Ross/Kzoo
Well-known member
My problem with the auction scene:
I was watching a TV show about auto auctions and learned that the auctioneer can pretent that there are bids up to the reserve price. This sounds bad to me.
Let's say that someone has a 30 coupe worth about $18,000. He puts a reserve of $22,000 on the car. The auction starts and eventually it goes up to where a real bidder bids $18k, the auctioneer indicates that he has another bid of $19k, the real bidder bids $20k and won't go any higher. The reserve is NOT met, the car doesn't sell at this auction but the cars new is "over $20k" because of the "value" established at the last auction.
I was watching a TV show about auto auctions and learned that the auctioneer can pretent that there are bids up to the reserve price. This sounds bad to me.
Let's say that someone has a 30 coupe worth about $18,000. He puts a reserve of $22,000 on the car. The auction starts and eventually it goes up to where a real bidder bids $18k, the auctioneer indicates that he has another bid of $19k, the real bidder bids $20k and won't go any higher. The reserve is NOT met, the car doesn't sell at this auction but the cars new is "over $20k" because of the "value" established at the last auction.