Quote:
Originally Posted by powerslide
Related to unusual Cobra pricing....did any of you follow the bidding on the NAF 289 FIA located in NW Washington state? All week long the price was stalled at $15,100 and 16 bids. Then with just a few hours to go the price shot up to $33,450, 25 bids, and the reserve appeared to drop off.(I thought it was the typical last minute feeding frenzy). Then with an hour and a half to go the amount of $15,100 reappeared with 16 bids! What the.....? The reserve was back on. The auction closed at $15,525, 17 bids, and the reserve not met. What am I missing here?
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That usually happens when there's a bid retraction for some reason. Either the bidder made a "mistake" and asks to be released from his bid, or the seller decides not to accept the bid for some reason (low bidder feedback score, bidder outside the country, etc).