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09-17-2024, 05:59 PM
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#1
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Years ago, it was explained to me by Dan Kull, though I'm not 100% certain I can state it as he did to me, after loosing an 1895 Deluxe Winchester. I had submitted a written bid about a week before the auction, which I thought was the winning bid. In fact I didn't win it, because the auctioneer started the item well below my bid, but because of the bid increment, a floor bidder tied my bid, but because I was not present to enter a tie breaking bid, and the floor bidder was, the gun was awarded to the floor bidder. What I never understood, was why they started well below my bid, and not opened the bidding at what was, at the time, the highest bid.
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09-17-2024, 09:19 PM
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#2
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Quote:
Originally Posted by edgarspencer
Years ago, it was explained to me by Dan Kull, though I'm not 100% certain I can state it as he did to me, after loosing an 1895 Deluxe Winchester. I had submitted a written bid about a week before the auction, which I thought was the winning bid. In fact I didn't win it, because the auctioneer started the item well below my bid, but because of the bid increment, a floor bidder tied my bid, but because I was not present to enter a tie breaking bid, and the floor bidder was, the gun was awarded to the floor bidder. What I never understood, was why they started well below my bid, and not opened the bidding at what was, at the time, the highest bid.
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If there are say six proxy bids of which let’s say five are $1000 or below and yours is say $1500 and the increment above a thousand is 250 they should start at $1250 and go from there . They shouldn’t start it more than one increment above the next closest proxy bid to yours .
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Parker’s , 6.5mm’s , Mannlicher Schoenauer’s and my family in the Philippines !
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