CompuServe Messages

"In both cases there were few bargains..particularly for single units. Somehow these guys are able to attract a lot of buyers who haven't done their homework." Or more likely, sophisticated buyers who don't expect "bargains". A business auction is not a garage sale. The function of the auctioneer is to get as a high a price as possible for what's being sold. Occasionally a "bargain" will slip through, but as a Wall St. Journal article pointed out just a couple of weeks back, average savings will be about 10 to 20% below current market prices. For someone buying in quantity, that can be quite a savings and offer a substantial profit opportunity. The unsophisticated buyer, however, looking for a pennies-on-the-dollar "bargain" for a single piece is apt to be disappointed and is better advised to haunt flea markets and garage sales. Jerry