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If you put in say 100k bid on a horse but the current bid is 60K it will mark you at 61K. Now someone can see behind the scenes you have 100K bid as a max. They can easily run there bids to 99K making your 100K bid live.
i predict RESERVE NOT MET
Not sure what reserve isCurrent Bid $205,000
If it was on the up n up they would show you who is bidding by name. When your at a live auction you can see who your bidding against most of the time. If your at a live auction and ask to know who your bidding against and the auctioneer can't show you your likely bidding against the consignor. This is why the major auction houses have to put an identifier by the bidder now so there are public records of bids. eBay does the same thing.
That rarely ever happens at a live auction. You’d have to be standing next to the spotter to see who he is looking at.
I wonder how much commission they charge on a horse like this ? I bet it is a set fee. It stirs up interest in the site.
Normally, it’s $150 +4%, I believe.