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<p>[QUOTE="GDJMSP, post: 977558, member: 112"]marbury - have you ever read the Terms And Conditions for the European auction houses ? They say the same thing. As I said - all auction houses reserve the right to bid on any item offered in their auctions.</p><p><br /></p><p>My point is, the practice is not limited to houses in the US. Even the most respected houses in Great Britain do it.</p><p><br /></p><p>Evil or a conspiracy ? Hardly, it's just good business practice. Now if you don't understand that consider - say an item has what the house thinks is a low bid. If the house thinks that the item is not going to be bid up higher, and they believe the item is worth more than the high bid - would it not be a good idea for them to buy that item and then sell it themselves ? Is that not what any coin dealer bidding in any auction is doing ? </p><p><br /></p><p>Pretty much all auction houses are also coin dealers. So if they see a chance to get an item for a bargain price it would be foolish, bad business practice, for them not to buy it themselves.</p><p><br /></p><p>Is it evil or a conspiracy for a coin dealer to bid on item in an auction knowing full well he is going to sell that item for a profit to one of his customers ? Is it evil or a conspiracy for a collector to buy items at auction and then turn around and sell them for a profit ?</p><p><br /></p><p>No, it most definitely isn't. That is business, plain ordinary, and everyday business. That is what businesses do. They buy items and sell them at a profit.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 977558, member: 112"]marbury - have you ever read the Terms And Conditions for the European auction houses ? They say the same thing. As I said - all auction houses reserve the right to bid on any item offered in their auctions. My point is, the practice is not limited to houses in the US. Even the most respected houses in Great Britain do it. Evil or a conspiracy ? Hardly, it's just good business practice. Now if you don't understand that consider - say an item has what the house thinks is a low bid. If the house thinks that the item is not going to be bid up higher, and they believe the item is worth more than the high bid - would it not be a good idea for them to buy that item and then sell it themselves ? Is that not what any coin dealer bidding in any auction is doing ? Pretty much all auction houses are also coin dealers. So if they see a chance to get an item for a bargain price it would be foolish, bad business practice, for them not to buy it themselves. Is it evil or a conspiracy for a coin dealer to bid on item in an auction knowing full well he is going to sell that item for a profit to one of his customers ? Is it evil or a conspiracy for a collector to buy items at auction and then turn around and sell them for a profit ? No, it most definitely isn't. That is business, plain ordinary, and everyday business. That is what businesses do. They buy items and sell them at a profit.[/QUOTE]
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