Perhaps 'Almost' is key word- for good reason! At least: Auctioneer has unlimited access to item pre sale, others not. Auctioneer adversities, represents , and displays sellers item as he sees fit. Buyers have no such control. Hypothetical: Auctioneer displays poorly running tractor. Other bidders (that is us 'arms-length' guys) bid up item to a price they feel is fairly justified by real time presentation of tractor. Auctioneer , before dropping hammer, outbids last 'arm-length' guy, and wins item. How is / are the Seller or Arms-length bidders expected to be confident that the tractor was correctly displaced, represented, et cetera? Simple principle- auction price IS real fair market price of auctioned item fairly represented and bid on in real time by arms length potential buyers. Logically, if auctioneer out bids same he must 1- be a fool, or 2- know something the other bidders can not. In this hypothetical- maybe the fuel filter is a bit restricted. Simple-cheap fix! Maybe the Print sold was really hand sighed somewhere under the frame, where the 'Arms length guys are unwilling or unable to inspect. Lastly, if the auctioneer honestly wants to protect the Seller, he is free to set up a Reserve Price with the seller. I say again: Auctioneer represents himself and Seller. Any Sellers agent bidding is Straw. Auction price should be bonefied real time fair market price. Only a fool outbids a fair market. If not really a fair market price than auction was improperly conducted (example- poor advertising), a manipulated (example- a Crook or Straw bidder)
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Today's Featured Article - The Engine Rebuild Kit - by Curtis Von Fange. I always liked engine rebuild kits. They have all the replacement parts for overhauling an engine without going to the store to get gaskets, special measuring tools, or miscellaneous parts. They come neatly packaged, clean and tidy. But it's important not to let that packaging lull you into a false sense of security. The appearance of matching sleeves, pistons, rings, and bearings can cause frustration and agony if not properly measured and installed in a workshop environment. Following c
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