Posted by olgentdc on November 08, 2017 at 19:28:30 from (50.127.44.66):
In Reply to: Re: sat auction posted by Leroy on November 08, 2017 at 09:24:00:
Consider this scenario Leroy ,. there was a parts auction down in Ky , I could not go ,So i called the auctioneer,.He asked me to place My highest bid on any pallet of parts and if no one overbid me i would get the pallet. lots of stuff were 25-100 dollar sorties . trouble was for example: If i bid 1000 dollars for a engine on a pallet and the highest bidder there only went to a hundred,even though the auctioneer was begging for 125 ,and annouced he had a higher telephone bid and marked it sold ,. then i was on the hook for a thousand , Rather than the 125 ,Before , I chose not to participate , I described that exact scenario to the auctioneer , and He said YES ,Whatever my hi bid was stated at ,That Was what i Would pay regardless , even if a item failed to get a start bid of 5 dollars from the live field , and i was willing to go 50 , 50 ,was what i would pay. i decided not to get involved
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