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<p>[QUOTE=&quot;900fine, post: 684048, member: 6036&quot;]Yes yes yes. Just wow.</p><p>&nbsp;</p><p>And here it is... the world&#039;s first $1 million copper :</p><p>&nbsp;</p><p><a href="http://www.mkjassociates.com/cgi-bin/ilgvulot.pl?site=1&amp;sale=54&amp;lot=128" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.mkjassociates.com/cgi-bin/ilgvulot.pl?site=1&amp;sale=54&amp;lot=128" rel="nofollow">http://www.mkjassociates.com/cgi-bin/ilgvulot.pl?site=1&amp;sale=54&amp;lot=128</a></p><p>&nbsp;</p><p>Makes for interesting reading, eh ?</p><p>&nbsp;</p><p>Note : the final hammer quadrupled the auctioneer&#039;s estimate.</p><p>&nbsp;</p><p>To get a feel for how things were going, I tabulated hammer prices during the auction and compared to auctioneer&#039;s estimate. Since this was during the &quot;heat of battle&quot;, I couldn&#039;t do &#039;em all.</p><p>&nbsp;</p><p>I found that 86% of the lots exceeded the estimate. The total dollar value was 71% above estimate. This helped me estimate what a winning bid would be. It showed my pre-auction bids were smoked. Action required !</p><p>&nbsp;</p><p>Now that all figures are in, I will do that analysis for the entire sale of 571 lots.[/QUOTE]</p><p><br /></p>

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