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<p>[QUOTE=&quot;IdesOfMarch01, post: 4798727, member: 39084&quot;]Let me take the time to point out a situation regarding dealers bidding at auctions that may reasonably contradict your thinking.</p><p><br /></p><p>I do not personally bid at auctions.&nbsp; Rather, I have my dealer -- the same dealer who advised Mike Gasvoda on his collection and was extensively praised by Mike in an NAC catalog from a few years ago -- view the coins in which I&#039;m interested prior to each auction and bid for me.&nbsp; Should the auction house prevent my dealer from bidding for me?&nbsp; Should they require him to bid only for his clients and not for his own inventory?&nbsp; If so, how do they enforce this provision?</p><p><br /></p><p>More than once, my dealer has been at an auction and purchased a coin, on speculation, that he thought would be appropriate for my collection, for which I subsequently paid him.&nbsp; How could I have acquired this coin if my dealer had been prevented from bidding on it?</p><p><br /></p><p>My dealer also represents and bids for other clients as well, and occasionally acquires coins for his own inventory.&nbsp; By combining these activities he can attend auctions in person and lower the commission he charges me since his expenses are spread among other collectors at the same time.</p><p><br /></p><p>From time to time I purchase coins from dealers who themselves purchased those coins at an auction.&nbsp; I pay a markup for these coins but am glad to do so, since I myself didn&#039;t spot these coins at their respective auctions and otherwise might have missed the chance to acquire them.</p><p><br /></p><p>I see no logic whatsoever in preventing dealers from bidding at auctions.[/QUOTE]</p><p><br /></p>

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