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Buying At Auction: 6 Hints to Make You a Successful Bidder


Buying at auction, be it for stamps or coins, antiques or even cattle, can be one of the most exciting and profitable experiences possible. It can also be expensive and utterly frustrating. The best way to come out ahead is to learn the tricks of the trade early. Here are some suggestions that should help you get on the fast track to success.

(1) Do your research. Knowledge is your most important tool, even more important than money.

(2) Learn how to be inconspicuous.

(3) Beware of zombies, shills and lunatics. The best way to avoid them is

(4) Hire an agent.

(5) Be selective. Don't be afraid to spend the extra dollar when something especially rare or in exceptional condition comes your way. You may never get another chance.

To elaborate:

(1) Every experienced buyer knows how important knowledge is. Questions of authenticity, condition, and rarity are always the key considerations. If you are fortunate enough to have both knowledge and money, you have the world by the tail. But even if you have limited funds you can still do very well if you know something the rest of the potential buyers don't.

(2) Once you have spotted something you want to buy, fade into the woodwork as much as possible. The last thing you want to do is attract attention to yourself or the lot you are interested in. After you've been around long enough, your competition will find out who you are. Until then try to keep as low a profile as possible and guard your information. Use a code system to keep track of your limits. I'm constantly amazed at how careless some bidders are with their auction catalogs and what they write in them.

(3) Zombies, shills and lunatics are every auction bidder's nightmare. If a zombie knows who you are, he/she will follow your every move. Their motto is: if that person is willing to spend a hundred dollars for a lot, I sure can afford to spend a hundred and ten. Most people know what a shill is. It is someone working for the auction house or seller who artificially pushes up prices by bidding against you. In order for an item to get a good price, two or more bidders must be interested in it. Shills are especially skilled at figuring out how high you are willing to go. Lunatics are the ones who absolutely have to have a lot and will bid whatever it takes to win it. The best way to deal with these three worthies is to hire an agent to bid for you.

(4) Agents are professionals who have developed skills at bidding at auction. One famous New York stamp auction agent was so skilled at hiding his bids that only the auctioneer and a few other people ever knew how he did it. As strange as it may sound, paying an auction agent the extra 2-5% fee may save you many hundreds of dollars or more in the long run. The zombies, shills and lunatics won't know who is bidding against them.

(5) Finally, one of the most important skills of all is the ability to recognize when to open up the purse strings. Condition and rarity are the two most important determinants of price. The exceptional item is always worth an extra bid or two. One customer who was examining my stamps at a national stamp show remarked, "I've been looking for this one for more than 40 years and you have a very nice copy. But I never pay more than half catalog for anything." I wished him well. It was a scarce stamp and I expect he'll still be looking if he lives another 40 years.

To summarize: knowledge is the primary key to success at auction bidding. Secondly, develop your skills as a bidder and buyer. Then, learn to recognize the individuals you will have to deal with on the auction floor. Cross them up and use and agent. And finally, know when to pay a premium for the exceptional item.

Best of luck!

John Anderson has been bidding at auction for more than forty years and has purchased hundreds of stamps, antiques and collectibles that way. Now semi-retired from stamps he is a full-time writer. His first novel, The Cellini Masterpiece, was published under the pseudonym of Raymond John. He is now hard at work on his second, and an auction plays an important role in the plot. If you would like to contact John or read the first chapter of The Cellini Masterpiece, please log on at: http://www.cmasterpiece.com


TODAYS NEWS BY OFFICEJAX FREE ADVERTISING AND AD EXCHANGE SOLUTIONSMORE RESOURCES updated Sun. June / 16 / 2019

Babe Ruth jersey sells for record $5.64 million at auction - Newsday
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  2. Babe Ruth jersey breaks world record, selling for $5.6 million in auction  Baltimore Sun
  3. Babe Ruth's jersey sold at auction for a record-breaking $5.6 million  CNN
  4. Babe Ruth's Road Jersey Sells at Auction for $5.64 Million  Hollywood Reporter
  5. Babe Ruth road jersey sells at auction for $5.6 million  Sacramento Bee
  6. View full coverage on Google News

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On June 16, 1929, the Syracuse Stars were sold and left town, leaving the city without a baseball team.


KAR Auctions Services To Spin Off Insurance Auto Auctions on June 28 - Forbes
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On June 5, 2019, KAR Auctions Services announced that separation of IAA Spinco has been approved. Distribution date will be on June 28, 2019. Spin-Off ...


Exclusive: Mexico to cancel October auctions for Pemex joint ventures - sources - Reuters
Exclusive: Mexico to cancel October auctions for Pemex joint ventures - sources  Reuters

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US Government Auctions Off Palm Beach Home Owned by Former Venezuelan Treasurer Alejandro Andrade - Miami New Times
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Auction Houses Wright and Rago to Merge - - ARTnews
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Auction calendar: June 14, 2019 - Wisconsin State Farmer
Auction calendar: June 14, 2019  Wisconsin State Farmer

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Citigroup Suspended From Japan Bond Auctions on Manipulation - Bloomberg
Citigroup Suspended From Japan Bond Auctions on Manipulation  Bloomberg

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Government's auction of confiscated real estate set for June 23 - Mexico News Daily
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Mexico's CNH cancels Pemex onshore farmout auctions - S&P Global Platts
Mexico's CNH cancels Pemex onshore farmout auctions  S&P Global Platts

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Burt Reynolds' belongings up for auction this weekend - WPTV.com
Burt Reynolds' belongings up for auction this weekend  WPTV.com

Hundreds of items belonging to the late actor Burt Reynolds will go up for auction this weekend.


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The art auction boom in figures - FRANCE 24
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How Google is rewriting the rules of ad auctions  AdAge.com

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Guinness-Record Organic Whisky Available At Hong Kong Auction  Forbes

International auction house Spink will sell a full cask of rare organic Springbank Scotch whisky tomorrow.


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Black students were cast as slaves in New York teacher's mock 'auctions,' state finds  NBCNews.com

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14th-Century Spanish Estate, With a Chapel, Near Barcelona Heads to Auction - Mansion Global
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T-Mobile spends big at FCC mmWave spectrum auctions - Business Insider  Business Insider

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Very First Published Tintin Cover Sold for $1.12 Million at Heritage Auctions - Fine Books & Collections Magazine
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AG: At least 115 victims defrauded of $1.04 million by Freeville auction house  Ithaca Journal

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What Buyers Must Know About Google’s Auction Updates: A Publisher’s Perspective  AdExchanger

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Tintin original cover art bought at auction for more than $1 million - CNN
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AT&T, T-Mobile Are Top Spenders in Airwaves Auction  The Wall Street Journal

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Burt Reynolds' Belongings Up For Auction - NPR
Burt Reynolds' Belongings Up For Auction  NPR

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Apollo 11 items up for auction in Amherst - WMUR Manchester
Apollo 11 items up for auction in Amherst  WMUR Manchester

Fifty years ago, the world's attention was aimed at the skies as people first walked on the moon, and a local auction house is offering the chance to buy a piec...


Police auction gives stolen and abandoned items new life - KSNB Local 4
Police auction gives stolen and abandoned items new life  KSNB Local 4

Dozens of people brought their auction paddles to bid on items the Kearney Police Department have been collecting from various cases.


EU approves Italy's auction scheme for renewables incentives - pv magazine International
EU approves Italy's auction scheme for renewables incentives  pv magazine International

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EU Court of Auditors says more renewables auctions are needed - pv magazine International
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Three landmark scientific artifacts go to auction this week - New Atlas
Three landmark scientific artifacts go to auction this week  New Atlas

This week looks like being the most spectacular of the scientific auction year with three landmark auctions of scientific documents and specimens crossing the ...


Silent auction fundraiser held for Owen Jones - wlfi.com
Silent auction fundraiser held for Owen Jones  wlfi.com

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St. Francis School campus-wide auction begins June 17 - KHON2
St. Francis School campus-wide auction begins June 17  KHON2

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Citi's Japanese Unit Faces Ban From Auction Participation - Yahoo Finance
Citi's Japanese Unit Faces Ban From Auction Participation  Yahoo Finance

The Ministry of Finance in Japan has suspended Citigroup's C Japanese unit, namely Citigroup Global Markets, from availing special entitlements granted to ...


'TinTin' artwork sells for $1.1 million at auction - Deutsche Welle
'TinTin' artwork sells for $1.1 million at auction  Deutsche Welle

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Buffett Charity Lunch Auction Opens on eBay With $25,000 Bid - Bloomberg
Buffett Charity Lunch Auction Opens on eBay With $25,000 Bid  Bloomberg

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Ericsson Blames Pricey Mobile Auctions for Crippling Europe's Tech Sector  Light Reading

One of Ericsson's top executives says Europe's habit of running costly spectrum auctions is partly to blame for the region's failure to produce any billion-dollar ...


NDDOT to add online vehicle auctions - KFYR-TV
NDDOT to add online vehicle auctions  KFYR-TV

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Fredericksburg to have plan for moving controversial slave auction block by July 9  Fredericksburg.com

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Huntsville City Schools vehicle auction through June 16 - rocketcitynow.com
Huntsville City Schools vehicle auction through June 16  rocketcitynow.com

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Nazi Code-Making Enigma Machine Is Up for Auction - Live Science
Nazi Code-Making Enigma Machine Is Up for Auction  Live Science

A rare Enigma machine — a German gadget that encoded secret messages during World War II — is up for auction. The device is unique, even among Enigma ...


IRS auctions: Your chance to take home the gold - Concord Monitor
IRS auctions: Your chance to take home the gold  Concord Monitor

A New Hampshire nutritionist who allegedly filed no federal tax returns for five years and tried to hide assets such as his homes by selling them to himself in ...


New York Private School Teacher Held Mock Slave Auction: State AG - HuffPost
New York Private School Teacher Held Mock Slave Auction: State AG  HuffPost

A private school in Westchester County, New York, was investigated by the state attorney general's office amid allegations a teacher conducted a mock slave ...


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Egypt Tries to Halt the Auction of a King Tut Sculpture Amid Accusations That It Could Have Been Looted  artnet News

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Einstein's childhood toy up for auction - The Jerusalem Post
Einstein's childhood toy up for auction  The Jerusalem Post

Every parent wants their child to grow up to be a genius. But how many can say they gave their son or daughter the same toy Albert Einstein played with as a kid ...


Hub City cattle auction results | Markets - High Plains Journal
Hub City cattle auction results | Markets  High Plains Journal

The Hub City Livestock Auction, Aberdeen, South Dakota, reported receipts of 4898 head of cattle selling June 12, compared to 2594 head the previous week ...


Have stuff to sell because of downsizing, divorce or death? An estate sale or auction could be your answer. - Washington Post
Have stuff to sell because of downsizing, divorce or death? An estate sale or auction could be your answer.  Washington Post

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Guitar collection of Pink Floyd's David Gilmour to go to auction - UPI News
Guitar collection of Pink Floyd's David Gilmour to go to auction  UPI News

Christie's in New York plans to auction more than 120 guitars in the personal collection of Pink Floyd great David Gilmour later this month.


The Subtle Psychology of Auction Fever - The Wall Street Journal
The Subtle Psychology of Auction Fever  The Wall Street Journal

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CBA proposes FUEL auction process for C-band - FierceWireless
CBA proposes FUEL auction process for C-band  FierceWireless

The CBA insists its proposal is the fastest, most efficient way to transition mid-band spectrum to terrestrial 5G *service*. (Pixabay). Share Facebook Twitter ...


'Barn find' toy car sells for thousands at auction - Fox News
'Barn find' toy car sells for thousands at auction  Fox News

Few things stir collectors into a frenzy more than a “barn find” car. Even if it has pedals, apparently. An Austin Junior A40 toy car from the 1950s that was recently ...


Holland mansion going to auction with no minimum bid required - Detroit Free Press
Holland mansion going to auction with no minimum bid required  Detroit Free Press

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Namibia forced by drought to auction 1,000 wild animals - The Guardian
Namibia forced by drought to auction 1,000 wild animals  The Guardian

Drought-hit Namibia has authorised the sale of at least 1,000 wild animals – including elephants and giraffes – to limit loss of life and generate US$1.1 million for ...


Pemex Partner Auction Canceled | OilPrice.com - OilPrice.com
Pemex Partner Auction Canceled | OilPrice.com  OilPrice.com

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Babe Ruth jersey could set new auction record - Newsday
Babe Ruth jersey could set new auction record  Newsday

Babe Ruth is not necessarily through setting records. On Saturday, he will try to break one of his own when a game-worn Yankees road jersey from the late ...


Online Auction Platform Dropit Combines The Excitement Of Gaming With Retail - Forbes
Online Auction Platform Dropit Combines The Excitement Of Gaming With Retail  Forbes

DropIt is an online platform for 60-second reverse auctions, where prices start high and ratchet lower in one second increments. Founders, co-chief executives ...


Gun that likely killed Vincent van Gogh goes on auction - New York Post
Gun that likely killed Vincent van Gogh goes on auction  New York Post

The gun is expected to fetch up to $67000 when it goes up for sale on June 19.


Dawnus auction raises over £5m - BBC News
Dawnus auction raises over £5m  BBC News

More than £5m has been raised at an auction selling off equipment owned by collapsed construction firm Dawnus. More than 2,000 people across the globe ...


Painting attributed to Caravaggio on display before auction - Dayton Daily News
Painting attributed to Caravaggio on display before auction  Dayton Daily News

Visitors on Friday were given one last chance to admire a 400-year-old painting found in an attic in southern France and attributed to Italian master Caravaggio, ...


Oregon Ranch With Own Airstrip in a National Forest Heads to Auction - Barron's
Oregon Ranch With Own Airstrip in a National Forest Heads to Auction  Barron's

A sprawling Oregon ranch with its own private airstrip is headed to auction next month without reserve. Known as Illahee Ranch, the estate spans more than 77 ...


Bumper prediction: Big Sydney auction results warm the future winter market - Domain News
Bumper prediction: Big Sydney auction results warm the future winter market  Domain News

While hopes were high for many buyers, auction numbers still remained low over the weekend in Sydney as the weather turned cold and bleak. There were 471 ...


Moe Howard memorabilia auction has something for every wise guy - TribLIVE
Moe Howard memorabilia auction has something for every wise guy  TribLIVE

If you're a Three Stooges fan, why, you oughta … check out the “Personal Collection of Moe Howard,” a special five-day online auction June 24-28 presented by ...


Tales from the Oak Park Police Impound Auction - Oakland County 115 News
Tales from the Oak Park Police Impound Auction  Oakland County 115 News

Tales from the Oak Park Police Impound Auction. (Crystal A. Proxmire, June 9, 2019). Oak Park, MI- A morning of auctioning off vehicles impounded by police is ...


State fleet vehicle auctions in North Dakota now allow online... - Jamestown Sun
State fleet vehicle auctions in North Dakota now allow online...  Jamestown Sun

BISMARCK — The North Dakota Department of Transportation has announced that state fleet vehicle auctions will now have an online bidding opportunity for ...


Annual Houston County surplus auction is coming up. Here’s what’s for sale. - Macon Telegraph
Annual Houston County surplus auction is coming up. Here’s what’s for sale.  Macon Telegraph

Want a fire truck, a cheap ride or some oddity owned by Houston County? Check out the county's surplus auction June 6. A 1987 Ford Firetruck with 42,494 ...


Oleg Cassini Estate Auction: A Close-up of the Designer’s Life, Career and Collection - WWD
Oleg Cassini Estate Auction: A Close-up of the Designer’s Life, Career and Collection  WWD

One of the most alluring offerings of the auction are the detailed letters, notes and sketches that the former first lady exchanged with the designer to craft her ...


Kurt Cobain pizza-soaked setlist plate sells for $22,000 at auction - Alternative Press
Kurt Cobain pizza-soaked setlist plate sells for $22,000 at auction  Alternative Press

One Nirvana fan just bought a used paper plate that frontman Kurt Cobain ate pizza off of once for $22,000. The sale took place at an auction put on by Julien's ...


James Bond's Aston Martin From Goldfinger to Go up for Auction for an Estimated $4 Million Plus - Comicbook.com
James Bond's Aston Martin From Goldfinger to Go up for Auction for an Estimated $4 Million Plus  Comicbook.com

It's one of the great iconic cars of movie history, the Aston Martin DB5 driven by Sean Connery's James Bond in both Goldfinger and Thunderball and if you've ...


Bring A Trailer Auctions Mercedes-Benz 300SL Gullwing for "White Glove" Service Launch - HYPEBEAST
Bring A Trailer Auctions Mercedes-Benz 300SL Gullwing for "White Glove" Service Launch  HYPEBEAST

Car collection auction platform Bring A Trailer has announced two new premium services titled “Plus” and “White Glove.” The auction company takes its Classic ...


Small North Texas Firm Wins Auction for Lee Sculpture in Dallas | Texas Lawyer - Law.com
Small North Texas Firm Wins Auction for Lee Sculpture in Dallas | Texas Lawyer  Law.com

A small firm near Dallas won an auction for a controversial sculpture, agreeing to pay more than $1.4 million to the city of Dallas for Robert E. Lee and the ...


Rare Books &c. at Auction This Week - Fine Books & Collections Magazine
Rare Books &c. at Auction This Week  Fine Books & Collections Magazine

Five auctions to watch this week: At ALDE in Paris on Tuesday, May 28, Reliures Originales & Livres Illustrés Modernes, in 343 lots. Rating the top estimate is a ...


Who Were the Breakout Stars of New York’s Spring Art Auctions? We Crunched the Numbers to Find Out - artnet News
Who Were the Breakout Stars of New York’s Spring Art Auctions? We Crunched the Numbers to Find Out  artnet News

Data shows which new entrants to Christie's, Sotheby's, and Phillips contemporary sales sparked the fiercest bidding in New York.


'Philosopher's Stone' Hardback With Daniel Radcliffe's First Autograph Up for Auction! - The-Leaky-Cauldron.org - The Leaky Cauldron.org
'Philosopher's Stone' Hardback With Daniel Radcliffe's First Autograph Up for Auction! - The-Leaky-Cauldron.org  The Leaky Cauldron.org

BigNews, Books, Coltrane, Columbus, Fandom, Fans, Felton, Films, Grint, Harry Potter and the Philosophers / Sorcerers Stone, Movies, News, Potter News, ...


DNR surplus auction in New Ulm | Local - Crow River Media
DNR surplus auction in New Ulm | Local  Crow River Media

Pick-ups, boats, UTVs and other items will be for sale during a public auction of surplus equipment held by the Minnesota Department of Natural Resources.


‘Substantial’ Lock of Beethoven’s Hair Heads to Auction - Rolling Stone
‘Substantial’ Lock of Beethoven’s Hair Heads to Auction  Rolling Stone

A lock of Ludwig van Beethoven's hair, which the composer cut off himself and gave to a pianist in 1826, will hit the auction block this Tuesday. Sotheby's will ...


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