Several of my buddies and I were talking about the buyers penalty. Among our group of friends in the discussion was an auctioneer that specializes in collectibles auctions. He said the only reason his firm charged the BP was because his competitors had gone to it so his firm needed to follow suit. I looked him square in the eye and said I thought his company would want to be a leader in the industry, not a follower. He got real quiet. I didn't press the issue any farther because he's a good guy and a friend. Sometime after that his boss was complaining that the concession company at the location of one of his traveling auctions had charged him $3 for a bottle of water. He said, I swear it was only supposed to be $2. I said it is, the other dollar was your buyers premium. He looked stunned for a second then busted out laughing.
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Today's Featured Article - What Price Enthusiasm? - by Anthony West. Quite frankly, for some time now restorers like myself have become more and more concerned about the rapid increase in the prices of old farm machines here in England. There is now a growing market for "As found" machines. Which as machines get rarer, has found the birth of a new industry....one of the "procurement agent". These agents appropriate as much old machinery as possible then inflate prices at auctions. So at what price enthiusiasm? We are now seeing poor machines which 3 years ago ma
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