone out there doing that, there are those that would then purposely run up the max bidder as high as they could. Just for fun! And then we'll see how far the auctioneer and his friend's friendship really goes should the "special friend" suddenly then decide to say, "I'm not paying that much for that!"
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Bob: There's at least one auction house today that will accept "TOP ALL BIDS" bids, and there could be more.
I've never attempted it, but I've always been intrigued by the concept. Like you posited, part of the challenge would be the potential for someone to keep bidding it up to the point where even those of us who are willing to pay outrageous prices would finally decide it just isn't worth it.
Proof:
https://memorylaneinc.com/site/terms.pdf
Scroll down about halfway down the first page, to where they have a quick sentence about the Top All Bids feature.