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Example: In Lot 2 of the Snider auction, the estate liquidator bid $1,300 for the green sofa. Here are the bids submitted by Steve, Bob, and Mary:
Steve wins the Jaeger painting for $3,500. Bob wins the violin for $9,900. Mary wins the Ford SUV for $8,000 and the large TV for $400. The estate liquidator gets the green sofa for the reserve price of $1,300. Here's the payments account for all of the items in Lot 2:
Here are the updated share accounts for Steve, Bob, and Mary:
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Copyright © 2004 Lori Alden. All rights reserved.
