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First Land Auction
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barren
Posted 3/14/2009 22:45 (#644694 - in reply to #644638)
Subject: RE: First Land Auction


Glasgow, Ky

Sorry for not explaining that.  A "by bid" is a bogus bid.  They are typically used by the auctioneer and/or seller to get the bid up to the minimum amount a seller will take for the item being sold.  The "by bid" can be what appears to be an actual bid input by a person enlisted by the auctioneer and/or seller to do this or the bid can be pulled "out of thin air".  

Personally, this is something that will kill an auction very fast if it becomes known to the crowd that this is happening.  I would much prefer that a person put a minimum starting price on something rather than spending time attempting to auction it off and it winds up a no sale.  

The best way to get active bidding is for the auction to be an absolute auction.  This is one with no reserve.  High bidder wins.  No exceptions.    

 

 

             

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