Forrest, how do you know where to start with your offer? I am always curious about where the bidding stopped, but that information isn't available. How do I avoid offering less than a previous bid?

Bill, check your PM. Also, maybe Josh will elaborate?

I would be curious about that too

Don't think there is any way of knowing what high bid was unless you were monitoring the auction via Proxibid, Invaluable, etc. I simply submitted a reasonable offer which was below the low end of the estimated range, they telephoned me and we negotiated a "drive out" price (which included the buyer premium).

Forrest has it right. If your offer is near the reserve price set by the consignor we will attempt to make the deal. If your offer is too far off of the reserve or simply wont be accepted, you probably wont hear from us. We receive thousands of offers and only have time to work on the ones that are within a reasonable amount to the sellers reserve.

Josh,

I agree on the process used. It would be nice to know the last bid to help with making an offer. Do you ever see the consignor take a lower offer than the high bid (not accepted) at the auction?

Ken

There seems to be a lot of guns that did not sell. If this typical?