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J&R is auctioning off the contents of their now-closed retail store in NYC (having gone online-only).  The auction is Tues. 5/13 and Wed. 5/14 at the store location.  Link 

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are they auctioning individual pieces or the lot? also, what does it means 15% buyer premium.. thanks

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Means you pay a 15% service charge. It's a way to gouge more money out of you.

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It's a two day auction. If they were selling it off as a lot then it would be a one hour auction. That doesn't mean that they couldn't possibly bundle things together (i.e. "lot of 10 LCD TV's").  With these sort of auctions there may or may not be bargains.  Items can go for too much money if the bidding gets frenzied.

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I go to this Auctioneer's auction on regular basis and i must say that this guy is the best, most honest auctioneer i have dealt with. The auctions will be set up in lots, most likely 2-5 pieces per lot but when the auction is going on, they do give you option to take all the lots of that item or only take one lot(2-5 pieces). The 15% buyer premium means that you will pay 15% on top of the winning bid to the auctioneer, so say you win the auction at $100, you will pay $115+tax. If you have resale certificate than you don't pay tax but you still pay buyer's premium. Sometimes you get newbies bidding and they drive the prices so high that you can't make a profit. I will be going to this auction to get some good deals hopefully. 

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bd said:   .......................... With these sort of auctions there may or may not be bargains.  Items can go for too much money if the bidding gets frenzied.
 

  LO!L Good luck to anyone who attends You would stand a better chance getting struck by lightning twice during the auction that actually getting a deal at this sucker sale. Plus you have to add a 15% buyers premium and mandatory 8.875% NY/NYC sales tax to be collected at all auction sales of retailer inventory sold within NYC . Also despite the auctioneers claims on their site that this sale is brand new in box merchandise, most remaining inventory is either open box customer returns or obsolete electronic surplus they could not return to vendors or sell during their liquidation sale that started 5 months ago. 

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Whatever you do, don't buy out their stock of Netgear Routers! You might get sued when you sell them.

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I might take a trip down there on the 13th just to see what's up. I worked there twice for about three years each (5 or 6 years total) in the late 90's through 00. Kind of just want to see what kind of weird stuff they still have for sale. That place was like a museum of electronic oddities that nobody knew about. There was so much stuff hidden away that they didn't know what to do with; I'll bet a lot of it makes it into this auction.

I've never been to an auction like this, though - any tips from those who have?

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