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Author Topic:   Auctions

Posts: 7
Registered: Jul 2004

iconnumber posted 07-16-2004 04:16 AM     Click Here to See the Profile for Marian     Edit/Delete Message   Reply w/Quote
I live in England and recently have attended a local auction. There is all sorts, from old furniture to silver and pottery.
I have purchased a lot of silver and an antique bureau for the price of a loaf of bread!
What really annoys me is that there are dealers who go there and snatch the "good" silver from the little less knowledgable ones. When they discover something, they go and put a price on it, and so this is sometimes so very high no-one else has a chance to bid..... Does this sort of thing happen in the USA ??

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Posts: 418
Registered: May 2003

iconnumber posted 07-17-2004 12:42 AM     Click Here to See the Profile for adelapt     Edit/Delete Message   Reply w/Quote
The phenomenon you refer to is called either "market forces" or "the food chain". We're all in there somewhere. Whether it's fair, of course, is a matter for your own judgement. In another of your posts you sought guidance as to whether some items were "collectable". In fact, what you wanted to know was whether you could make a profit on them. If not, although you said they were "lovely", you'd have no interest in dealing with them.
The higher up dealer is acting on hard-won knowledge, maybe at a higher risk level, and is still limited by what the market will bear when it's time to sell. One could say that he/she has further to fall if judgement goes awry.
I think most of us on this forum are genuinely interested in some aspect of silverwork, are learning as we go along, and do at times pay "more" for something maybe than its current market value. That's the reason some things are of more value to some people that to others. Partly it's knowledge, partly it's the desire to own whatever it is, for whatever reason.
One could say that if you were fortunate enough to buy "a lot of silver and an antique bureau for the price of a loaf of bread" then (a) you're not doing too badly, and (b) those who pay the same money and end up with a loaf of bread may think that you're opportunistic.
In coming to this forum and asking for help to, in effect, make a profit from the knowledge freely given, and then feeling that the someone who can outspend someone else is somehow being unfair shows some sort of moral confusion!

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