Quote:
Originally Posted by Dean Romig
One of the main jobs of any auction house is to entice folks to bid on an item so part of their strategy is to undervalue an item thus causing folks to think “Holy ****! now’s my chance to get one of these for way less than market price!”... and the bidding begins. Before long the item reaches market price.
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very true - how many times have you been to an auction and no one will bite on the first offered opening bid, so the opening gets lowered once or twice and then the bidding starts.
next thing you know- the same people who would not raise a hand to the original open are now bidding several times more than that to stay in the race.