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Why Auction Houses Are Like Bookies
Coinosaurus
Posts: 9,659 ✭✭✭✭✭
* Bookies do business at 3am in dark alleys. Auction houses do business at 3am in dark hotel meeting rooms.
* Bookies don't care which side of the line you are on, they just want action. Auctions houses are equally happy with either buy or sell action.
* Bookies have bruising thugs named Rocco on their payrolls. Auction houses have equally armed guys, except they are better dressed.
* Bookies charge you vigorish. The house also charges vigorish, but they call it a "commission."
* Bookies print their line in the newspaper. Auctions print their results in Coin World.
* Bookies break your legs if you don't pay up. Auction houses would also break your legs, but only if it was legal.
* Bookies have 800-numbers for "free picks." Auction houses have 800-numbers for "free catalogs."
* Bookies like a lot of hype before the big game. Auction houses like a lot of hype before the big sale.
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Comments
<< <i>Auction houses also expect payment on time. We just sent out the wire today. Gulp >>
Even at 1% interest that's about $300/day! What, they didn't give you 30 day terms
The 5,033 ozs. of gold ($10M) are now worth $92,607 more since that day of the auction. Hard to beat that bullion return!! Forget $300/day
Wondercoin
Edited to add ... Oops the cost at this auction was roughly 6,034 ozs so the gold is now worth $111,025 more!! Tomorrow is another day though.
<< <i>Auction houses also expect payment on time. We just sent out the wire today. Gulp >>
I think you will make out great.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>...Auction houses give Uncle Sam a cut... Bookies give "Fat" Uncle Sammy a cut >>
yes, and either one will whack whoever at any given time as well