Quote:
... Then on the day of the auction my brother's cousin father has a prior bid already in so you would loses the lot at your top price to a prior bid ...
Sorry; not following.
I thought the point was that we knew the floor bidder, and that the floor bidder bid from the floor, and won.
I apologize if I blew past the news about a prior tying bid.
I do understand that, if the floor bidder is, uh, in a relationship with the auction firm, then they are buying the lot without suffering the buyer's premium & house commission, as these move from one pocket to another.
This is not unfair to the seller - the net is the net - but it would present a significant advantage over other bidders, as (round numbers) the insider agent can afford to bid U$D 1.50 to every other bidder's U$D 1.00.
Wasting the other bidders' inspection time is not a small matter; one can only hope this happens rarely.
I was not there, can read no one's minds, and do not know who bought what for whom.
Cheers,
/s/ ikeyPikey