Word: bidding
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Dates: during 1990-1999
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...developer bought the park for $800,000 in a "sealed bid" process, meaning that bidders submitted concealed bids to the real estate agent, and the highest bidder got the property...
Under the sealed bid process, no consideration was given to who the new owner would be, or what the owner would do with...
While the city made a last-ditch bid for the property, they were not able to compete with developers' offers...
When the lot was put up for sale, the minimum bid was set at $650,000. Between March 7 and 10, the city tried once more to stop the sale and make a deal with the broker, Valente and the neighborhood. The council spoke with two environmental organizations, the Trust for Public Land and the Executive Office of Environmental Affairs Division of Conversation Services, as it formed a plan of action...
...with amateurs who wouldn't know Caravaggio from formaggio. Peter Woolman, a British antiques dealer in Delray Beach, Fla., is one such frustrated buyer. "It's full of fakes," he complains. He recently flew to Texas to pick up a pair of bronze and ivory statues for which he bid $26,000, only to discover at a glance that they were knockoffs. "The sellers said they didn't know much about what they were selling ...All I can say is, it's better odds in a Las Vegas casino...