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Author: ChetP1 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 102  
Subject: Random Thoughts on BID Date: 1/16/2000 12:48 PM
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A couple of thoughts to clear my head on this fine Sunday morning.

The primary focus of Sotheby's internet auctions will become dealer to consumer sales (retail prices) as compared to the history of their brick and mortar, dealer to dealer (wholesale prices). The internet will open up the market to customers who never before had the opportunity to participate. Granted it will take time for this shift to take place, but I feel it will. Prices will therefore be considerably higher, which will draw more and more goods into the market and will lead to even greater success for dealers and Sothebys alike.

I regard China as being more a supplier than a customer in the world of art auctions; especially if pricing advances in the manner I anticipate.

No one should be concerned by the lack of significant bidding this early. I have a friend who does a large business on Ebay and she claims over 80% of the bids come in the last day. We should expect nothing less. In fact, I bet most of the bids submitted already were really just seed bids to try to get the action going. Auction houses and dealers know how to play the game.

The large Short Interest in BID has not been a factor in the share price in the 12 months I have owned the stock and I see no reason to expect it to become one until investors and brokers take notice and only God knows when that will ever be. As I've pointed out before, BID's all-time high until last year's two spikes into the 40's was in 1989. It's been a disaster ever since while the market has made millionaires out of janitors.

Chet
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