Re: Russo and Steele auction
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Do they shill bid on the lesser value cars? Say the 30-50K ones? The ones the average Joe would be interested in.
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Of course they do. Here is how it works. Shill bidding if less than 2 real bidders. So if the real bidder is close to the reserve, you see the guy on the floor trying to get the seller to lower his or her reserve. If the seller does the car is sold at that bid. Very seldom that the bid increases from there.
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I think your last statement was proven incorrect by the R&S example that started this whole discussion. I think the seller dropped his reserve at $265k'ish, and the car pulled another $80k or so. I think that was a pretty good run!
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Rarely does that happen. Watch the film footage or pay close attention at the next reserve auction you attend. You will see that this is normal business procedure. Don't think games are not played at the No Reserve auction also.
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Mike
69 SS 396 Camaro
69 RS/SS Camaro
69 LS2 T56 Camaro
69 Ls7 T56 Camaro Project
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