| re: i guess if your super rich | |
| Posted by: ryhog 05:19 pm EDT 06/23/24 | |
| In reply to: re: i guess if your super rich - davei2000 02:37 pm EDT 06/23/24 | |
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| I agree about the headline. I think the auctioneer was also a bit misleading. In the totality of auctions, it is very unusual. It is only "usual" with the added circumstance of someone "who really wants to corner the attention." But it is really not a sane tactic when the buyer is anonymous because what does the attention get them? I just called a friend who works at Sotheby's and is involved in a lot of auctions involving celebrity estates, etc. He said there is a legitimate tactic which is to double or triple the opening bid and sometimes the next couple if necessary, but the purpose of that is to clear out the "low-ballers" while not overspending. Usually the goal is to get the bidding down to 2 bidders and then it can quickly proceed in the ordinary way. He also offered that anyone who does what happened here (and he had seen it) is a little "cray cray." He also added that one does not have to be "super rich" to blow $20k on a stunt, that the super rich engage experts to bid for them, that auction houses do not intentionally "underprice" because it is bad for business and likely illegal, and that he felt Doyle did an exceptional job on this auction but that many of the items had no comparables. | |
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