01-24-2016, 09:52 PM
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CC Member
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Join Date: Apr 2003
Location: Vero Beach,
FL
Cobra Make, Engine: COX 6111 - '66 "AC 289 Sports."
Posts: 1,572
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Not Ranked
Just as a reminder, many if not most auction catalogs state clearly that the auction company itself reserves the right to make bids on sale lots "up to, but not exceeding, the seller's stated reserve price." Hence reputed bids on vehicles that did not meet reserve and did not sell may have never existed in reality. Dealers bringing vehicles to auctions, setting unrealistic reserves, and later claiming that "there were bids up to X" is a common gambit to make unsuspecting potential buyers believe the market is ahead of the sales figures they use as bidding guidelines. Nice game, that.
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Ned Scudder
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