Some items from Dan Morphy's auction

ariel · 12th July 2016, 11:27 AM

As to the alleged "lack of knowledge" by the auction, it reminds me of an old joke about a multimillionaire who explains his success:" I buy something for $100, sell it for $1000.. What is my profit? 10%? That's enough for me"

This auction attracted professional collectors and dealers of militaria, and those knew exactly what was for sale and bid against each other. The lowest estimates were just a bait.

BANDOOK · 12th July 2016, 12:06 PM

ARIEL U NAILED IT,THE LOW RESERVES WERE THE PERFECT BAIT TO GET THE COLLECTORS INTERESTED,SUCH HIGH PRICES INDICATE THAT THERE WAS LOTS OF COMPETITION AND THE AUCTION HOUSE WAS SUCCESSFUL IN ATTRACTING A LOT OF PEOPLE,LIKE THE CHINESE THE INDIANS ARE BUYING BACK THEIR WEAPONS AND HERITAGE AS MOST OF THE BEST ANTIQUES ARE AVAILABLE OVERSEAS .THE PRESENT INDIAN LAW NOW ALLOWS ANTIQUES EXCEEDING 100 YEARS TO BE LEGALLY IMPORTED INTO THE COUNTRY,THIS HAPPENED AFTER TIPPU SULTANS SWORD WAS BOUGHT AT AUCTION IN LONDON BY AN INDIAN BILLIONAIRE WHO LATER GIFTED IT BACK TO THE GOVT OF INDIA ,HE PAID APPROX 156,000 POUNDS.
REGARDS

12th July 2016, 11:27 AM	#1
ariel Member Join Date: Dec 2004 Location: Ann Arbor, MI Posts: 5,503	As to the alleged "lack of knowledge" by the auction, it reminds me of an old joke about a multimillionaire who explains his success:" I buy something for $100, sell it for $1000.. What is my profit? 10%? That's enough for me" This auction attracted professional collectors and dealers of militaria, and those knew exactly what was for sale and bid against each other. The lowest estimates were just a bait.

12th July 2016, 12:06 PM	#2
BANDOOK Member Join Date: Jun 2013 Location: AUCKLAND,NEW ZEALAND Posts: 624	ARIEL U NAILED IT,THE LOW RESERVES WERE THE PERFECT BAIT TO GET THE COLLECTORS INTERESTED,SUCH HIGH PRICES INDICATE THAT THERE WAS LOTS OF COMPETITION AND THE AUCTION HOUSE WAS SUCCESSFUL IN ATTRACTING A LOT OF PEOPLE,LIKE THE CHINESE THE INDIANS ARE BUYING BACK THEIR WEAPONS AND HERITAGE AS MOST OF THE BEST ANTIQUES ARE AVAILABLE OVERSEAS .THE PRESENT INDIAN LAW NOW ALLOWS ANTIQUES EXCEEDING 100 YEARS TO BE LEGALLY IMPORTED INTO THE COUNTRY,THIS HAPPENED AFTER TIPPU SULTANS SWORD WAS BOUGHT AT AUCTION IN LONDON BY AN INDIAN BILLIONAIRE WHO LATER GIFTED IT BACK TO THE GOVT OF INDIA ,HE PAID APPROX 156,000 POUNDS. REGARDS