Re: Mecum Rule?
Cool rule really and hats off to Dana!
To clarify also question further, the auctioneer gives only the high bidder one chance to bid an exact amount necessary that meets reserve or whatever figure calculated that can make it sold...right?
If so does this apply to all Mecum reserve auctions and regardless of bids reached or is there a % of bid amount versus 'sell' ratio necessary before the auctioneer offers this?
Using the example above, the bidding stalled at over 90 percent of the 'sell' amount but if reserve was say 400 thousand and bidding stalled at 300 thus a 75% bidding/sale ratio, is it still offered to the high bidder at the 400 etc, etc?
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~ Pete
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I like real cars best...especially the REAL real ones!
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