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<p>[QUOTE="johnmilton, post: 4877781, member: 101855"]There are a certain number of collectors who think that they are "buying at market prices" when they go nuts in an auction. They aren't. They are in a rarified little world where a comparatively small number of people with a lot money keep pushing prices higher and higher. They think that they are “insolated” from making a bad buy because someone else is bidding against them. WRONG!</p><p><br /></p><p>Here is a recent example. This button commemorated or made fun of ** the first time a President of the United States invited an African-American to dine at the Whitehouse. In circa 1902, Theodore Roosvelt invited Booker T. Washington to dine with him. I bought this button at a political show for $3,520 which was really strong money. Somebody paid $5,250 for the same button at a recent Heritage auction. This is only one example. The hammer price was more than I paid.</p><p><br /></p><p>[ATTACH=full]1178159[/ATTACH]</p><p><br /></p><p>** I'll explain tomorrow if someone is interested.</p><p><br /></p><p>I don't know about the other major auction houses, because I've stopped bidding, but things at Heritage are really tough for collectors these days. I guess you might might argue that if everything in the world were consigned to Heritage, everything would sell for those prices. It would be an interesting experiment.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 4877781, member: 101855"]There are a certain number of collectors who think that they are "buying at market prices" when they go nuts in an auction. They aren't. They are in a rarified little world where a comparatively small number of people with a lot money keep pushing prices higher and higher. They think that they are “insolated” from making a bad buy because someone else is bidding against them. WRONG! Here is a recent example. This button commemorated or made fun of ** the first time a President of the United States invited an African-American to dine at the Whitehouse. In circa 1902, Theodore Roosvelt invited Booker T. Washington to dine with him. I bought this button at a political show for $3,520 which was really strong money. Somebody paid $5,250 for the same button at a recent Heritage auction. This is only one example. The hammer price was more than I paid. [ATTACH=full]1178159[/ATTACH] ** I'll explain tomorrow if someone is interested. I don't know about the other major auction houses, because I've stopped bidding, but things at Heritage are really tough for collectors these days. I guess you might might argue that if everything in the world were consigned to Heritage, everything would sell for those prices. It would be an interesting experiment.[/QUOTE]
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