dodgy auctions, page-12

classic UT !!!

doesn't GET the post but replies to it anyway !

mrlunoon:

vendor is allowed to 'have a go' with ONE bid in order to start the auction ...

that is the point of it ( blunt one if you ask me but...)

it is there to prevent bids starting in 300's if the vendor is looking for 800's (just to bring the bidding closer to reserve price)

this is solely for time saving purpose (for the sake of everybody at the auction...or everybody at the whole RANGE of auctions if they are done away from the property...in the RE office)

they are not meant to allow vendor to tickle the buyers and 'work them into a bidding war' or anything of the sort !

that is why these should be looked at by the authorities (laws have become tighter...stuff that was happening couple of years ago doesn't pass any more so...)

i get what you are saying (it is hard to pin them down for this or that) but we have to start somewhere, dont we?

for instance: WHO DO WE REPORT TO these irregularities ?

who is in charge? do we have legal eagles here that could tell us whose jurisdiction is this?