Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1893-02-11
AucTloHsEalsa poDaEs.
Schemes of the sharp and shrewd .
Beat the Man on IN. Biack.

Schemes of the sharp and shr.wd %
Beat the Man on the Bleck.
Very few people are aware, when going
TO an auction, that there exists among the
furniture dealers, and other gentlemen Of
their kidney" who patrsniEe these places
what is known TO those In the swim as a
ring"
On arriving at a furniture sale these
WORTHLESS agree not to bid against each
other.
Suppose a rather valuable antique sofa
(which. II we may trust to the yoluble
eloquence of the auctioneer, was made by
Noah at about the same time he built the
ark was put up. One OF the ring, we will
call him A, wants just such an article.
The sofa is worth perhaps couple Of SOW
ereigns.
A bids for II, and all the other dealers
are silent. After "A few bids from the ven
cradle old danes who frequent these auc
lions, IL Is knocked down 20 him for FIVE
and twenty shillings. When a few more
lots are disposed OF fnc old armchair IL
brought out, which Is purchased under
the same conditions by b, also OF the ring.
Each Of these worthless knows perfectly
well what each article Is worth, but under
the principle that there is honor among
thieves, none Of the dealers ever bid
against one another.
When the sale is over all the ring repair
10 some out Of the way place A then puts
up the sofa which was knocked down TO
him at five and twenty shillings. ID raises
the price to twenty six shillings, placing
the shilling into the pool" c follows
suit and adds his shilling. The others keep
on bidding until a fair sum Is reached, when
the article Is knocked down TO the highest
bidder, who pays A the original sum he
paid for the sofa ut the auction. The other
money IL left in the pool. All the pur.
chases are dealt with In n similar manner.
When all are disposed Of. the money in the
pool, which by this time amounts Of course
to a considerable sum, IL equally divided
among the members OF the ring
1t may he asked: "Why ia such great
deal OF trouble taken' Why could not the
goods at once become the property Of the
buyer" IL must, however, he remem-
bered that the policy Of such men is ''dia.
mond cut diamond" with vengeance
and division Of profits among themselves
instead Of the auctioneer getting the bene
fit, is naturally more likely to conduce &c
the advantage OF them ALL
Should one broker by mistake at the auc
tion bid more for an article than II Is after
ward found To be worth. the ring share the
loss in the same manner rs they share the
profits. This. however, very seldom &C
ours.
II may he thought the auctioneer does
not eagerly seek the bids OF these gentry
This is often the case, and when their bids
are really too absurdly low he runs NJ
the price by the aid of imaginary bidders
But the brokers will not go any further
than they think will answer their purpose
and the lot Is bought in by the auctioneel
himself.
, To make private purchasers transact
their business through them these dealer.
will frequently bid against him or her
and run the article mp TO about treble IL,
real value. Had the purchaser "tippet
, the wink" TO one Of their number he would
most probably. for reasons have STATED
, above. have been able to obtain IL at I
, much lower figure. The article would b
put up again In the same way by th'
, broker, and would make, say, thirty shil
, lings. The broker would most likely
| charge his client two guineas and poke
the difference. besides taking his share o
the pool.-London Tit. Bits.