| Buying at auction, be it for stamps or coins, antiques | | | | an item to get a good price, two or more bidders |
| or even cattle, can be one of the most exciting and | | | | must be interested in it. Shills are especially skilled at |
| profitable experiences possible. It can also be | | | | figuring out how high you are willing to go. Lunatics |
| expensive and utterly frustrating. The best way to | | | | are the ones who absolutely have to have a lot and |
| come out ahead is to learn the tricks of the trade | | | | will bid whatever it takes to win it. The best way to |
| early. Here are some suggestions that should help | | | | deal with these three worthies is to hire an agent to |
| you get on the fast track to success.(1) Do your | | | | bid for you.(4) Agents are professionals who have |
| research. Knowledge is your most important tool, | | | | developed skills at bidding at auction. One famous |
| even more important than money.(2) Learn how to | | | | New York stamp auction agent was so skilled at |
| be inconspicuous.(3) Beware of zombies, shills and | | | | hiding his bids that only the auctioneer and a few |
| lunatics. The best way to avoid them is(4) Hire an | | | | other people ever knew how he did it. As strange as |
| agent.(5) Be selective. Don't be afraid to spend the | | | | it may sound, paying an auction agent the extra |
| extra dollar when something especially rare or in | | | | 2-5% fee may save you many hundreds of dollars or |
| exceptional condition comes your way. You may | | | | more in the long run. The zombies, shills and lunatics |
| never get another chance.To elaborate:(1) Every | | | | won't know who is bidding against them.(5) Finally, |
| experienced buyer knows how important knowledge | | | | one of the most important skills of all is the ability to |
| is. Questions of authenticity, condition, and rarity are | | | | recognize when to open up the purse strings. |
| always the key considerations. If you are fortunate | | | | Condition and rarity are the two most important |
| enough to have both knowledge and money, you | | | | determinants of price. The exceptional item is always |
| have the world by the tail. But even if you have | | | | worth an extra bid or two. One customer who was |
| limited funds you can still do very well if you know | | | | examining my stamps at a national stamp show |
| something the rest of the potential buyers don't.(2) | | | | remarked, "I've been looking for this one for more |
| Once you have spotted something you want to buy, | | | | than 40 years and you have a very nice copy. But I |
| fade into the woodwork as much as possible. The | | | | never pay more than half catalog for anything." I |
| last thing you want to do is attract attention to | | | | wished him well. It was a scarce stamp and I expect |
| yourself or the lot you are interested in. After you've | | | | he'll still be looking if he lives another 40 years.To |
| been around long enough, your competition will find | | | | summarize: knowledge is the primary key to success |
| out who you are. Until then try to keep as low a | | | | at auction bidding. Secondly, develop your skills as a |
| profile as possible and guard your information. Use a | | | | bidder and buyer. Then, learn to recognize the |
| code system to keep track of your limits. I'm | | | | individuals you will have to deal with on the auction |
| constantly amazed at how careless some bidders are | | | | floor. Cross them up and use and agent. And finally, |
| with their auction catalogs and what they write in | | | | know when to pay a premium for the exceptional |
| them.(3) Zombies, shills and lunatics are every auction | | | | item.Best of luck!John Anderson has been bidding at |
| bidder's nightmare. If a zombie knows who you are, | | | | auction for more than forty years and has purchased |
| he/she will follow your every move. Their motto is: if | | | | hundreds of stamps, antiques and collectibles that |
| that person is willing to spend a hundred dollars for a | | | | way. Now semi-retired from stamps he is a full-time |
| lot, I sure can afford to spend a hundred and ten. | | | | writer. His first novel, The Cellini Masterpiece, was |
| Most people know what a shill is. It is someone | | | | published under the pseudonym of Raymond John. He |
| working for the auction house or seller who artificially | | | | is now hard at work on his second, and an auction |
| pushes up prices by bidding against you. In order for | | | | plays an important role in the plot. |