Sale room problem, is this a scam

bullinn1

Hi chaps, I visit a sale room most weeks, 3 weeks ago I saw a small painting I liked - I was happy to pay £50 (a big spender me) - anyway the auctioneer said he "had some interest" and started at £100, it quickly got bid up to £135 and was knocked down ... anyway it was on the wall the following week and the same thing happened ... and it's there again this week. I asked the 'porter' what was going on and he said "... don't know mate ..." - I'm sure this isn't a con but anyone any ideas as to what they're up to ? Regards Roger

charlies_mum

Sounds like it isn't reaching it's reserve price. It's not a scam, and happens all the time in sales rooms.

You could try asking what the reserve price is, but they might not tell you.

bullinn1

Thanks for that and a good thought there's a guide price in the catalogue (£100) and the bids have always exceeded that figure and it's been 'knocked down' ie sold ! having said that I've never actually seen any hand waving - I think it's some kind of ghost bidder thing and I don't imagine there's anything fraudulent going on I'm just intrigued as to what it is ...

pinkshoes

They usually say in the auction if a reserve is not met, but I'd guess it's a reserve too.

Why not put your £50 offer on the table, so they can take it or leave it?

hermum

When it was knocked down, did the auctioneer, say it was sold? Usually they say if it didn't reach the reserve. Or the auctions that I go to do anyway.

bullinn1

I'm pretty sure he said 'sold' ... he certainly didn't mention not reaching the reserve ...

charlies_mum

hermum wrote: »

When it was knocked down, did the auctioneer, say it was sold? Usually they say if it didn't reach the reserve. Or the auctions that I go to do anyway.

I go to dozens of auctions a month, and very rarely do they say that the reserve hasn't been met. They usually say sold, but then put a line instead of the bidders number.

If the guide price in the catalogue is £100, then sounds like the reserve price is around that figure.

ootie

Does make you wonder though how the guy doing the shill bidding thingy on ebay could be prosecuted and may even be jailed. What's the difference?

RFW

ootie wrote: »

Does make you wonder though how the guy doing the shill bidding thingy on ebay could be prosecuted and may even be jailed. What's the difference?

Its easier to prove online. An auctioneer can say he was left a bid by Joe Bloggs who then never came to collect. Salerooms will have as part of the conditions of sale that the "auctioneer reserves the right to bid on behalf of the vendor".

It could also be the case (albeit unlikely) that the painting has been sold and uncollected a couple of times or that it is not an original and they sell a different one every week, having said that the likeliest is the auctioneer bidding to try and sell at or near its reserve. Also as another auction insight it may be that it is the auctioneer or the salerooms that own the goods and are trying to sell it to make a profit.

bullinn1

All sounds plausible I helped with my dilemma ... thanks chaps ...

soolin

WE get bidders at the auction house I go to who do not come and collect and the stuff goes back in, There has been one pot already that's come round twice, the last time the porter took a phone bid and the auctioneer asked who it was and then told the porter to inform the punter that he was no longer accepting bids from him as he has already failed to pay for the vase once before.

The other auction house i used required an upfront deposit before you could even place any bid, and they had a lot less failed sales as they just kept the deposit if they were let down.