Exhibition VLADEY

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Repeat . The reserve price may not exceed the lower estimate lot. This is not allowed in order to avoid a kind of false advertising when, under the notoriously underestimated gather additional potential buyers .

Perhaps you have been witnessing unfair advertising in major supermarkets. The catalog indicates a product with a price clearly below cost. This announcement comes a lot of customers and it turns out that there is no product announcements , allegedly sold out, maybe, and really sold out, for he was in trace amounts. Frustrated by lack of buyers for the sake of what came make other purchases . This type of fraud is also essentially prohibited.

That is, is the law. Another thing is how it operates . On the floor of fraudulent auctions like Mc Dougal and Eugene Shapiro can be seen and no such violation. Furthermore, in practice they can be persuaded deliverer at the last minute to reduce back rates . So at the auction as it legally can be sold below the reserve. It was as if , because no securities will not be issued .

Generally speaking , the expression of the starting price no statute carries no meaning . The auctioneer may start at any price , and usually it is less than the backup typically twice. This is done for the " warming up " buyers. Sometimes (often on beskatalozhnyh auctions, where the main buyers sellers and professionals ) auctioneer , seeing that the professionals are waiting, do not pop out , dramatically reduces the current price, up to 1funta , dollar , euro , immediately instinctively rises forest of hands , then play these buyers trick experienced auctioneer .

However, in any case , the auctioneer to sell at a price lower than the backup does not have the right , as well as put in the catalog lower bound is less than the reserve.