Red Green and Blue recently posted an article about an activist who wrecked havoc at an auction by the Bureau of Land Management. The bidder essentially ran up the price on several tracts to knock out other bidders, while having no intent to actually purchase the properties himself.
We all have difficulties with bidding mistakes from bidders who are perhaps not well-informed as to the terms of the sale, or disruptions from bidders who are unhappy about the way an auction is being conducted. Politics aside, how would you deal with this type of economic terrorism from activists during an auction?
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I guess that is where it makes sense to require having a strong deposit in hand prior to bidding. This will ensure that any damages incurred can be made right.
I guess that is where it makes sense to require having a strong deposit in hand prior to bidding. This will ensure that any damages incurred can be made right.