true
Kai - I'll agree that the auction houses deliberately low ball their estimate ranges to bring more punters in the door. 'English understatement' is a nice euphemism for the practice. I bid on an item in the Christensen sale and was doubtful of my chances even at 2x the high estimate. I was not even the underbidder and it went for 6x.
freebooter - Congratulations; I'll look forward to seeing your new acquisition.
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