Re: Reserve price farm auctions

Posted by Fallon on June 17, 2005 at 12:52:22 from (209.150.1.210):

In Reply to: Reserve price farm auctions posted by Ray on June 17, 2005 at 12:24:52:

If they wanted to have a reserve type auction, they should just start the bidding at the reserve price. If nobody puts up a bid, they could then go to a closed bid type auction an let everyone put their highest offer in an envelope. That way, if the seller really wants to get rid of the equipment, he can decide on the highest closed bid. At least there"d be no backdoor "house bidders". You"d think a tactic like that would be breaking some sort of law. Like the old "bait and switch" tactic we"ve all heard about.

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