JR,
In order for the seller to buy his or her car back they have to be the high
bidder. That's how they buy it back. It is not subject to the seller's
approval. In doing so they have to pay the 8% fee to auction the car and
the 8% buyers fee not to mention the cost of entering the auction and
transportation expenses.
Pete
-----Original Message-----
From: owner-healeys@autox.team.net
[mailto:owner-healeys@autox.team.net]On Behalf Of jrhill
Sent: Tuesday, February 01, 2005 6:13 PM
To: healeys@autox.team.net
Subject: Barret-Jackson Thread
At least twice in the course of discussing the B-J auction there were
references to sellers "buying their car back" after the auction by paying
the bid price and the commission(s), and now I'm curious . . . does the high
bidder at the auction have a voice in this?
Somehow I was under the impression that the high bidder in a no-reserve
auction became the owner when the hammer fell (subject to paying the price
and the buyer's commission, of course). If the transaction is subject to the
seller's approval after the fact, it's an entirely different matter.
Just curious . . .
JR Hill
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