Yes the risk reward for the agent would be jumping up very quickly when the bids are over the reserve I can agree with that. What about affiliates of the vendor? I imagine it would get very messy is a mate gets the winning bid, what happens with the deposit if the buyer pulls out?
How is the typical auctioneer and agent relationship? Are they strictly buisness above board audited and so on?
How oftern does a successfully auctioned property re-appear with the same vendor? 1 in 1000, 1 in 100, 1 in 10?
