NASCARCorvette No. 211

Chandelier Auction Bidding...

is normally phantom bidding, designed to make people think there's a competitor when there isn't one. Per Amy Cappellazzo of Christie's, "Chandelier bidding is, which is the auctioneer is allowed to bid on behalf of the seller up to the reserve price. So the point of an auction is that sort of canter, lively chatter, and get a little momentum going. So the auctioneer is allowed to bid on behalf of the seller and take bids, whether they exist or not, until they get close to the reserved price. That's part of the dance of the auction, part of the momentum, and part of the theatre that goes into it."

So... when most thought it took two bidders I have always known that it only takes one bidder and a good auctioneer that knows how to read the trees, plants, tent poles, chairs, and of course, the chandeliers. This is a legal auction practice which is normally disclosed in your bidders agreement for auction of items with reserves. Your comments and/or questions are anticipated. Email [email protected]

Tags: Classic Corvettes