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I bought a listed home for $207k a few years ago, which was their asking price. It presented well and to me was good value. In fact, if they had of been asking for $220,000 i probably would have paid that amount as it was still a bit lower than what the area was generally. Perhaps given your...

If you set a reserve that you're happy with then theres no reason why you should leave your auction dissatisfied. I think some of the examples you cite are stupid. I could easily raise an hypothetical counter arguement that makes his suggestion redundant.