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It's a blend of show and intimidation...

Posted by Ward-CA- on December 21, 2003 at 9:35 AM

In Reply to: Ward, question... posted by Stephen - CA on December 21, 2003 at 1:15 AM

: Ward,

: Is this Peter guy one of your graduates? I've also noticed his excessive bidding at the Norwalk sales. How could anyone make any money buying all these properties at "retail" prices?

=================

Stephen,

No, Peter Baer isn't one of my grads. But he's been around for a long, long time so I don't think he's going away anytime soon.

I don't Peter is any worse than a lot of the other bidders who bid right along with him to such high levels.

The difference between Peter, Gregg, Vijay, et al and most of the other bidders is that they have deeper pockets.

Most of the excessive bids are meant to intimidate competitors. Newbies won't bother to go to the sales as often when Peter's there. So Peter picks up a lot of properties uncontested!


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