Interesting reading,out of the book "The Card"
Out of the book "The Card",written by Michael O'Keeffe and Teri Thompson,page 180-181,regarding Robert Edward Auctions...........
Under the heading "No Conflicts of Interest" on his website,Lifson has delineated the ills of the industry,from auction houses that bid on material in their own auctions,to shill bidding,to selling their own wares at their auctions.
We are not dealers.Robert Edward Auctions will never place a bid on material in our own auction.Robert Edward Auctions will never purchase material outright to offer at auction.With Robert Edward Auctions,bidders are guaranteed that they never have to worry about the auction house bidding against them on any lot in the auction-EVER.With Robert Edward Auctions,bidders also never have to worry about secret hidden reserves-EVER.
You will never see a "Wanted to Buy" ad placed by Robert Edward Auctions....These firm policies translate directly into greater and well deserved bidder confidence,and in turn higher prices for consignors.Many auctions are run by dealers offering material they own.This common practice exposes consignors and bidders to numerous conflicts-conflicts which can and do cost bidders and consignors money,and can ultimately make bidders uncomfortable even participating in the auction.
These are conflicts that DO NOT EXIST with Robert Edward Auctions.
Under no circumstances does Robert Edward Auctions,LLC allow for a "house account" to bid on lots in the auction.Under no circumstances are executives or employees of Robert Edward Auctions,LLC permitted to place bids in the auction.Under no circumstances are consignors permitted to bid on their own lots.This is a consignment auction,conducted by Robert Edward Auctions,LLC on behalf of consignors.
Under no circumstance is material offered at auction by Robert Edward Auctions,LLC owned in part or whole by Robert Edward Auctions,LLC....Everyone likes an honest auction.
I thought this was interesting.I have no affiliation with them(REA),or with any auction house,for the record.
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01-31-2010, 11:22 AM
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