Auction amounts - how high is high

[BobC]

Originally Posted by parkplace33

With all the bidding and high prices, it’s a wonder why auctions houses haven’t offered lines of credit for buyers.

Wait a sec, isn't that already sort of being done by at least one of the "vault" providers that also functions as an AH? My understanding was they offered advances on items being held. And wouldn't be surprised if some other AHs weren't already offering something similar under certain circumstances as well.

[Johnny630]

I often wonder what percentage of big spenders in auction could be doing one or some of the following,

1. Taking loans against their 401k’s to fund card buys.

2. Using a Cash advance on their credit cards to fund buy.

3. Taking a business line or credit out to fund.