I agree with others that say "bid what you want to pay, stop when it's too much".
The only thing I don't like is if there is a reserve and no one is told. Nothing worse than to think you've bought something and then find out you didn't.
BTW, similar thing also happened once at a real estate auction. Bunch of parcels were auctioned off of one large piece. After the last lot went, auctioneer said we're going to go to the second round where people can combine bids on parcels and if the price for multiple parcels was more than what the individual pieces went for, the combo bidder wins. Huh?
Lots of unhappy people who got outbid by people when their lot was folded into another bid package.
Then, when all was said and done, the auctioneer and seller huddled and the auctioneer announced the sale was off, the seller didn't get what he wanted from the overall sale. (Several million, IIRC, was the overall total. Don't know what he wanted)
Now EVERYBODY was unhappy, except the auctioneer who got a payday.
That was the last time I went to one of that outfit's real estate "auctions".
Nowadays, I research real carefully before I waste my time going to an auction. There had better be multiple pieces I'm interested in, not be too far from home, not interrupting any of my major projects I might have going on. My time is worth something and as I get older, it becomes more valuable. :D
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