November 7, 2015
Long way to go, short time to get there. Quite honestly I’m surprised it made it to $9750. I like the wood!
Mike
Yet, factoring in buyer’s premium and sales tax, someone is already willing to fork over $12,000 for it. I suppose the very high auction estimate is a ploy to bring in a low-knowledge buyer who will think that if he can get it for somewhere between $10,000 and $20,000 – he is getting a super deal.
From my experience working at an auction house (James Julia, Inc. until its closing), a lot which doesn’t meet the minimum bid estimate does no usually sell unless item is announced as an ‘absolute’ sale. Even though the final bid is posted as a selling price, the bidder is contacted to be informed that the item has not met a reserve price.
Hopefully, no buyer will need to part with any coin to cover the cost of this mess of gross misrepresentation.
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