Quote:
Originally Posted by Aquarian Sports Cards
It is my feeling that an item should always sell for one bid more than the second most interested party is willing to pay. I find anything that interferes with that anathema to the auction process.
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This to me is the classic definition of market value, and I wholeheartedly agree that a realized price reflecting only one bid above a house bid or reserve price is not indicative of true market value. When the realized hammer price is the stated reserve (
i.e., the item actually sells), at least in that instance the market has been put on notice what has taken place. That stands in contrast to a bid above a hidden reserve, which, even though stated in the rules as allowed to take place, is more deceptive.