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Furthermore, the auction house can prevent the agent from participating and bidding in any subsequent auctions.
The designer of an auction house, for instance, would like to make it impossible or extremely difficult for the agents to violate any of the prescribed norms.
For instance, alongside the rules of various auction protocols, an auction house should also include a list of rules that describe desirable behaviour while operating within the auction house.
For example, an auction house may withhold an agent's deposit or entry fee paid, if the agent refuses to pay for a good won in an auction.
One might even have an auction on the spot with a great auction house promoting it.
If the seller was not happy, he or she could go to another auction house.
Secondly, the buyers premium produces a serious conflict of interest for the auction house.
The only party not to have benefited to the full would have been the auction house.
Any auction house dealing in this field will need to maintain expertise in the different branches of the trade in which it deals, and such expertise is expensive.
The company claims that the facility is the largest indoor auction house in the world, capable of housing 10,000 autos and 4,000 people.
Crope is mentioned in the third part of the book as having become an actor and managing an arts auction house.
When you sell, you also have to overcome dealing charges, whether you sell to an auction house or a dealer.
This led to his departure from the auction house and a return to the trade.
Regular performances at the theatre continued until 1830, when performances became less frequent and in 1848 it was let as an auction house.
The auction house asserted that they would press on with the auction despite the legal action.
