In an auction if the result was $100,000 but it actually sold for $65,000 then what does result mean?

[Anonymous]

[msmissydc]

There are different Methods of auctioning. I dont know their names but one works like ebay:
1. you can bid your highest bid. And you need to at least top the highest by a set ammount butmyoumonly pay what the second highest bidder did bid. So in this case 100.000 was the highest bid but it was only 65.000 paid because that was the highest bid of the second highest bidder
2. There is also a weird and probably rare auction. That works the following way: each person has to pay to increase his bid. Its allways a set new ammount. And the last person that paid is the winner. But everyone else paid too. So in this case. It was maybe 5k new bids and the winner did pay 65k but the auction house made 100k in the process.
There are more different ways or variations of this but the bidding structure and method could cause this discrepancy. I dont know thic special case so I am not sure if this is the case in you question but a possible answer if you generalize the problem.

[Goforit1010]

Most likely, the buyer discovered/saw something that made them question the quality or the authenticity of what they were buying. The seller agreed to a lower price on the spot and allowed the sale.

[Pyrofox]

The appraiser 3rd party probably gave proof that it was 35K over priced and talked the owner to lower the offer down. Most people just want money atm.

[Wise4myage]

Someone got a great deal?

[Asker]

Why is result 100k though?

[Wise4myage]

Good question.