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<p>[QUOTE=&quot;dougsmit, post: 2786484, member: 19463&quot;]I see this statement as needing two slight modifications:</p><p>&quot;The <span style="color: #ff0000">informed</span> buyer, <span style="color: #0080ff">for whom cost is a consideration,</span>&nbsp; bases his/her maximum bid on the hammer price plus associated fees.&quot;</p><p><br /></p><p><span style="color: #ff0000">Red:</span> Any sale will have some (few/many?) bidders who do not understand or allow for the fees.</p><p><br /></p><p><span style="color: #4da6ff">Blue:</span> Some bidders simply do not care what something costs, it is just necessary to obtain what they want.&nbsp; Today, my wife paid $1.49 for a lunch item that was $1.19 last week.&nbsp; That $.30 increase was a large to us as an additional $3 million would be to a multi billionaire individual or museum representative bidding with benefactor funds.&nbsp; The old saying is, &quot;If you have to ask, you can&#039;t afford it.&quot;&nbsp; How many lots are purchased by those who had no reasonable limit?[/QUOTE]</p><p><br /></p>

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