2. misc-audio
  3. 1376830302

Questionable Estate Auction practice

Yesterday I attended an auction with high end equipment.
I won a pair of speakers but after all the items in the setup, (turntable, amp, pre-amp, cassette deck, cd player), were sold as individual pieces, the auctioneer restarted the bidding as a set. This starts the bidding at the total price bid for all the items. As a result someone bid on 'the set' so all the individual bidders were SOL. I was not willing to go that high to get the speakers, (I didn't want the other items). So I lost the speakers even though I bid the highest. I was upset and I'm not sure if this practice was even legal. Anyone ever here of this? BTW-Speakers where Apogee Duetta II's.
fse

Showing 1 response by mateored

mateored
258 posts
 
We do this in bankruptcy court auctions from time to time, but the rules are spelled out very clearly in advance, and everyone who qualifies to bid consents to the process. It's a smart way to sell, and is fair as long as everyone knows about it.

Whether it is legal in your state if not disclosed in advance is a matter of local law.
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