Shapiro

Unprofessional – 1. SH238 Session II - Fine Jewellery, Watches and Luxury Design AUCTIONTuesday 22 August 2023 2:00 pm was billed as a Timed Online Auction. 2. In summary, it’s not clear the vendors necessarily achieved the best results for lots affected by known system glitches with the platform ,nor that purchasers had a reasonable opportunity to purchase in an… Read more

online auction. 3. On the day a number of lots. including those pictured below, could not be bid on online, due to what was described as a glitch with the platform Invaluable (see attached) . 4. Usually in these circumstances, most Auction houses would either withdraw the affected lots in fairness to both vendors and would-be-purchasers, or alternatively reschedule the Auction for those lots. 5. I rang and was told that the auction of all affected lots was going ahead, and so I sent Absentee Bids in prior to the Auction ending,and was told those Bids were received. 6. After the Auction -the Results showed that Lots 374 and 375 were passed ,however the succeeding two lots were sold at the minimum bid, despite the fact any would be purchasers were actually unable to enter higher bids. This might be of concern to a Vendor. 7. On calling, I was sent an email below saying the Auction house was conducting a ‘blind auction” and the highest bid received by 5pm that day would win the lots. 8. Both my bids were acknowledged in writing and I was told bidders would be notified of the result. I stayed on the phone just before 5pm (despite protests from the auction admin) to ensure that my bid on Lot 374 was not outbid but did not hear back on my other bid on Lot 375. 9. Next day, on picking up I was told that Lot 375 was unsold and the reserve was $300. I agreed to buy that lot at reserve 10. When I went to pay, an admin came down said she had sold the lot for $260 (ie under what i was told was the reserve) to another bidder - despite the fact that I had an existing bid for this amount lodged the day of the auction and acknowledged by the auction house both on the day and by email next day.Further this sale had not been recorded in their system . 11. Not a high degree of professionalism was shown and food for thought for would be vendors and purchasers.