Re: Mecum Rule?
 

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Mr70</div><div class="ubbcode-body">Don't forget the NFL's &quot;Tuck Rule&quot; too.
I know the Oakland Raiders won't. </div></div>

And of course there is always the &quot;Adam's Apple&quot; rule when looking at the prospective &quot;ladies&quot; in a dimly lit bar room at the end of the night.... [img]<<GRAEMLIN_URL>>/blush.gif[/img]

Re: Mecum Rule?
 

I never heard of the &quot;mecum Rule&quot; until now, but I attend at least four car auctions a week for a living selling trade-ins and supplying the used car lots for a new-car dealership (been working there 31 years). It is customary procedure that if the car on the block hasn't met the floor price (reserve) that the LAST (high bidder) bidder has the first right to raise his or her offer. If that bidder chooses not to, then the car is offered to whoever may want to pay what price the seller is willing to take. When I am on the block selling, the same applies and the AUCTIONEER controls the sale--NOT the consignor (seller). Sometimes a buyer way wander in that lane near the end of the sale and NOT hear the conditions under which the car is being sold (announced defects, branded title, etc.), make a bid, win (buy) the car and THEN want out!!! Under auction policy he owns it---it is then up to the seller if he/she wants to &quot;un-wind&quot; the transaction.
Those TV auctions are usually all &quot;AS-IS&quot; so many of the daily auto-auction rules will not come into play.
TAKE MY ADVICE---read ALL the rules BEFORE you bid!!!!!!!!The bigger auction houses will many times negotiate the fees to get a car sold---&quot;part of something is better than all of nothing&quot;. The daily auctions will not do this and their fees are non-nogotiable. Then there is the whole subject of ARBITRATION. I could write a book!!!
Enough for now............Dave.

Re: Mecum Rule?
 

I'd think a savvy buyer, would say well, I'm only one in the ballpark. It can go to &quot; bid goes on&quot; and seller can sweat awhile for it. When he get's desperate for a sale call me.

DL

Re: Mecum Rule?
 

That is Dana asking the high bidder.

Re: Mecum Rule?
 

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: njsteve</div><div class="ubbcode-body">Man, this is like the Infield Fly rule in baseball or the En Passant rule in Chess.

Definitely goes to show that you really need to know the rules before you do the auction dance.

Thanks for the explanation.

Now lets discuss the Alternative Minimum Tax rule...... </div></div>

AMT anyone?? [img]<<GRAEMLIN_URL>>/grin.gif[/img]

Re: Mecum Rule?
 

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: njsteve</div><div class="ubbcode-body">Man, this is like...... the En Passant rule in Chess.

...... </div></div>


Been playing idiots for 40 years I guess, just had someone pull that on me for the first time last month. [img]<<GRAEMLIN_URL>>/dunno.gif[/img]