Steve Verkman auction policies

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Posted By: Mark Peavey

Okay, maybe I'm naive, but this seems strange to me. Last night during the Steve Verkman auction, I placed a maximum bid of $275 on lot 35 during the early stages of the ten minute rule. At the time, it was only bid up to $140. About an hour later, someone matched my bid of $275, and their bid was honored over mine. I talked with Steve, and his response was that only a straight bid would have topped the other bidder - not a maximum bid. I realize he has the right to set his own rules. Do any othe auction houses use this policy? It is not mentioned in his auction rules. I often bid in card auctions, and nothing like this has ever happened before.