WOW! Take a look at this story from USA Today:



"The show must go on, but many owners of classic cars who had hoped to be counting up their profits from a big auction were instead assessing the scratches and dents as a result of damage from test collapse in a windstorm in Scottsdale, Ariz.

Winds were so intense Friday night at the Russo & Steele Auction, one of several classic car sales in the swanky town over the weekend including Barrett-Jackson, that an 800-foot tent blew on to the adjacent Loop 101 freeway.

Tent poles crashed into the classic cars being inspected by potential buyers, causing what the Arizona Republic reported was more than $1.5 million in damage to cars.

Among the more painful sights: A 1913 White Gentleman's Roadster was struck by a pole. The New York Times' Wheels blog reported that a DeTomaso Pantera was crushed. While the incident was tough on the car, it's amazing there were no serious injuries either in the tent or on the freeway."

reprinted courtesy of USA Today

According to Scambusters.org, the following are the 7 most-common antique scams.

In most cases, these antiques scams involve unscrupulous dealers or auctioneers but we want to stress that, although the risks are real and very significant, the vast majority of sellers are honest and reliable.

In this article, we spotlight the main areas where antiques scammers are at work, and we provide some tips on how to spot and avoid them.

Next time, we'll give you the 10 questions you should ask (both of yourself and the buyer/seller) to avoid falling for an antiques scam.

1. Reproductions sold as the real thing

This is probably the most common form of antiques scam, especially with furniture, paintings or musical instruments.

There's nothing wrong or illegal about copying, and plenty of people make an honest living from doing so. The crime is in passing off the result as an original.

There may be telltale signs, like evidence of use of electric tools or modern craft techniques or materials. However, experts are also at work, often using old wood from cheap antiques and applying the same methods as did the craftsmen of old. In some cases, it's virtually impossible to detect the difference.

Forgeries are referred to as "repros" (not "reproductions" which refers to items that are clearly identified as copies). Many of them originate in India or China.

Key actions: Buy only from reputable dealers or auction houses. Watch out for prices that are too good to be true. Have big-ticket items independently verified and appraised.

Don't buy valuable items sight-unseen without some agreement on approval or escrow. You can find more about online auctions on our site.

2. Forged autographs and phony Certificates of Authenticity

Although not strictly fitting the definition of "antiques," collectible items like autographs attract the same type of interest -- and the same level of scams.

Con artists may forge signatures and pass them off as the genuine item. Or they may use misleading wording like "George Washington signature" or "hand-signed Abraham Lincoln," implying it's an autograph but not specifically saying so.

Increasingly, unscrupulous sellers offer supposed Certificates of Authenticity that seem to vouch for the genuineness of the item -- not only autographs but also other collectibles and memorabilia. But these are often worthless, computer-generated documents. They don't prove anything.

Actions: Carefully check the wording of sales descriptions and the signature method (for example, felt-tip pens were only introduced in the 1960s). Be careful about accepting Certificates of Authenticity without other "provenance" (proof of an item's history).

3. Bidding rings and price fixing at auctions

Crooked dealers and auctioneers use two tricks to score a big profit at the public's expense.

First, a group of dishonest dealers agree not to bid against each other. Only one of them bids, and, if the auction is poorly attended, is likely to win the item at way below value.

The ring meets after the auction and one member may then buy the item for something approaching its real value. The difference -- the profit -- is split between the ring members.

In the second of this type of antiques scam, unscrupulous auctioneers plant shills (bogus customers) on the floor to artificially bid up the price. If the shill unintentionally wins the item, it is set aside by the auctioneer to be offered again at a different sale.

Key actions: Work with reputable auction houses and watch for suspicious behavior at under-attended sales. Note if the auctioneer keeps putting items to one side after selling -- evidence that a shill won the sale.

4. Under-valuation or low appraisal

Most people who know or suspect they have a valuable antique really have no precise idea of its true worth. They may find information online or in a price guide but only an expert dealer will know how much an item is likely to fetch if sold.

Anxious to make a juicy profit, a crooked dealer might undervalue the item, drawing attention to minor faults or by saying there's little or no demand for this particular category at the moment.

In other cases, where owners are not sure about the collectability of an item, a dealer might dismiss it as worthless or of low value.

In both cases, they would offer to take the piece off your hands for around their appraised value. Of course, they'll offer it for sale at a much higher price later.

Key actions: Never sell to a dealer you don't know or haven't checked out carefully unless you're sure of the value of your antique(s). If in doubt, get multiple appraisals. Check online for sales prices of similar items.

5. Consignment sales

This antiques scam is almost unknown. Here, a dealer offers to take one or more items on consignment and remit payment when they're sold.

Typically, this will be done with older people who are down-sizing their homes or where there's a divorce or other type of forced sale.

The risk here, if the dealer is dishonest, is either that you may not know how much an item really sold for or you may not even know it sold.

In the case of an elderly owner, if that person subsequently dies, relatives may not be aware that items from the estate have been consigned and a shady dealer won't bother to tell them.

Key actions: Keep a photographic record of any items sent for consignment sale and ensure others know about your actions. If possible, regularly visit the dealer to eye-check your stuff. If it sells, ask for proof of the sale price.

6. Stolen goods

Antiques theft is big business. And, in the age of the Internet, "fencing" (selling stolen goods) is easier than ever.

At the high end of the market, especially in the art or antiquities worlds, pieces may be stolen to order, disappearing into private collections, never to be seen again.

However, stolen items are sold at all levels of the price scale, and buying antiques from unknown or questionable sources is risky.

If an item turns out to be stolen, you have no legal right to keep it. It must be returned to the legal owner and you stand the loss, unless it can be recovered from the thief or other seller -- which, it has to be said, is highly unlikely.

Key actions: Beware of bargain prices. Ask for proof of ownership. If you have even the slightest suspicion an item may have been stolen, don't buy.

7. Bogus investment opportunities

As with all investment fraud, business scams in the antiques world usually involve the promise of a high and quick return.

In a recent case, for example, investors were offered an 18% return within 30 days for putting their money into a scheme to buy up huge lots from estate sales which would then be split up and sold individually for a big profit.

That was the theory. But the money simply disappeared or was used as part of a pyramid scheme to pay off earlier disgruntled investors.

Key actions: Check out the credentials of the person or firm running the investment. In the case above, the scheme organizer had a criminal record for similar scams.

If they don't have a track record or if the opportunity seems to offer an unbelievably high return, don't invest without some further corroborating evidence. Be sure to get professional financial advice.

In most cases, common sense is the main weapon for defeating antiques scams. Are the prices or the opportunity to make a fast and easy profit too good to be true? Does the dealer/auction house enjoy a good reputation?

As ever, in the never-ending battle to beat the scammers, it pays to do your homework -- both in terms of knowing the people you're dealing with and learning more about the items you are trying to buy or sell. You may never become an expert but even a little knowledge will stand you in good stead.


reprinted coutesy of www.scambusters.org

Public interest in live and online auctions has grown.  More and more people are turning to auctions to purchase anything from household goods to real estate.  While these auctions may be a good way to find a deal, you should do your research before you bid.

"Estate" and "Government" Auctions

 

You may have seen the advertisements before:  "County Sheriff Seized Property Auction," "Drug Dealers Seized Assets Up For Auction," "Items Previously Seized by Customs," "Spectacular Estate Auctions," and the list goes on.  These ads often include a list of high priced art, antiques, jewelry, household items, and oriental rugs that can supposedly be purchased at the auction.  While these advertisements may seem tempting, you should take some precautions before you decide to attend an auction.

 

Research the validity of "government" auctions.  Contact the government agency allegedly being represented to make sure the auction is legitimate.  If the ad merely states that seized items are up for auction, ask the auctioneer which government agency seized the property.  Be wary of advertisements that only refer to the government in a generic way.

 

Know the reputation of the auctioneer and whether the auctioneer has complied with applicable Michigan and local laws.  Although Michigan's Public Auctions Act does not apply to auctions held within cities and only requires a license for the sale of new merchandise, additional local licensing requirements may apply.  You should contact your city, township, or village clerk to determine whether the auctioneer has obtained a license to conduct the auction.  Further, Michigan requires a person or company to become registered when the title "Registered Auctioneer" is used.


You may also contact the Better Business Bureau and the Attorney General's Consumer Protection Division to see whether there are unresolved complaints against the auctioneer.  Be aware that a lack of complaints does not necessarily mean that an auctioneer has had no problems.

 

Know the value and quality of the goods before you bid.  If purchasing high value items, make sure to substantiate their authenticity.  Do not rely solely on the representation made by the auctioneer.  Unscrupulous auctioneers may substitute copies of art, furniture, and rugs.  If a deal sounds too good to be true, it probably is.

 

Shop around to make sure you are getting a good deal.  Check with local, established merchants for similar merchandise.  You may be able to find the item for less money.

 

Know the terms and conditions of the auction before participating in the auction.  Find out whether you could be on the hook for entry fees, prebid deposits, buyer's premiums (fees paid by the winning bidder), taxes, or shipping.  You should also find out about return policies and warranties.  Often auctioneers do not have return policies and warranties to back up purchases.

 

Do not get caught up in the excitement of auction buying.  Establish spending limits before the auction and stick to them.   

Additional precautions for Online auctions:


Be familiar with the auction site before you participate in the auction.  Find out what protections the auction site offers buyers.  For example, some sites may offer protection in the event that you do not receive your item or the item is significantly different from its description in the seller's listing.  Carefully check each site's policy, do not assume one site's rules are the same as another's.


Before bidding, find out all you can about the seller.  Many Internet auction sites provide feedback on sellers by other buyers.  This area is helpful when researching the seller's reputation.  Pay particular attention to numerous negative comments about the seller, especially if these comments concern the same issue, i.e. the product never arrived.  Be aware that because this information can be easily manipulated, some of the positive feedback may be self-created "shill" testimonials.   

 
Make sure you know how to contact the seller in case there is a problem.  Get the seller's name, physical street address, email address and phone number.  Avoid doing business with sellers you cannot identify, especially those who try to lure you off the auction site with promises of a better deal.
 

Find out who pays for shipping and delivery.  Generally, sellers specify the cost of shipping the item and give buyers the option of express delivery for an additional fee.  If you are uncertain about shipping costs, check with the seller before you bid.  Beware of inflated shipping charges.  If a shipping charge seems unreasonable, e-mail the seller and ask how they determined the rate; verify the information with your local postal and delivery services.


If the seller insists on using a particular escrow or online payment service you have never heard of, check it out.  Visit its website and call its customer service line.  If there is no customer service line, or you call and cannot reach someone, do not use that service.  It is important that you thoroughly research the service and are comfortable with the service because you will be using it to provide payment to the sellers.  You may also contact the Better Business Bureau and the Attorney General's Consumer Protection Division to see whether there are unresolved complaints against the service.  Again, be aware that a lack of complaints does not necessarily mean that the service has had no problems.
 

Protect your privacy when bidding.  Never provide personal information such as your Social Security number, driver's license number, or bank account information.  

 
Save all the transaction information.  Print or make note of the seller's identification, the item description and the time, date, and price you bid on the item.  Print and save a copy of every e-mail you send or receive from the auction company or the seller.

 

reprinted courtesy of:

Consumer Protection Division
P.O. Box 30213
Lansing, MI 48909
517-373-1140
Fax: 517-241-3771
Toll free: 877-765-8388

Thanks to you, we managed to raise close to $1,000 for the Nokomis Voluntere Fire Department!

This past weekend, we hosted the Firehouse Benefit Auction; featuring Fireman/Firehouse-themed toys, collectibles and memorabilia. Thanks to the generosity of our community, we were able to raise over $100 in cash donations...

...and donate almost $800 from the sale:

We really appreciate your attendence and donations to the cause. Be sure to check back here often, as we'll be adding special "Bid Online" auctions for our site members, so you can have all the fun of bidding at the auction from the comfort of your own livingroom.

-Jeff

Hey Cyberspace! Scot here...

One week and THREE Members, woohoo! That's like...a 300% increase in new-member sign-ups! Ok, enough of that...

So Christmas is upon us and I find myself counting the days until we go home to visit Mom and Dad...and the SUN! To anyone that may read this, I hope that this find you well and that you have a Merry Christmas. In addition, this community of Antique Dealers, Auction Lovers and Consigners only works if you reach-out to one another. So if you've made it this far, thanks for investigating a bit!

On that note, please feel free to friend-connect with me and send me your feedback. See something you'd rather not: lemme know. Where the H-E-Double-Hockey-Sticks is something else?...Lemme know.


Thanks!

-Scot

Hey, thanks for stopping by the site.

As some of you may know, I flew the nest to shove my face full of beer, bangers and mash, and haggis while shoving my brain full of nerdy stuff. What's come out of it all is some serious integestion, some great memories and a passion for technology.

Most of you by now have participated in some forum, left a comment on Amazon, created a Facebook profile, Twitted (God, even I held-out till the last second on that one!), etc...As you can see, the internet has become a collaborative place. So I got a hairbrained notion to create a "community" online...a virtual representation of the Sarasota Auction house.

When you visit Mom and Dad's place, there's usually your favorite chai waiting, some sort of gossip to be shared, coffee drank and general socializing to do. Think of this space as an extension of that place. Even if you just stop in from time to time to read the chatter, or see previews of the next auction, you're always welcome and we're glad you stopped by!

-Scot
(The chatty one)