I see, but it is actually risky business, what if the "crazy" guy stops raising offers (for whatever reasons, let's say because he is struck by a lightning) and

I see, but it is actually risky business, what if the "crazy" guy stops raising offers (for whatever reasons, let's say because he is struck by a lightning) and you win the auction with a bid of - say - 2,400,000 dollars? I don't know how exactly offerers are "checked" or "validated" by Christie's in these kind of auctions, but there should be some process of some kind - particularly for telephone bidders - of checking identity and financial capabilities. Or anyone can offer crazy amounts of money and then retire the offer without consequences?