Reser­va­tions about auc­tion prac­tice

Classic Car Weekly (UK) - - Your Letters -

The prac­tice of quot­ing es­ti­mates be­low a re­serve is ut­terly be­yond the pale and in di­rect con­tra­ven­tion of the RICS Guide­lines that is the bi­ble of the in­dus­try. Any auc­tion house car­ry­ing out this prac­tice should be re­ported to the RICS and pub­licly named and shamed.

I’m con­fi­dent that the vast ma­jor­ity of my col­leagues in the in­dus­try would agree and your ar­ti­cle Can you trust guide prices? ( CCW, 25 May) can only high­light the fact that the re­cent pro­lif­er­a­tion of ve­hi­cle sales by out­fits jump­ing on the band­wagon is built on very dodgy ground in­deed.

I echo the sen­ti­ment of Richard Hud­son-Evans - buy­ers, walk away! Talk to an auc­tion­eer be­fore bid­ding, the only things we cant tell you are the ac­tual re­serve fig­ure as that is confidential be­tween seller and auc­tion­eer, and the seller’s iden­tity.

Re­serves should al­ways be at or lower than the bot­tom es­ti­mate! Jeremy Cur­zon, Ch­effins Auc­tion­eers

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