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That amount does not include a block for which bidding failed to meet the reserve price.
First, they worry about an "arms race" in which bidding for plants does not increase national output because the plants would have located somewhere in the country anyway.
Last year, during a slowdown preceding the Sept. 11 attack, industry professionals said the situation was manageable, following an overheated rental market in which bidding wars were commonplace.
That was because the German regulator, the Bundesnetzagentur, chose a more traditional format, the simultaneous multiround ascending auction, in which bidding proceeds in linear fashion until the highest offer wins.
The item, for which bidding begins at $50,000, is one of many that have been cast over the years, owing to oxidation of the bronze caused by it being touched by visiting fans.
The episode on Monday, in which bidding started at a quarter and was propelled by hints that the painting was by the modern master Richard Diebenkorn, sheds light on the exponential growth of chicanery and fraud in Internet auctions, where tens of millions of people spend billions of dollars a year for everything from modern art to stuffed zebras.
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The other bidders were the Jet Acquisitions Group, an investor group in Scottsdale, Ariz., which bid $889 million; Global Airlines, which bid $450 million; the TWA Acquisitions Group, which is financed by Carl C. Icahn, a former T.W.A. chairman, which bid $650 million; and Galileo, which bid $220 million for WorldSpan.
The biggest winner was Verizon Wireless, which bid almost $9 billion.
The Nigerian government defended its decision to award an offshore oil field to Chevron, which bid $60 million, and not Royal Dutch/ Shell, which bid $200 million.
Martin Broughton, the club chairman, did not say which bid the board would accept.
Tishman Speyer remains, as does Extell Development Company, which bid without an anchor tenant.
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CEO of Professional Science Editing for Scientists @ prosciediting.com