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Posted By: davidcycleback

Several years ago, the bidder would type in a bid in the MastroNet auctions. I had the high bid on an lot and, with perhaps seven minutes left, typed a $15,000 max bid instead of the intended $1,500. It was a nervous seven minutes, but my previous high bid was not raised a dollar.

My guess is that there are a lot of financially healthy people who chose to purchase their items from respected auction houses like MastroNet and Robert Edward and have little desire to participate in the eBay flea market. If I had $70,000 to purchase a Yankees jersey for my daughter's sixth birthday present, I'd probably start with the Steiners or a MastroNet catalog rather than the eBay search bar ("But dad, I wanted pony.")