http://www.auctioneertech.com/2009/acceptance-of-real-time-internet-bids/ Technology, auctions and auctioneers - auction tech for the auction industry Thu, 26 Aug 2010 17:38:00 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.auctioneertech.com/2009/acceptance-of-real-time-internet-bids/#comment-290 John D Schultz Mon, 18 May 2009 21:26:28 +0000 http://www.auctioneertech.com/?p=942#comment-290 Aaron, excellent post. Personally, I believe the legal consequences of auto acceptance and retraction of bids on the fly when a bid is awarded to an onsite bidder outweigh the benefits. Not to mention the consequences when an auctioneer announces sold, an online bid comes in, and the online bid is then retracted. My duties as agent to the seller are compromised, and could result in legal action from an online bidder (high bid was greater than selling price), and a seller (selling price was less than actual high bid). Aaron, excellent post. Personally, I believe the legal consequences of auto acceptance and retraction of bids on the fly when a bid is awarded to an onsite bidder outweigh the benefits. Not to mention the consequences when an auctioneer announces sold, an online bid comes in, and the online bid is then retracted. My duties as agent to the seller are compromised, and could result in legal action from an online bidder (high bid was greater than selling price), and a seller (selling price was less than actual high bid).

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