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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Valuepro who wrote (263885)	7/25/2010 4:59:57 PM
From: bentway	Read Replies (1) \| Respond to of 306849

I haven't been to an RRE auction, but have attended several auto auctions. I've never bought a vehicle at one, because the prices paid were more than I would have paid just buying from local private parties. They're kind of fun, as the auctioneer does the tobacco auction-style vocalizations. One thing I noticed after attending several of these auctions, is that some of the vehicles sold at them mysteriously re-appeared in later auctions I attended. When I asked, I was told that the sale must have fallen through, blah, blah.. What I think they do is plant "buyers" to bid up the prices if they aren't getting bids or high enough bids on a vehicle. When these guys misread a dupe they're bidding against, they "win"..