Man Struggling to Pay Bills In Shock As a Family Heirloom’s Auction Price Changes His Life Forever

Ijreview ^ | August 17, 2014 | George Morgan

[Figment]

Loan shark interest rates

[dfwgator]

So what’s the alternative? Having no means to get cash in a pinch at all?

[jch10]

What a heartwarming story. Thanks for sharing.

[jch10]

Looks like a winning ticket to me.

[Fresh Wind]

The buyer’s premium is a just a sneaky way to make more money.

They make no secret that it’s there, but in the heat of the bidding battle, you only think about the number the auctioneer is calling for, you don’t have time to make the mental calculation to add the premium into the bid price.

As a result, if you aren’t disciplined (and many bidders aren’t), you end up paying more than you really want to.

Auctioneers count on this.

If bidders operated logically, they would simply not bid as high with the premium as they would without it, but once emotion takes over, logic goes out the door.

Auctioneers will tell you that the premium allows them to charge the consignor a lower rate, but I think that’s really just BS.

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If you like 2 cents on the dollar and usury interest rates go ahead.

[Figment]

I don’t buy from pawn shops either. A very high portion of their merchandise is stolen

[Conservative4Ever]

Great story, and the blanket is beautiful. What a work of art.

[Elsie]

Waddya mean ALMOST?!?

[goat granny]

I think the fee is paid by the buyer.....

[Elsie]

Hey!

I had WONDERED what had happened to my blanket I bought off of that fellow down at Kaibito!

It musta fell outta my van when I was visiting you a few years ago.

[Elsie]

The fella down at Bluff was REALLY interested in it!

[luvie]

Ahhhh....a good news story for a change. Wonderful! :)

[b9]

Wow