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#1
02-20-2008, 01:45 AM
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Re: Russo and Steele auction
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#2
02-20-2008, 01:46 AM
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Re: Russo and Steele auction
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#3
02-20-2008, 01:47 AM
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Re: Russo and Steele auction
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#4
02-20-2008, 01:48 AM
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Re: Russo and Steele auction
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#5
02-20-2008, 01:59 AM
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Re: Russo and Steele auction
[ QUOTE ]
...... [/ QUOTE ] no sympathy if you signed that and say you didn't see the reserve 
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#6
02-20-2008, 02:05 AM
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Re: Russo and Steele auction
Wait,
Which car are we disucssing? If you sign a paper with a 100k reserve, then I agree, you can't raise it later. You can opt to lower it, but not raise it, imo. What's up with the BOSS story of RS shill bidding the car and winning the auction? Am I misunderstanding that?
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Rich Pern 69 Camaro COPO "Tin Soldier"
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#7
02-20-2008, 03:37 AM
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Re: Russo and Steele auction
Russo and Steele, as well as most of the Auctions which have a reserve retain the contractual ability to advance a bid up to, but not in excess of the Reserve.
They also have an arbitration clause to help settle disagreements and misunderstandings, if needed.
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Click to visit the Nickey Performance Facebook--> 
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#8
02-20-2008, 07:22 PM
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Re: Russo and Steele auction
You know, this guy states that he never knew his contract has $100,000 as the reserve, but please notice, he signed this in November. How long does it take a person to realize a mistake?
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#9
02-20-2008, 07:30 PM
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Re: Russo and Steele auction
[ QUOTE ]
You know, this guy states that he never knew his contract has $100,000 as the reserve, but please notice, he signed this in November. How long does it take a person to realize a mistake? [/ QUOTE ] Two different cars. I think everyone reasonable can agree that if you sign a contract for 100k, you should live with that. HOWEVER, from what I read here, this guy is the BOSS429 guy, who agreed to allow RS to lower his reserve, and the car sold. BUT,it turns out that RS did not communicate with their "shill" bidders that the reserve was lower. Thus, resulting in RS "winning" the BOSS429. Seems to me like it's Mr. Drew whos the one "whining" now..... IMO, RS should have "manned up" and made their mistake right. Also seems like the practice of changing the contract arraingements on the block is one big mess.........
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Rich Pern 69 Camaro COPO "Tin Soldier"
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#10
02-20-2008, 08:09 PM
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Re: Russo and Steele auction
Can R & S really have it both ways? Do I understand this situation correctly ?
If you allow for a reserve to be lowered and you accept the lowered reserve yet fail to communicate to your employee ( the hardest working gang in the business)that the reserve is lowered and then your employee is bidding in the capacity to create action up to the reserve yet bids passed the reserve and becomes the high bidder , then you own the car! You can't split hairs here. Of course if it does say on the contract " If we accidently bid your car passed the reserve and become the final bid we reserve the right to tell you sorry we made a mistake" Well then I guess it is OK
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Some Chevys and some old race cars
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