I've seen them try to back out - saying it was a mistake and get the prior bidder to go ahead and take it.
I've also gone ahead and bid - knowing the auctioneer was doing that - just because I needed/wanted the item. I don't like it, but there is nothing saying any auction buyer is guaranteed that everything will be available for pennies on the dollar, either.
At the big Bridgeport sale several years ago - Kruse auctions clearly called "sold!" on a big antique tractor sign at $3000 or so - as a guy was running in from the back shaking his head and waving... When the auctioneer saw him - after yelling sold - he then opened it back up and started taking bids again - and ran it up to twice the original "sold" price. The fellow that lost out was almost purple - he was so mad, but that's probably just an example of why Kruse went down the drain.
I've seen one auctioneer who collects up junk for his consignment sale - and then buyers are competing with him for most of what is auctioned off. Needless to say - he's not thought of very well - and his sales are very poorly attended.
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