About 20 years ago, I had a used car dealer's license. I took an Olds Cutlass to the local dealer's auction and put a $3400 protection price on it. The paperwork is rigged so the auctioneer knows the sellers bottom dollar, but there's no way the buyers can.
The bidding on my Olds petered out at about $3200. The ringman asked me if I'd let it go for that. I told him I needed $3400. The ringman said, "OK, we only have one bidder. We'll work on him some more".
They started the bidding again and pretty soon had $3400 bid and sold the car. I have no idea where in the rafters they were getting their other bids.
Those dealer's auctions definitely aren't for the naive or faint of heart.
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Today's Featured Article - A Question for Dads This recent topic from the Tractor Talk discussion board is being highlighted because it is an awesome display of the caliber of individuals that have made this site their own. The young person asking questions received positive feedback and advice from total strangers who "told it like it is" with the care many reserve for their own kids. The advice is timeless... so although it isn't necessarily antique tractor related, it will be prominently displayed in our archives to honor those who have the courage to ask and those who have the courage to respond in an honest, positive manner.
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