SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

[X]      QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
          ACT OF 1934

For the quarterly period ended September 30, 2000
                              -------------------

                                   OR

[  ]     TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
         ACT OF 1934

For the transition period ________ to ________


              Commission file number 1-11988


                 GREG MANNING AUCTIONS, INC.
     (Exact name of Registrant as specified in its Charter)


       NEW YORK                                               22-2365834
---------------------------                                 --------------
(State or other jurisdiction of                            (I.R.S. Employer
incorporation or organization)                            Identification No.)


     775 Passaic Avenue
     West Caldwell, New Jersey                                 07006
--------------------------------                              -------
(Address of principal executive offices)                    (Zip Code)


Registrant's telephone number, including area code:  (973) 882-0004
                                                     --------------

Check  whether  the Issuer  (1) has filed all  reports  required  to be filed by
Section 13 or 15(d) of the Securities  Exchange Act of 1934 during the preceding
12 months (or for such shorter  period that the  Registrant was required to file
such reports),  and (2) has been subject to filing  requirements for the past 90
days.
Yes       X        No   _____
      ----------

As of  November  10,  2000,  Issuer had  10,061,562  shares of its Common  Stock
outstanding.







<PAGE>



                           GREG MANNING AUCTIONS, INC.

                                Table of Contents
                                                                   Page Number
PART I.  FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements (Unaudited)

  Condensed Consolidated Balance Sheets at
  June 30, 2000 and September 30, 2000                                   3

  Condensed Consolidated Statements of Operations for the
  three months ended September 30, 1999 and 2000                         4

  Condensed Consolidated Statements of Stockholders' Equity for the
  three months ended September 30, 2000                                  5

  Condensed Consolidated Statements of Cash Flows for the
  three months ended September 30, 1999 and 2000                         6

  Condensed Consolidated Statement of Comprehensive Income for the
  three months ended September 30, 1999 and 2000                         7

  Notes to Condensed Consolidated Financial Statements                   8

Item 2.  Management's Discussion and Analysis of Financial Condition
         and Results of Operations                                      14

Item 3. Quantitative and Qualitative Disclosures
        About Market Risk                                               19

PART II.          OTHER INFORMATION

Item 1.  Legal Proceedings                                              20

Item 2.  Changes in Securities                                          20

Item 3.  Defaults Upon Senior Securities                                20

Item 4.  Submission of Matters to a Vote of Security Holders            20

Item 5.  Other Information                                              20

Item 6.  Exhibits and Reports on Form 8-K                               20

Signatures                                                              21

<PAGE>


PART I. FINANCIAL INFORMATION
                              GREG MANNING AUCTIONS, INC.
                        Condensed Consolidated Balance Sheet

                                            June 30,            September 30,
                                              2000                  2000
           Assets                          (Audited)             (Unaudited)
          -------                       ----------------     ------------------
 Current Assets
  Cash and Cash Equivalents             $  1,092,311          $   1,522,030
  Accounts Receivable, net
   Auctions Receivable                     6,747,582              7,695,155
   Auctions Receivable - Related Party       614,000                515,000
   Advances to Consignors                  2,852,294              2,895,010
   Other                                      16,201                 15,001
 Inventory                                20,601,338             19,489,419
 Deferred Tax Asset                          824,000                902,000
 Prepaid Expenses                            517,523                464,689
                                       -----------------     ------------------
  Total Current Assets                    33,265,249             33,498,304

 Property and Equipment, Net                 927,699                992,224
 Goodwill, Net                             6,600,686              6,549,409
 Other Purchased Intangibles, Net          3,021,667              3,175,164
 Marketable Securities                       231,000                192,500
 Investment in Equity Method Investees     5,936,826              5,667,669
 Other Non-Current Assets
  Deferred Tax Asset                       1,920,000              2,278,100
  Inventory                                2,400,000              2,400,000
  Advances to Consignors                     753,347                766,689
  Other                                      386,441                425,855
                                       -----------------     ------------------
   Total Assets                        $  55,442,915         $   55,945,914
                                        ===============       =================

     Liabilities and Stockholders' Equity
 Current Liabilities
  Demand Notes Payable                 $   7,950,000         $   11,170,000
  Notes Payable                              182,498                116,928
  Payable to Third Party Consignors        1,468,154              2,456,444
  Accounts Payable                         3,492,776              2,407,121
  Advance from Related Party               2,421,804              1,871,804
  Accrued Expenses                         1,849,858              1,320,854
                                       -----------------     ------------------
    Total Current Liabilities             17,365,090             19,343,151
 Notes Payable - Long Term                   110,700                 53,796
                                       -----------------     ------------------
    Total Liabilities                     17,475,790             19,396,947

Preferred Stock, $.01 par value. Authorized
 10,000,000 shares; none issued                -                      -
Common Stock,  $.01 par value.  Authorized
 40,000,000  shares;  10,024,632 and
 10,061,562  issued and outstanding at
 June 30, 2000 and September 30, 2000,
 respectively.                               100,246                100,616
 Additional paid in capital               41,251,790             41,469,597
 Accumulated other comprehensive income:
 Unrealized loss on marketable securities    (92,400)              (115,500)
 Accumulated deficit                      (1,959,043)            (2,859,088)
 Treasury stock, 99,900 and 172,100 shares
 at June 30, 2000 and September 30, 2000,
 respectively, at cost.                   (1,333,468)            (2,046,658)
                                      -----------------     ------------------
  Total Stockholders' Equity              37,967,125             36,548,967
                                      -----------------     ------------------
Total Liabilities and Stockholders'
   Equity                              $  55,442,915         $   55,945,914
                                       ================      =================

        See accompanying notes to condensed consolidated financial statements
<PAGE>

                                 GREG MANNING AUCTIONS, INC.
                     Condensed Consolidated Statements of Operations (1)
                           For the Three Months Ended September 30,
                                          (Unaudited)


                                          1999                    2000
                                   ------------------   -----------------------
Operating Revenues
 Sales of merchandise              $  13,943,494       $          12,929,873
 Commissions earned                    1,264,106                   1,477,141
                                   ------------------   -----------------------
  Total Revenues                      15,207,600                  14,407,014
 Cost of merchandise sold             12,863,062                  11,944,851
                                   ------------------   -----------------------
  Gross profit                         2,344,538                   2,462,163

Operating Expenses
 General and Administrative            1,108,650                   1,140,470
 Salaries and Wages                    1,104,106                   1,215,636
 Depreciation and Amortization           230,900                     362,799
 Acquisition and Merger Costs             15,239                        -
 Marketing                               559,724                     616,474
                                    -----------------   ----------------------
Total Operating Expenses               3,018,619                   3,335,379
                                    -----------------   ----------------------
 Operating Loss                         (674,081)                   (873,216)

Other Income (expense)
 Gain on sale of marketable securities
  and investments                         14,494                        -
 Interest Income                         227,788                     142,385
 Interest Expense                       (404,678)                   (315,536)
 Minority Interest                            56                        -
 Loss from operations of investees       (59,313)                   (276,678)
                                      -------------       -------------------
  Loss before income taxes              (895,734)                 (1,323,045)
 Benefit from income taxes              (407,788)                   (423,000)
                                      -------------       -------------------
Net Loss                              $ (487,946)         $         (900,045)
                                      =============       ===================

Basic Loss per Share
 Weighted average shares outstanding   8,539,135                  10,044,763
                                      =============       ===================
 Basic loss per share                  $   (0.06)          $           (0.09)
                                      =============       ===================
Diluted Loss per Share
 Weighted average shares outstanding   8,539,135                  10,044,763
                                      =============       ===================
 Diluted Loss per Share                $   (0.06)          $          (0.09)
                                       ==========          ===================

   (1) All amounts have been restated to reflect the acquisition of Spectrum
     Numismatics International, Inc. as if it had been acquired July 1, 1999.

      See accompanying notes to condensed consolidated financial statements


<PAGE>


<TABLE>
<CAPTION>


                           GREG MANNING AUCTIONS, INC.
          Condensed Consolidated Statement of Stockholders' Equity (1)
                       July 1, 2000 to September 30, 2000
                                   (Unaudited)

                                                                          Unrealized
                                                                          Gain (Loss)
                                     Common Stock         Additional         on                                          Total
                              --------------------------    Paid-In      Marketable     Accumulated     Treasury     Stockholders'
                                 Shares           $         Capital      Securities      Deficit         Stock           Equity
                              -------------  -----------  ------------  -------------  ------------  -------------  ---------------
<S>                             <C>          <C>          <C>           <C>            <C>            <C>            <C>
 Balance, June 30, 2000         10,024,632   $ 100,246    $ 41,251,790  $ (92,400)     $ (1,959,043)  $ (1,333,468)  $ 37,967,125

 Options exercised                  27,250         273          43,400                                                     43,673

 Income tax benefit from
     exercise of stock options,
     net of valuation allowance                                 58,188                                                     58,188

 Common shares issued relating to
     acquisition of GMD, net of
     expenses                        9,680          97         116,219                                                    116,316

 Unrealized loss from marketable
    Securities, net of tax
    of $15,400                                                            (23,100)                                        (23,100)

 Common shares repurchased as
     Treasury Shares                                                                                      (713,190)      (713,190)

 Net loss, September 30, 2000                                                              (900,045)                     (900,045)
                              -------------  -----------  ------------  -------------  ------------  -------------  ----------------
 Balance, September 30, 2000    10,061,562   $ 100,616    $ 41,469,597  $(115,500)     $ (2,859,088)  $ (2,046,658)  $ 36,548,967
                              =============  ===========  ============  =============  ============  =============  ================
</TABLE>

  (1) All amounts have been restated to reflect the acquisition of Spectrum
    Numismatics International, Inc. as if it had been acquired July 1, 1999.

    See accompanying notes to condensed consolidated financial statements



<PAGE>

<TABLE>
<CAPTION>


                                 GREG MANNING AUCTIONS, INC.
                     Condensed Consolidated Statements of Cash Flows (1)
                           For the Three Months Ended September 30,
                                          (Unaudited)

                                                             1999                   2000
                                                      --------------------    -----------------
<S>                                                     <C>                     <C>
 Cash flows from operating activities:
      Net Loss                                          $        (487,946)      $     (900,045)
      Adjustments to reconcile net loss to net
      cash from operating activities:
         Depreciation and amortization                            304,742              352,710
         Provision for bad debts                               -                       (14,546)
         Provision for inventory reserve                       -                       178,902
         Gain on sale of marketable securities and
          investments                                            (14,494)                -
         Equity in loss of equity method investees                59,313               276,678
         Deferred tax benefit                                   (407,788)             (362,512)
         (Increase) decrease in assets:
            Auctions receivable                                 (153,785)             (834,027)
            Advances to consignors                              (389,757)              (42,716)
            Inventory                                            (52,004)              933,017
            Prepaid expenses and deposits                         95,918                52,834
            Other assets                                         (40,493)              (57,636)
         Increase (decrease) in liabilities:
            Payable to third-party consignors                   (437,921)              988,290
            Accounts payable                                  (1,553,188)           (1,085,655)
            Accrued expenses and other liabilities                51,609              (529,004)
            Advance from Related Party                          -                     (550,000)
            Income taxes payable                                  12,400                -
                                                      --------------------    -----------------
                                                              (3,013,394)           (1,593,710)

 Cash flows from investing activities
      Capital expenditures for property and                     (195,657)             (159,792)
        equipment
      Additional goodwill                                      -                       (17,267)
      Purchase of Other Intangibles                            -                      (220,000)
      Investment in equity method investee                       (19,360)               (7,521)
      Proceeds from sale of marketable securities
       and investments                                            15,649                -
                                                      --------------------    -----------------
                                                                (199,368)             (404,580)

 Cash flows from financing activities:
      Net proceeds from (repayment of) demand notes
       payable                                                   885,000             3,220,000
      Repayment of loans and loans payable                      (233,819)             (122,474)
      Proceeds from exercise of options                           86,897                43,673
      Payment for Treasury Stock                               -                      (713,190)
      Proceeds from Stock Subscriptions Receivable             3,000,000               -
                                                      --------------------    -----------------
                                                               3,738,078             2,428,009

 Net change in cash and cash equivalents                         525,316               429,719
 Cash and cash equivalents:
      Beginning of period                                        811,196             1,092,311
                                                      --------------------    -----------------
      End of period                                 $          1,336,512   $         1,522,030
                                                      ====================    =================
</TABLE>


   (1) All amounts have been restated to reflect the acquisition of Spectrum
     Numismatics International, Inc. as if it had been acquired July 1, 1999.
     See accompanying notes to condensed consolidated financial statements
<PAGE>

                              GREG MANNING AUCTIONS, INC.
                Statements of Consolidated Comprehensive Income (1)

                                             Three months ended September 30,
                                                  1999               2000
                                        --------------------------------------
   Net Loss                                    $ (487,946)       $ ( 900,045)

   Other comprehensive income (loss)
    Unrealized loss on securities,
    net of tax of $15,400                           -                (23,100)
                                        --------------------------------------
  Comprehensive Loss                           $ (487,946)       $ ( 923,145)
                                        ======================================

    (1) All amounts have been restated to reflect the acquisition of Spectrum
     Numismatics International, Inc. as if it had been acquired July 1, 1999.

   See accompanying notes to condensed consolidated financial statements


<PAGE>

Notes to Condensed Consolidated Financial Statements

(1)  Organization, Business and Basis of Presentation

         Greg  Manning   Auctions,   Inc.,   together   with  its  wholly  owned
subsidiaries Ivy & Mader Philatelic Auctions, Inc. Greg Manning Galleries, Inc.,
Teletrade,   Inc.,   Greg  Manning   Direct,   Inc.  and  Spectrum   Numismatics
International,  Inc.(collectively,  the  "Company") is a public  auctioneer  and
marketer of collectibles  including rare stamps,  stamp  collections and stocks,
sports trading cards and memorabilia, movie posters, fine art, rare coins, comic
books,  Hollywood and Rock and Roll memorabilia.  The Company conducts both live
auctions and auctions via the Internet, bringing together purchasers and sellers
located  throughout the world. The Company accepts property for sale at auctions
from sellers on a consignment  basis,  and earns a commission  on the sale.  The
Company also sells  collectibles  by private treaty for a commission,  and sells
its own  inventory at auction,  wholesale and retail.  In addition,  the Company
maintains a 48% investment in  GMAI-Asia.com,  Inc., which conducts retail sales
and auction sales over the internet in Asia, particularly in China.

         The accompanying  condensed  consolidated  balance sheet as of June 30,
000 and September  30, 2000 and related  condensed  consolidated  statements of
operations,  stockholders'  equity, cash flows and comprehensive  income for the
three month  periods  ended  September 30, 1999 and 2000 have been prepared from
the books and records  maintained by the Company,  in accordance  with generally
accepted  accounting  principles for interim financial  information and with the
instructions to Form 10-Q. Accordingly,  they do not include all information and
disclosures  required by generally accepted  accounting  principles for complete
financial statements. In the opinion of management,  all adjustments,  which are
of a normal recurring nature,  considered necessary for a fair presentation have
been included.  For further  information,  refer to the  consolidated  financial
statements  and  disclosures  thereto in the Company's  Form 10-KSB for the year
ended June 30,  2000 filed with the  Securities  and  Exchange  Commission.  The
results of  operations  for such periods are not  necessarily  indicative of the
results expected for the full fiscal year or for any future period.

(2) Summary of Certain Significant Accounting Policies

Revenue Recognition

         Revenue  is  recognized  by  the  Company  when  the  rare  stamps  and
collectibles are sold and is represented by a commission received from the buyer
and seller.  Auction  commissions  represent a percentage of the hammer price at
auction sales as paid by the buyer and the seller.

         In  addition  to auction  sales,  the  Company  also sells via  private
treaty.  This occurs when an owner of property arranges with the Company to sell
such  property  to a third  party at a  privately  negotiated  price.  In such a
transaction,  the owner may set selling price parameters for the Company, or the
Company may solicit selling prices for the owner,  and the owner may reserve the
right to reject any selling price.  The Company does not guarantee a fixed price
to the owner,  which  would be payable  regardless  of the  actual  sales  price
ultimately received.  The Company recognizes as private treaty revenue an amount
equal to a percentage of the sales price.

         The Company  also sells its own  inventory  at auction,  wholesale  and
retail. Revenue with respect to inventory at auction is recognized when sold and
for wholesale or retail sales,  revenue is recognized when delivered or released
to the customer or to a common carrier for delivery. Sales returns have not been
material.

         The  Company  does  not  provide  any  guarantee  with  respect  to the
authenticity  of  property  offered  for  sale at  auction.  Each lot is sold as
genuine and as  described by the Company in the catalog.  When  however,  in the
opinion of a  competent  authority  mutually  acceptable  to the Company and the
purchaser,  a lot is declared otherwise,  the purchase price will be refunded in
full if the lot is returned to the Company  within a specified  period.  In such
event,  the Company  will return such lot to the  consignor  before a settlement
payment  has been  made to such  consignor  for such lot in  question.  To date,
returns have not been material.  Large  collections are generally sold on an "as
is" basis.
<PAGE>
Basis of Presentation

                  During  February  2000,  the  Company   acquired  all  of  the
outstanding stock of Spectrum Numismatics International,  Inc. ("Spectrum") in a
transaction  accounted for under the pooling of interest  method of accounting .
The condensed consolidated financial statements have been restated for the three
months ended September 30, 1999, to reflect the Company's  results of operations
and  financial  position as if Spectrum  was a wholly  owned  subsidiary  of the
Company as of July 1, 1999.

Principles of Consolidation

         The  consolidated  financial  statements  of the  Company  include  the
accounts  of its  wholly  owned  subsidiaries.  All  intercompany  accounts  and
transactions have been eliminated in consolidation.

Business Segment

         The company  operates in one segment,  the auctioning or private treaty
sale of rare  stamps  and  other  collectibles.  Set  forth  below is a table of
aggregate sales of the Company, subdivided by source and market:

<TABLE>
<CAPTION>

                                                         For the Three Months Ended
                                                                September 30,                      Percentages
                                                   -----------------------------------    ---------------------------
                                                         1999               2000             1999            2000
                                                   -----------------    --------------    ------------    -----------
<S>                                              <C>                  <C>                        <C>            <C>
 Aggregate Sales                                 $      21,632,989    $   22,838,331             100%           100%
                                                   ================     =============
        By Source:
              A. Auction                                  7,689,495         9,908,458             36%            43%
              B. Sales of Inventory                      13,943,494        12,929,873             64%            57%

        By Market:
              A. Philatelics                              3,503,529         4,833,384             16%            21%
              B. Numismatics                             15,276,894        13,349,397             71%            59%
              C. Sports Collectibles                      2,213,660         2,701,664             10%            12%
              D. Diamond                                    168,827            37,614              1%             0%
              E. Art                                         20,564             1,610              0%             0%
              F. Other Collectibles                         449,515         1,914,662              2%             8%
</TABLE>

        Aggregate sales consist of the aggregate proceeds realized from the sale
of property,  which include the Company's commissions when applicable.  Property
sold by the Company is either  consigned to it by the owner of the property,  or
is owned by the Company directly. Aggregate sales of the Company's inventory are
classified  as such  without  regard as to  whether  the  inventory  was sold at
auction or  directly to a  customer.  Aggregate  sales by auction and by private
treaty represent the sale of property consigned by third parties.


Accounts Receivable

                Advances to consignors represent advance payments,  or loans, to
the consignor  prior to the auction sale,  collateralized  by the items received
and held by the Company for the auction  sale and the  proceeds  from such sale.
Interest on such  amounts is  generally  charged at an annual rate of 12%.  Such
advances generally are not outstanding for more than six months from the date of
the note.

                As of June 30, 2000 and  September  30, 2000,  the allowance for
doubtful accounts included in auction receivables was approximately $826,000 and
$811,000, respectively.

Intangible Assets
         Goodwill
         Goodwill  primarily  includes the excess  purchase  price paid over the
fair  value  of the net  assets  acquired.  Goodwill  is  being  amortized  on a
straight-line  basis  over  periods  ranging  from five to twenty  years.  Total
accumulated  amortization at June 30, 2000 and 2000 was  approximately $ 857,000
and $1,042,000,  respectively.  The  recoverability  of goodwill is evaluated at
each year end balance sheet date as events or circumstances  indicate a possible
inability to recover its carrying amount. This evaluation is based on historical
and  projected  results of  operations  and gross cash flows for the  underlying
businesses.  Amortization  expense  charged to  operations  for the three months
ended  September  30,  1999 and 2000 was  approximately  $ 60,000  and $ 185,000
respectively.

         Other Purchased Intangibles
         Other Purchased  Intangibles  consisting of Trademarks,  Customer Lists
and Supplier  Agreements,  purchased as part of business  acquisitions or in the
ordinary   course  of  business  are  presented   net  of  related   accumulated
amortization  and are being  amortized on a  straight-line  basis over a 20-year
period for  Trademarks  and a 5-year  period  for  Customer  Lists and  Supplier
Agreements.  Total   accumulated  amortization  at  June  30, 2000 and September
30, 2000 was approximately $378,000 and $  445,000,  respectively.  Amortization
expense  charged to operations for the three months ended September 30, 1999 and
2000 was approximately $ 58,000 and $ 67,000, respectively.

Investments

         The  Company  accounts  for  marketable   securities  pursuant  to  the
Statement of Financial  Accounting  Standards  No. 115,  Accounting  for Certain
Investments in Debt and Equity Securities.  Under this statement,  the Company's
marketable   securities  with  a  readily  determinable  fair  value  have  been
classified  as  available  for  sale  and  are  carried  at fair  value  with an
offsetting  adjustment to Stockholders'  Equity. Net unrealized gains and losses
for  temporary  changes in fair value of marketable  securities  are credited or
charged to a separate component of Stockholders' Equity.

         Marketable  securities  available  for  sale  as  of  June 30, 2000 and
September 30, 2000 is as follows:

                                       Cost        Market        Unrealized
                                                   Value         Gain (Loss)
                                       -----      --------       ------------
  June 30, 2000 Common Stock        $ 385,000     $ 231,000      $ (154,000)
                                    =========     =========      ===========
  September 30, 2000  Common Stock  $ 385,000     $ 192,500      $ (192,500)
                                    =========     =========      ===========

Earnings (loss) per common and common equivalent share

                  Basic  earnings  per  share is  computed  by  dividing  income
available to common shareholders by the weighted-average number of common shares
outstanding  during  the  period.  Diluted  earnings  per share is  computed  by
dividing income available to common shareholders by the weighted-average  number
of common shares  outstanding  during the period increased to include the number
of  additional  common shares that would have been  outstanding  if the dilutive
potential common shares had been issued.  The dilutive effect of the outstanding
options would be reflected in diluted  earnings per share by  application of the
treasury  stock  method.  There is no dilutive  effect to these  options for the
three months ended September 30, 1999 and 2000.

Comprehensive Income

             Comprehensive income as defined includes all changes in equity (net
assets) during a period from non-owner sources.  Accumulated other comprehensive
income, as presented on the accompanying  consolidated  balance sheet consist of
the net unrealized gains (losses) on securities, net of tax.

(3) Inventories
         Inventories as of June 30, 2000 consisted of the following:
                                               Non-
                            Current          Current               Total
                        ----------------    -------------    ---------------
Stamps                  $   3,609,682       $    500,000      $  4,109,682
Sports Collectibles         4,003,742                            4,003,742
Coins                       8,881,741          1,000,000         9,881,741
Art                           315,097                              315,097
Other                       3,791,076            900,000         4,691,076
                        ----------------    -------------    ---------------
                        $  20,601,338       $  2,400,000      $ 23,001,338

         Inventories as of September 30, 2000 consisted of the following:
                                               Non-
                            Current          Current               Total
                        ----------------    -------------    ---------------
Stamps                  $    3,962,872      $   500,000      $   4,462,872
Sports Collectibles          3,993,175            -              3,993,175
Coins                        6,677,097        1,000,000          7,677,097
Art                            314,866           -                 314,866
Other                        4,541,409          900,000          5,441,409
                        ----------------    -------------    ---------------
                        $   19,489,419      $ 2,400,000      $  21,899,419
                        ================    =============    ===============
             The Company  has  provided an  inventory  reserve of  approximately
$514,000 and $693,000 at June 30, 2000 and September 30, 2000, respectively. The
non-current  inventory  represents an estimate of total inventory,  which is not
expected to be sold within one year.

            Inventories are stated at the lower of cost or market.  In instances
where bulk  purchases  are made,  the cost  allocation  is based on the relative
market values of the respective  goods.  The Company has agreements with certain
suppliers  to  share  the net  profits  or  losses  attributable  to the sale of
specific items of inventory.

(4) Related-party Transactions

         The  Company  accepts  rare stamps and other  collectibles  for sale at
auction  on a  consignment  basis from  Collectibles  Realty  Management,  Inc.,
("CRM"), a company owned by Greg Manning. Such stamps and collectibles have been
auctioned by the Company or sold  at  private  treaty  under  substantially  the
same  terms as for  third party customers and the Company charges CRM a seller's
commission for items valued at under  $100,000  per lot. In the case of auction,
the hammer price of the sale,  less any seller's commission, is paid to CRM upon
successful auction, and in the  case  of  private treaty,  the  net  price after
selling  commissions is  paid  to  CRM. For the three months ended September 30,
1999 and 2000, such auction and private treaty sales  (net  of  commission) were
not material.

         Included in Accounts Receivable at June 30, 2000 and September 30, 2000
is  approximately  $31,000,  which is due from CRM and will be  collected in the
ordinary course of business.

         Scott  Rosenblum,  a director of the  Company,  is a partner of the law
firm Kramer,  Levin,  Naftalis & Frankel,  which  provides legal services to the
Company.  Anthony L.  Bongiovanni,  Jr.,  also a  director  of the  Company,  is
president of Micro Strategies, Incorporated, which provides computer services to
the Company.  Richard  Cohen,  who is also a director of the  Company,  provided
consulting services for the Company. Total expenditures for services rendered by
these  firms  for the  three  months  ended  September  30,  1999 and 2000  were
approximately  $21,000 and $ 75,000 respectively,  in the case of Kramer, Levin,
Naftalis & Frankel, approximately $46,000 and $199,000 respectively, in the case
of  Micro  Strategies,   Incorporated,   of which   approximately  $ 30,000  and
$42,000  was  charged to operations in 1999 and 2000,  respectively,  and $0 and
$ 29,000 respectively in the case of Mr. Cohen.

         Included in Auctions Receivable - Related Party is $ 515,000 for Afinsa
Bienes Tangibles,  SA, ("Afinsa") which owns  approximately 13% of the Company's
outstanding Common Stock.

               For  the  three  months  ended  September  30,  1999,   sales  of
approximately  $891,000 (6% of sales) were made to an equity method  investee of
the Company and a former stockholder of Spectrum,  who is a current  stockholder
of the Company.  No such sales were made in the three months ended September 30,
2000. Purchases made from these entities  approximated $287,000 and $358,000 for
the three months ended September 30, 1999 and 2000, respectively.

               The  Company  acts as an agent of Afinsa  regarding  their  stock
subscription  agreement  with  GMAI-Asia.com,  Inc.  Under this  agreement,  the
Company  receives  funds from Afinsa and advances  such funds to  GMAI-Asia.com,
Inc. on an as-needed basis.  There is no segregation of these funds. Such amount
liable to be paid to  GMAI-Asia.com,  Inc. is $2,421,804 and $ 1,871,804 at June
30, 2000 and  September 30, 2000,  respectively  and is included in Advance from
Related Party.

                Prior to the Spectrum acquisition,  Spectrum was indebted to one
of their stockholders (a current  stockholder of the Company) under the terms of
three secured notes which were due on demand and allowed for maximum  borrowings
of approximately  $5,000,000.  These notes were paid in full during fiscal 2000.
Interest expense associated with these notes was approximately $ 124,000 for the
three  months  ended  September  30,  1999.  Additionally,  Spectrum  paid  this
individual approximately $ 43,000 for consulting and debt guarantee fees for the
three months ended September 30, 1999.

        During the three months ended  September 30, 2000,  the Company paid Mr.
Manning  approximately  $48,000 of debt guarantee
fees.

(5) Debt
         The  Company  has a  revolving  credit  agreement  with Brown  Brothers
Harriman & Co. ("Brown  Brothers")  pursuant to which Brown  Brothers  agreed to
provide the Company with a credit facility of up to $5,750,000. The Company pays
an annual fee for the facility  equal to one quarter of one percent of the total
amount of such  facility.  Borrowings  under this  facility bear interest at the
rate of 2% above Brown Brothers base rate, which was 8.25 % at June 30, 2000 and
September  30, 2000,  and are payable on demand.  At June 30, 2000 and September
30, 2000,  borrowing  under this facility  totaled  $1,600,000  and  $4,820,000,
repectively.  Absent a material adverse change or event of default as determined
by Brown Brothers, with respect to the revolving credit loan, Brown Brothers has
agreed  to  provide  the  Company  with  a  120-day notification period prior to
issuing a demand for  repayment,  so  long as the Company is in compliance  with
certain  financial and operating guidelines.

         The Company's  obligations to Brown Brothers under the above  revolving
credit loan facility is  collateralized  by the Company's  accounts  receivable,
advances to  consignors,  and inventory.  The loan  agreements  contain  various
guidelines  (including those relating to minimum tangible net worth and interest
coverage ratio) which the Company must adhere to and which prohibits  payment of
dividends or like distributions without the consent of Brown Brothers.  Absent a
material  adverse  change or event of default as determined  by Brown  Brothers,
Brown  Brothers  has agreed to provide the Company  with a 120-day  notification
period  prior to issuing a demand for  repayment,  so long as the  Company is in
compliance with certain financial and operating guidelines. For the three months
ended  September 30, 2000, the Company was not in compliance  with the guideline
relating to the formula of earnings before  interest,  depreciation and taxes to
interest  expense.  As a result,  Brown  Brothers has the right under the credit
agreement to demand immediate  repayment of all amounts  outstanding without the
otherwise applicable 120-day notice period. At November 10, 2000, Brown Brothers
had not demanded such repayment.

        Spectrum has a revolving credit agreement with Bank of America  pursuant
to which Bank of America  agreed to provide  Spectrum  with a credit facility of
up to  $10,000,000  subject to adjustments as defined in the agreement. The loan
agreement   allows   for  borrowings  based  on  the  lesser of $10,000,000 or a
percentage of eligible  inventories and accounts receivable or 50% of the market
value of GMAI stock pledged as collateral. The Company pays an  annual  fee  for
the  facility  equal to one  quarter of one  percent of the total amount of such
facility. Borrowings under this facility bear interest at Bank of  America  base
rate,  which  was  8.25 %  at June 30, 2000 and 9.5% at September  30, 2000. The
credit facility expires on March 1, 2001 and is personally  guaranteed  by  Greg
Manning who has pledged  700,000 shares of the Company owned  personally by  Mr.
Manning.  Additionally,  the  line  is  collateralized  by  all of the assets of
Spectrum and is  guaranteed  by GMAI. In  connection  with this  agreement,  the
Company pays Mr.  Manning a guarantee  debt fee that is based on 3% per annum of
the average loan balance outstanding each month. Total borrowing under this line
of credit totaled $6,350,000 at June 30, 2000 and September 30, 2000.

(6) Supplementary Cash Flow Information

         Following is a summary of supplementary cash flow information:
                                                    Three Months Ended
                                                       September 30,
                                            ------------------------------
                                                  1999           2000
                                              -----------    ------------
             Interest paid                    $ 341,424      $   300,034
             Income taxes paid                    1,222            3,872

      Summary of significant non-cash transactions:

              Income Tax effect of the        $  51,250       $   58,188
                exercise of options

              Issuance of shares related
              to the acquisition of GMD.           -             116,316



<PAGE>



Item 2. Management's Discussion and Analysis of Financial Condition and Results
        of Operations.

         This Report contains  forward-looking  statements within the meaning of
Section 27A of the  Securities  Act of 1933 and  Section  21E of the  Securities
Exchange Act of 1934,  including,  without limitation,  statements regarding the
Company's  expectations,  beliefs,  intentions  or  future  strategies  that are
signified  by the words  "expects",  "anticipates",  "intends",  "believes",  or
similar language.  All forward-looking  statements included in this document are
based on  information  available  to the  Company  on the date  hereof,  and the
Company  assumes no  obligation to update any such  forward-looking  statements.
Actual   results   could  differ   materially   from  those   projected  in  the
forward-looking  statements.  In evaluating the Company's business,  prospective
investors should carefully  consider the information set forth below, and in the
Company's Form 10-KSB, and in its Proxy Statement, filed with the Securities and
Exchange  Commission on October 30, 2000 and Form S-3 filed with the  Securities
and  Exchange  Commission  on  November  8,  2000,  in  addition  to  the  other
information set forth herein.  The Company cautions  investors that its business
and financial performance are subject to substantial risks and uncertainties.

         Effective  February 18, 2000,  the  Company's  acquisition  of Spectrum
Numismatics  International,  Inc. ("Spectrum") was consummated.  The acquisition
has been accounted for using the pooling of interests  method of accounting.  In
accordance  with  Generally  Accepted  Accounting  Principles,   the  historical
financial statement  information presented below, both for the prior fiscal year
as well as the current  fiscal year,  has been  restated to include the balances
from Spectrum's  financial  statements as if the acquisition had been made as of
July 1, 1999.

Results of Operations

General

        The Company's  revenues are  represented  by the sum of (a) the proceeds
from the sale of the Company's  inventory,  and (b) the portion of sale proceeds
from  auction or private  treaty that the  Company is  entitled to retain  after
remitting  the  sellers'  share,  consisting  primarily of  commissions  paid by
sellers and buyers. Generally, the Company earns a commission from the seller of
5% to 15%  (although  the  commission  may  be  slightly  lower  on  high  value
properties) and a commission of 10% to 15% from the buyers.

         The Company's  operating  expenses  consist of the cost of sales of the
Company's  inventory  and  general and  administrative  expenses  and  marketing
expenses  for the three months ended  September  30, 1999 and 2000.  General and
administrative expenses are incurred to pay employees and to provide support and
services  to  those  employees,  including  the  physical  facilities  and  data
processing.  Marketing  expenses  are  incurred to promote  the  services of the
Company to sellers and buyers of  collectibles  through  advertising  and public
relations,  producing  and  distributing  its auction  catalogs  and  conducting
auctions.

Three months ended September 30, 2000
Compared with the three months ended September 30, 1999

         The Company  recorded a decrease in net  revenues  of  approximately  $
801,000  (5%)  from  approximately  $  15,208,000  for the  three  months  ended
September  30, 1999 to  approximately  $14,407,000  for the three  months  ended
September 30, 2000.

         Sales of  owned  inventory  decreased  during  the  current  period  by
approximately  $  1,014,000  (7%)  and  was  partly  offset  by an  increase  in
commissions  earned of approximately $ 213,000 (17%),  reflecting an increase in
sales of consigned  material.  Most of the decrease in sales of owned  inventory
was the result of decreased coin sales by Spectrum and  Teletrade,  reflecting a
general decrease in the market for collectible coins. It is management's  belief
that the malaise in the collectible  coin market is temporary and should recover
in the third quarter.

         Gross profit increased  approximately $ 118,000 (5%) from approximately
$ 2,345,000  for the three months ended  September 30, 1999 to  approximately  $
2,462,000 for the three months ended  September 30, 2000.  Gross profit  margins
increased  from 15% to 17% for the three  months  ended  September  30, 1999 and
2000, respectively.

         The Company's  operating  expenses  increased  approximately  $ 316,000
(11%) during the three months ended  September  30, 2000 as compared to the same
period in the prior year.  Marketing expenses  increased  approximately $ 56,000
(10%),  depreciation and  amortization  increased  approximately  $132,000 (57%)
(primarily  due to goodwill  amortization  relating to GMD),  salaries and wages
increased  approximately $ 112,000 (10%) and general and administrative expenses
increased  approximately  $31,000 (3%). These increases reflect the execution of
the Company's  strategic plan to develop and implement:  a marketing strategy to
increase sales and company awareness,  and; the infrastructure of the Company to
react to the remarkable growth  experienced by the Company during the past three
years.

         These increased costs, in combination with revenue  decreases,  had the
effect of increasing  operating costs as a percentage of operating  revenue from
20% during the three months ended  September 30, 1999 to 23% for the same period
ended September 30, 2000.  However,  as compared to aggregate sales, these costs
only marginally increased from 14.0% in September 1999 to 14.6% in 2000.

         Interest  expense  (net of interest  income) for the three months ended
September 30, 2000 decreased  approximately  $3,000 from approximately $ 177,000
to approximately $ 174,000.

         The  Company's  effective  tax rate for the three month  periods  ended
September 30, 1999 and 2000 were  approximately 45% and 32%,  respectively.  The
difference primarily relates to a valuation allowance provided for net operating
loss  carryforwards.  This  rate may  change  during  the  remainder  of 2001 if
operating results or acquisition related costs differ significantly from current
projections.

         The Company's  increase in operating losses of approximately $ 199,000,
coupled  with an increase  in losses  from  operations  of equity  investees  of
approximately  $ 218,000,  resulted in an increase in net losses  before  income
taxes of  approximately  $ 427,000 for the  current  three  month  period,  from
approximately $ 896,000 to approximately $ 1,323,000 for the three  months ended
September 30, 1999 and 2000, respectively.

 Liquidity and Capital Resources

         At September  30, 2000,  the  Company's  working  capital  position was
approximately $14,155,000, compared to approximately $ 15,900,000 as of June 30,
2000. This decrease of  approximately  $1,745,000 was primarily due to decreases
in inventory of  approximately $ 1,112,000,  prepaid expenses of approximately $
53,000 and  increases in demand notes payable of  approximately  $ 3,220,000 and
amounts payable to third party consignors of approximately $ 988,000. These were
partly offset by increases in accounts receivable of approximately $ 947,000 and
cash of  approximately $ 430,000,  and decreases in accounts payable and accrued
expenses of  approximately  $  1,616,000  and  advances  from  related  party of
approximately $ 550,000.

         The  Company  experienced  a  decrease  in  cash  flow  from  investing
activities  for the three months ended  September  30, 2000 of  approximately  $
405,000.  This was primarily  attributable  to the  acquisition  of property and
equipment and other purchased intangibles.

         The  Company  experienced  an  increase  in cash  flow  from  financing
activities  for the three months ended  September  30, 2000 of  approximately  $
2,848,000.  This was  primarily  attributable  to the proceeds from demand notes
payable of approximately $ 3,220,000, which was partly offset by the purchase of
treasury stock of approximately $ 713,000.

         The Company's  need for  liquidity  and working  capital is expected to
increase as a result of any proposed business expansion activities.  In addition
to the need for such capital, and to enhance the Company's ability to offer cash
advances  to  a  larger  number  of  potential  consignors  of  property  (which
management  believes  is an  important  aspect of the  marketing  of an  auction
business).  In addition,  the Company  will likely  require  additional  working
capital  in the future in order to further  expand its sports  trading  card and
sports memorabilia auction business as well as to acquire  collectibles for sale
in the Company's business.

         Management   believes  that  the  Company's   cash  flow  from  ongoing
operations  supplemented by the Company's working capital credit facilities will
be adequate to fund the Company's  working capital  requirements for the next 12
months.  However, to complete any of the Company's proposed expansion activities
or to make any  significant  acquisitions,  the Company may  consider  exploring
financing   alternatives   including   increasing  its  working  capital  credit
facilities or raising additional debt or equity capital.

         The decision to expand, the desired rate of expansion, and the areas of
expansion will be determined by management and the Board of Directors only after
careful  consideration of all relevant factors.  This will include the Company's
financial  resources and working capital needs,  and the necessity of continuing
its growth and position in its core business area of stamp auctions.

Risk Factors

         From time to time,  information provided by the Company,  including but
not limited to  statements  in this report,  or other  statements  made by or on
behalf of the  Company,  may contain  "forward-looking"  information  within the
meaning of Section  27A of the  Securities  Act of 1933 and  Section  21E of the
Securities  Exchange Act of 1934. Such statements  involve a number of risks and
uncertainties.  The Company's actual results could differ  materially from those
discussed in the forward-looking statements. The cautionary statements set forth
below  identify  important  factors  that could cause  actual  results to differ
materially from those in any forward-looking  statements made by or on behalf of
the Company:

o             At times there may be a limited supply of  collectibles  available
              for sale by the Company, and such supply varies from time to time.
              While  the  Company  generally  has  not  experienced  a  lack  of
              collectibles  that has prevented it from conducting  appropriately
              sized  auctions on an  acceptable  schedule,  no assurance  can be
              given  that the  Company  will be able to obtain  consignments  of
              suitable  quantities of collectibles in order to conduct  auctions
              of the size,  and at the  times,  the  Company  may  desire in the
              future.  The  Company's  inability  to do so would have a material
              adverse effect on the Company.

o             The development and success of the Company's business has been and
              will continue to be dependent  substantially  upon its  President,
              Chairman  and  Chief   Executive   Officer,   Greg  Manning.   The
              unavailability  of Mr.  Manning,  for  any  reason,  would  have a
              material   adverse  effect  upon  the  business,   operations  and
              prospects of the Company if a suitable replacement is not engaged.

o    The Company  frequently grants credit to certain purchasers at its auctions
     permitting  them to take immediate  possession of auctioned  property on an
     open account basis,  within  established credit limits, and to make payment
     in the future,  generally  within 30 days.  This practice  facilitates  the
     orderly  conduct  and  settlement  of auction  transactions,  and  enhances
     participation  at the  Company's  auctions.  In such events,  however,  the
     Company is liable to the seller who  consigned  the property to the Company
     for the net sale  proceeds  even if the buyer  defaults  on  payment to the
     Company.  While this  practice has not resulted in any material loss to the
     Company,  the dollar volume of the Company's  potential  exposure from this
     practice could be substantial at any particular point in time.

o    The  business of selling  stamps and other  collectibles  at auction and in
     retail sales is highly  competitive.  The Company competes with a number of
     auction houses and collectibles  companies throughout the United States and
     the world.  While the Company believes that there is no dominant company in
     the stamp auction or collectibles business in which it operates,  there can
     be no  assurances  that other  concerns  with greater  financial  and other
     resources and name recognition will not enter the market.

o    The  Company  may be  adversely  affected  by the costs  and other  effects
     associated with (i) legal and  administrative  cases and proceedings;  (ii)
     settlements,  investigations,  claims and changes in those items; and (iii)
     adoption of new, or changes in,  accounting  policies and practices and the
     application of such policies and practices.

o    The  Company's  results of  operations  may also be affected by the amount,
     type and cost of financing which the Company maintains,  and any changes to
     the financing.

o    The Company's  operations and future cash flows would be adversely affected
     if it cannot maintain adequate lines of credit to fund its operations.

o    The  Company  intends to consider  appropriate  acquisition  candidates  as
     described in "Future Planned Expansion"  herein.  There can be no assurance
     that  the  Company  will  find or  consummate  transactions  with  suitable
     acquisition candidates in the future.

o    The  Company's   operations  may  be  adversely  affected  by  governmental
     regulation  and  taxation of the  Internet,  which is subject to change.  A
     number of  legislative  and regulatory  proposals  under  consideration  by
     federal, state, local and foreign governmental  organizations may result in
     there  being  enacted  laws  concerning  various  aspects of the  Internet,
     including  online  content,  user privacy,  access  charges,  liability for
     third-party  activities,  and jurisdictional  issues. These laws could harm
     our  business  by  increasing  the  Company's  cost of  doing  business  or
     discouraging use of the Internet

o    The Company's business will be adversely affected if use of the Internet by
     consumers,  particularly  purchasers of collectibles,  does not continue to
     grow. A number of factors may inhibit  consumers  from using the  Internet.
     These  include  inadequate  network   infrastructure,   security  concerns,
     inconsistent  quality of service  and a lack of  cost-effective  high-speed
     service. Even if Internet use grows, the Internet's  infrastructure may not
     be able  to  support  the  demands  placed  on it by  this  growth  and its
     performance and reliability may decline.  In addition,  many Web sites have
     experienced  service  interruptions as a result of outages and other delays
     occurring  throughout  the  Internet  infrastructure.  If these  outages or
     delays occur frequently in the future, use of the Internet,  as well as use
     of the Company's Web sites, could grow more slowly or decline.

o    A number of legislative  and regulatory  proposals under  consideration  by
     federal, state, local and foreign governmental  organizations may result in
     there  being  enacted  laws  concerning  various  aspects of the  Internet,
     including  online  content,  user privacy,  access  charges,  liability for
     third-party  activities,  and jurisdictional  issues. These laws could harm
     the  Company's  business  by  increasing  its  cost of  doing  business  or
     discouraging use of the Internet.

              In addition,  the tax  treatment  of the  Internet and  electronic
              commerce is currently  unsettled.  A number of proposals have been
              made that could result in Internet activities,  including the sale
              of goods and services,  being taxed.  The U.S.  Congress  recently
              passed the Internet Tax Information Act, which places a three-year
              moratorium  on new  state and local  taxes on  Internet  commerce.
              There may, however,  be enacted in the future laws that change the
              federal,  state or local tax  treatment  of the  Internet in a way
              that is detrimental to our business.

               Some  local   telephone   carriers   claim  that  the  increasing
              popularity   of   the   Internet   has   burdened   the   existing
              telecommunications  infrastructure  and that many  areas with high
              Internet use are experiencing  interruptions in telephone service.
              These  carriers  have   petitioned   the  Federal   Communications
              Commission to impose access fees on Internet service providers. If
              these access fees are imposed,  the cost of  communicating  on the
              Internet  could  increase,  and this could decrease the demand for
              the Company's services and increase its cost of doing business.

o    The Company holds rights to various Web domain names. Governmental agencies
     typically  regulate domain names.  These regulations are subject to change.
     The Company may not be able to acquire or maintain appropriate domain names
     in all countries in which it or its  affiliates  do business.  Furthermore,
     regulations governing domain names may not protect the Company's trademarks
     and similar  proprietary rights. The Company may be unable to prevent third
     parties from acquiring  domain names that are similar to,  infringe upon or
     diminish  the  value of the  Company's  trademarks  and  other  proprietary
     rights.

o    The  Company  cannot  accurately  forecast  revenues of its  business.  The
     Company may experience significant  fluctuations in its quarterly operating
     results.  Future  fluctutations in operating results or revenue  shortfalls
     could adversely affect the success of the Company.

o    The popularity of collectibles could decline.  This could affect the market
     value of inventory the Company currently holds or may hold in the future.

o    Our significant  growth has placed  substantial  pressures on our personnel
     and systems.  In order to support this growth,  we have added a significant
     number of new operating procedures,  facilities and personnel.  Although we
     believe this will be sufficient to enable us to meet our growing  operating
     needs,  we cannot be certain.  In addition,  acquisition  transactions  are
     accompanied by a number of risks, including:

     -  the difficulty of assimilating the operations and personnel of the
        acquired companies;

     -  the potential disruption of the Company's ongoing business and
        distraction of management;

     -  the difficulty of incorporating  acquired  technology or content and
        rights into the Company's products and media properties and
        unanticipated  expenses related to such integration;

     -  the  negative  impact  on  reported  earnings  if any  transactions that
        are expected to qualify for pooling of  interest  accounting   treatment
        for  financial reporting purposes fail to so qualify;

     -  the impairment of relationships with employees and customers as a result
        of any integration of new management personnel; and

     -  the potential unknown liabilities associated with the acquired
        businesses.





<PAGE>


Item 3. Quantitative and Qualitative Disclosures About Market Risk

          Market risk  represents the risk of loss that may impact the financial
position,  results of  operations  or cash flows of the  Company  due to adverse
changes in  financial  market  prices,  including  interest  rate risk,  foreign
currency  exchange rate risk,  investment  risk,  commodity price risk and other
relevant market rate or price risks.

         The  Company  currently  has no  activities  that  would  expose  it to
interest rate or foreign currency exchange rate risks.

Investment  Risk. The Company  maintains  investments  in equity  instruments of
public and privately held companies for business and strategic  purposes.  These
investments are included in marketable securities and other long-term assets and
are accounted for under the cost method when  ownership is less than 20% and the
Company  does  not have the  ability  to  exercise  significant  influence  over
operations.  For these investments,  the Company's policy is to regularly review
the assumptions  underlying the operating performance and cash flow forecasts in
assessing the carrying  values.  The Company  identifies and records  impairment
losses on  long-lived  assets when events and  circumstances  indicate that such
assets might be impaired.

Commodity  Price Risk. The Company may, at times,  be exposed to commodity price
risk on certain inventory products.  The Company  historically and currently has
not experienced any significant commodity price risks.




<PAGE>


                  GREG MANNING AUCTIONS, INC.

Part II - OTHER INFORMATION




Item 1. Legal Proceedings

                  None

Item 2. Changes in Securities

                  None

Item 3. Defaults Upon Senior Securities

                  None

Item 4. Submission of Matters to a Vote of Security Holders

                  None

Item 5. Other Information.

                  None

Item 6. Exhibits and Reports on Form 8-K

                  (a) Exhibits

                           27  Financial Data Schedule

                  (b) Reports on Form 8-K

                           None




<PAGE>



                                   SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Company  has duly  caused  this  report to be  signed on its  behalf by the
undersigned thereunto duly authorized


                                                 GREG MANNING AUCTIONS, INC.

Dated:  November 14, 2000
                                                    /s/  Greg Manning
                                                 -----------------------------
                                                    Greg Manning
                                           Chairman and Chief Executive Officer



                                                    /s/  James Smith
                                                ------------------------------
                                                     James Smith
                                                     Chief Financial Officer





<PAGE>




                                  EXHIBIT INDEX





Exhibit
No.               Description
-------- ------------------------------------------

27       Financial Data Schedule