Once when I had a used car dealer's license, I took an Olds Cutlass to the dealer's auction in Lincoln, NE. I put a $3400 protection price on it. Like you said, the paperwork was rigged so the auctioneer knew the seller's bottom dollar.
The bidding stalled out on the Olds at $3250. The ringman asked me if I'd let it go for that. I told him I had to have $3400.
The ringman replied, "We've only got one guy bidding. We'll work on him some more".
The started the bidding again and pretty soon they hit $3400 and sold it.
Sometimes on those dealer auctions, I think there are as many deals made in the parking lot as in the auction ring. And you can get permanently barred from the auction if you get caught.
I took an old Buick to the same dealer's auction once and put a $1400 protection price on it. A dealer I knew had high bid at $1250 and it was a no sale. A few minutes later the dealer asked me if I'd take $1250 if I didn't have to pay the auction commission. I told him I would. He told me to let the car sit in the lot with the keys in it and if I met him in the far corner of the lot he'd slip me a check.
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Today's Featured Article - On the Road with Dave Gohl: Auction Musings - by Dave Gohl. I was thinking the other day about all the auctions I've been to in the last few years. There've been many. Some have been very good, some have been well, disappointing to say the least. But no matter how good or bad auctions may be, we always seem to stay until the item we've come for or are interested in is on the block. I've been to some auctions near and far. I think the furthest has been the Two Cylinder 7 in the Amana Colonies last year. Lots of stuff, lots of people. I've also atten
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