Mastro Auctions Mastro's Stuff?

[Peter_Spaeth]

If that happened that would not be a good thing. All I was saying is that I could envision a scenario where an employee genuinely tried to win an item consigned by a third party.

[Orioles1954]

I can only speak for the auction house I work for. Sometimes, the same item has been auctioned twice due to non-payment in the first auction. We then will go to the consignor and either A.) return the item or B.) run the lot again a second time.

[calvindog]

Originally Posted by Orioles1954

I can only speak for the auction house I work for. Sometimes, the same item has been auctioned twice due to non-payment in the first auction. We then will go to the consignor and either A.) return the item or B.) run the lot again a second time.

What if there are hidden reserves which are not met and the items are then given back to the consignor with false sales recorded? Does that ever happen?

[Orioles1954]

Originally Posted by calvindog

What if there are hidden reserves which are not met and the items are then given back to the consignor with false sales recorded? Does that ever happen?

I have never participated in such action. If I was asked to participate or knew of such actitivity happening I would resign immediately.

[Orioles1954]

Originally Posted by Orioles1954

I can only speak for the auction house I work for. Sometimes, the same item has been auctioned twice due to non-payment in the first auction. We then will go to the consignor and either A.) return the item or B.) run the lot again a second time.

I will also add C.) If one of us pesky writers accidentally messes up an item and we accept it as a return from the winning bidder (doesn't happen often).

[David Atkatz]

Originally Posted by Peter_Spaeth

If that happened that would not be a good thing. All I was saying is that I could envision a scenario where an employee genuinely tried to win an item consigned by a third party.

The "employee" happens to be the boss.

[Peter_Spaeth]

David, was Bill the winning bidder on your Yankees ball?

[David Atkatz]

Originally Posted by Peter_Spaeth

David, was Bill the winning bidder on your Yankees ball?

I have no way of knowing that. All I do know is that many of the items now being offered as coming from his collection were last seen being "sold" in a Mastro auction.

[Shoeless Moe]

I just hope it goes to a jury trial, and then the jury has 20 minutes increments to deliberate and cast a not guilty vote and then deep in the night once there are 20 minutes without a not guilty vote they can vote Guilty and call it a night!

[autograf]

+1..........funny

[Exhibitman]

I don't have a problem with an auction house employee winning an item offered in the auction; the more legit bidders, the better for the consignor [assuming arguendo that the consignor is actually paid for his lot ]. I can see, though, how allowing the auctioneer to bid could allow the auction house to shill bid the item, so unless a third party is administering the auction in a manner that somehow prevents the auctioneer from seeing the max bids of the bidders, it would be problematic to allow the bidding.