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<p>[QUOTE=&quot;omahaorange, post: 1336937, member: 28199&quot;]We&#039;re talking about a live auction?&nbsp; Been to many over the past few years.&nbsp; First thing I noticed recently is the number of people who show up with either a Red Book, or a copy of <i>Coin World</i> magazine.&nbsp; They bid based on the prices in these publications.&nbsp; This seems especially true for any silver coins.&nbsp; This started (or so it appears to me) when silver prices started rising.&nbsp; It hasn&#039;t let up yet.&nbsp; I noticed people were willing to pay well above melt value at these auctions for the chance to buy silver.&nbsp; Noticed it with jewelry as well.&nbsp; Used to be the best auctions to attend were the ones where the majority of bidders were dealers, you know if you beat them, you got a fair price (none bid over what they can make money on).</p><p><br /></p><p>Second, don&#039;t forget about &quot;Auction Fever&quot;.&nbsp; Many people get wrapped up in the bidding, and simply have to win the item.&nbsp; Again, not limited to coins.</p><p><br /></p><p>Are these actually friends, or just aquaintances you met through the auctions?&nbsp; I have several aquaintances I&#039;ve met through these venues, but would not call them friends.&nbsp; Many are dealers.&nbsp; They are a source of good advice, and good casual conversation.&nbsp; Are the people you refer to collectors, or &quot;investors&quot;?</p><p><br /></p><p>I won&#039;t go into some of your other posts, but will offer this advice.&nbsp; When attending an auction (or participating in one on-line) make sure you read the terms and conditions before you bid, as this constitutes a &quot;contract&quot; between you and the auctioneer.&nbsp; Know what you want before you go, research the items, and preview them prior to the start of the auction.&nbsp; Set a price you are willing to pay, and don&#039;t bid over that price.&nbsp; And remember, there are no &quot;friends&quot; at an auction.&nbsp; They are all there for the same reason you are.&nbsp; To pick up items at bargain prices.&nbsp; The definition of &quot;bargain&quot; will, however, differ between bidders.[/QUOTE]</p><p><br /></p>

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