Scott, Your comment below is not exactly correct.
" Martin Donnelley runs the largest internet old tool auction in the country. He sets opening bids at over twice the national average, more times than not.
And the tools mostly sell for even more than that, at the end."
While it is true that he runs the largest old tool auction in the country, it is not correct that he sets opening bids at "over twice the national average, more times than not". By the way, where do I find a "national average" price list for old tools?
First off, Martin is not the auctioneer, he has two people that do that for him. While his catalog shows a high and low price, they in know way have anything directly to do with the starting bids. Many of the opening bids are determined by the absentee bidder's. From what I observed in July, and again in Sept., about 30-40% of the items went absentee.
There were more than a few items that sold for much less than the low estimate, as well as many that sold for more than the high estimate. It is an auction, if you want the item, then you must pay the price.
The unfortunate part of these large auctions is that they attract a large amount of bidders, some of whom have very deep pockets.
And yes I have bought items at his auctions, and sold items thru them.