I attended the bicycle part of the auction in Chicago on Saturday. There were only perhaps 30 people in attendance there bidding and a few people bidding over the telephone. The bikes that sold seemed to me to be mostly fat-tired vintage stuff, and only if the prices were fairly low. The high estimates for so many of the bikes that interested me, I think, discouraged bidding. Also, many items did not meet their high reserves. For example, the 1938 Hetchins was started at $3600 and seemed to have a reserve of $4000. I don't believe that anyone bid the starting amount. As with many auctions, dynamics are a big part of successful selling. In this case after so many lots went unsold I think that there was less interest on the part of the potential buyers.
David Cooper
Chicago, Illinois