The Ford Barn

Ross/Kzoo · 11-01-2010, 06:18 AM

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.

Jim Brierley · 11-01-2010, 11:51 AM

I've told my wife that when I pass the first thing she is to do is to shut and lock the garage doors. She knows who to call and most important who to not let in. I suggest we all have a talk with our wives about this matter, it will come!

11-01-2010, 06:18 AM	#21
Ross/Kzoo Senior Member Join Date: May 2010 Location: Richland Mi. Posts: 1,172	Re: Off Topic 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.

11-01-2010, 11:51 AM	#22
Jim Brierley Senior Member Join Date: Jun 2010 Location: Temecula, CA Posts: 4,089	Re: Off Topic I've told my wife that when I pass the first thing she is to do is to shut and lock the garage doors. She knows who to call and most important who to not let in. I suggest we all have a talk with our wives about this matter, it will come!