The following was taken from HJ's news article on the the Friday 14th car auction,
"But either the vendor pushed the auctioneer to run it to an unviable £7,100, or there were simply no bids."
Question is, do auctioneers take bids "off the wall" at car auctions to try and get a sale going.
s
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of course they do. All professional auctioneers do it, and so long as they're pushing it up towards the reserve price then its not an issue. If you don't want to bid at the price the auctioneer is asking then don't bid. If it isn't at the reserve and you still want it, but no-one else does then without the auctioneer bidding it off the wall then you won't be able to buy it.
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I read often, only post occasionally
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So they only bid off the wall to make it reach the reserve if only one is bidding,I understand that but is it possible the auctioneer may risk taking bids off the wall after the reserve has been reached if they sense the bidder has money to throw away.
Could be a nervous moment if you are standing at the spot where he is taking the bid off the wall :-).
I am only asking out of curiosity, no way would I buy a car from an auction although I have bought many a bargain from general auctions.
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Its quite easy to spot an auctioneer taking bids off the wall (shill bidding), he scans the hall looking for a bid and does'nt make eye contact with anyone as the bids increase, genuine bids get eye contact as the auctioneer looks too and fro between bidders
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>Its quite easy to spot an auctioneer taking bids off the wall
In a room with several hundred buyers where the bids are going up to seven figures? Tricky.
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With 100's (1000's?) of vehicles going through the big multi lane auction houses per sale auctioneers need to move along briskly, starting below reserve to entice bids and hopefully get the car sold above reserve in the quickest time possible. Attend an auction and observe, you'll soon see how easy it is to spot.
;o)
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Post sent to GCHQ for deciphering ! - PU
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