Vendor’s Dummy Bid

Under the current laws the vendor is entitled to only one vendor (dummy) bid and this bid is usually placed by the auctioneer. This bid is often done at a high amount as the venor/agent want a high published passed in figure if there are no further bids.

Therefore it is usually a good idea to make a bid before the vendor’s bid is placed to keep some momentum to the auction, as buyer’s rarely put forward bids after a vendor’s bid.

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