I would also like to add that I have been doing this for a few years now and I do it as a hobby but I make great investments in the process. Most of the auctions I go to are live auctions where you can see what it is you are bidding on and beforehand I do my homework on items so I know exactly what they are worth and make my limit. That is pretty obvious to most of us but some people just dont understand that this isnt about finding furniture for your house or nice stuff to have... this is a business that makes a Boat Load of Money.
I finally realized what it is about this that I enjoy so much and the line I am going to use from now on is this, "This is a competitive treasure hunt".