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It sold for $630,000 in 2007, but bidding failed to meet reserve in 2010.
That amount does not include a block for which bidding failed to meet the reserve price.
Phillips bought market share, mainly by giving sellers lavish guarantees, promises to buy items at pre-agreed prices if the bidding failed to go high enough.
Phillips aggressively bought market share, mainly by giving sellers lavish guarantees, promises to buy their art at a pre-agreed price if the bidding failed to go high enough and so won the sales of many coveted collections that would otherwise have gone to Christie's or Sotheby's.
In the event that competitive bidding failed to bring down spending growth, Wyden-Ryan would cap the growth of Medicare spending to nominal GDP plus one percent (a calculation that includes inflation).
Though bidding failed to meet expectations, $38 million sets a new high for a classic car market that has surged in recent years.
Similar(54)
If bidding fails to meet the reserve, the auctioneer may withdraw the property without accepting the highest bid.
Her 1925 bid failed.
That presidential bid failed to materialise.
That bid failed, however, making only $100,000.
Only after the bid failed did they look to sell.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com