Posted by Joe Baker on March 19, 2001 at 10:32:21:
In Reply to: Re: Re: Re: Re: King Sousaphone my father gave me posted by Gus Pratt on March 19, 2001 at 10:01:38:
Gus, I don't want to get into a big 'thing' over this, but I believe I am correct, at least in practice. I'm not sure what happens if multiple bidders bid the EXACT SAME amount, but this would be really unlikely. If 'A' bids $2900, then 'B' bids $1500, and the bid increment is $1, 'A' will be the leading bidder with a bid of $1501. Then along comes 'C' to bid $1800. Now 'A's bid is bumped up again, and he leads with $1801. The auction ends, and you have your value, $1801, even though 'A' WOULD have been willing to pay $2900.
Joe "Wish I could sell what sounds like an Eb sousaphone for $1801" Baker