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Bidding off the wall, or taking bids from the chandelier, as it is sometime known, is where the auctioneer bids on behalf of the vendor. This is allowed by law in some countries and states, and the auctioneer is allowed to bid on behalf of the vendor up to, but not including, the reserve price.
Chandelier or rafter bidding. This is the practice, especially by high-end art auctioneers, [138] ... and is also known as off-the-wall bidding. [140]
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Often prior to "closing the bidding" and selling an item, auctioneers will announce: "Going once, going twice, sold!" or "Going, going, gone!", followed by announcing the winning bid. Often auctioneers will stand at a lectern with a gavel, which they use to bang the lectern to end bidding on an item prior to announcing the winning bid. Slurring ...
As the new year kicked off, more buyers trickled into the housing market. According to Redfin , mortgage-purchase applications were up 3% compared to a month ago during the first week of January.
WASHINGTON (Reuters) -The Justice Department late on Wednesday asked a U.S. appeals court to reject an emergency bid by TikTok to temporarily block a law that would require its Chinese parent ...