Hidden reserves disguised as phantom bidding

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05-10-2011, 02:36 PM

ruth-gehrig ruth-gehrig is offline

Mich@el K. Tr0tnic

Member

Join Date: Jan 2011

Location: Oklahoma

Posts: 2,222

Yeah I don't like anything about hidden reserves. Yes at least they up front about it but still...
Hidden reserves encourage more bidder participation which the auction house(s) love because it encourages bidding wars even if it is against a pre-determined amount set in by a mystery person. For some people their egos get the best of them and they end up bidding it up just "a little" higher.

The part where Hunt allows themselves to reject any and all bids as they deem necessary is quite scary.

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