Not pointless, and thanks for the insult. You are clearly a product of the property forum ettiquette.
If your reserve is $1.25m that is the bottom of the range.
Reality needs changing because there is zero transparency.
Refer to the original post. See the pics below re: passed in auctions. Their original price range is no longer stated. Was their reserve in that range? What was the highest bid? Was there even a bid?
When relisted as private sale was the relisting price higher than their range listed for auction?
I am sure all the people that went to the action, were very pleased to waste their time when the range stated for the auction went beyond and was then passed in.
They were very happy to be part of the theatre for the seller. That you are happy to think doesn’t need changing for everyones benefit.
It is a crock. It is an issue for a healthy real estate market. It is smoke and mirrors of hiding information. Pointless discussion according to you.
Take note below it is ILLEGAL to quote a price that does not cover the sellers reserve price. NEVER ENFORCED.
The OP clearly shows that has happened. It happens constantly. You are defending it.
