Saturday, June 23, 2007



A few days ago some friends and I went to Castells & Castells Casa de Remates [Galicia 1069], a big auction house in Montevideo near the old train station. They went to bid on a marble dining room table and I went to watch. It was interesting to see all the different things for sale and to watch the bidders.

I've never seriously studied auction theory but concepts like the winner's curse are intriguing.

See a short video of the auction:

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When we lived there, my wife started going to the weekly (estate) autions at the main remate houses (Castells, Gomensoro and one in the Cuidad Vieja). She enjoyed looking at the range of things available, and did find that things usually go for a little less at the end of a month when people run out of money. Once we ended up saving our landlord hundreds of dollars, if not more, by buying a replacement bedroom set in one of these autions. Do beware of the dealers, because they "help" bid the prices up.

After a while we started going to the cataloged autions as well. Wow, what selections of antiques, silvers, paintings and everything else. Yeah, we bought more than a few things. But we went to the autions enough times that the autioneers know us by sight, having met them on the streets of MVD and in Punta del Diablo on several occasions.
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