At Holt's, as I understand the process, when I place my bid it becomes a maximum bid, not an automatic bid at that price that can be used to start the bidding. What I don't understand is this, If I were to place a bid at Holt's and, when the bidding opened, there were no other bids, what would Holt's use as the opening bid, the low estimate, the high estimate ......... ?????

Perhaps someone here knows the answer firsthand?

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