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#1
05-20-2013, 06:06 PM
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Just make sure you factor in any buyers premium to your bid and you won't get burnt.
If a lot is worth $1000 to you and an auction house has no buyers premium, then you can bid up to $1000. If the premium is 10%, don't bid over $900, and if its 25% don't bid over $800 You still spend the same amount, its just that the consignor will get a smaller piece of the pie as HRBAKER stated. 
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