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I suspect there is some leverage when negotiating to allow someone to sell your Singer. The auction house makes a healthy profit if it sells, and they lose very little if it doesn't sell. A Singer lot attracts a lot of bidders to the auction. I suspect with many auction houses a reserve is essentially negotiated, even though the auction is typically represented as having no reserves and being an absolute auction.
If the Singer actually sold, I would think the auction house would have posted the realized price with all the other lots that sold. If it did not sell and they posted the results stating it did sell...well, that might be considered by some to be a misrepresentation of the facts.
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Well, there certainly is conflicting information on the RIA web site. The item is listed as sold if you look at the catalog listing. When you look at the prices realized pdf, there is no listing for that item #. I want to think the sale did not happen for legitimate reasons... but I will still think twice before bidding again.
