This is the crux of it with JM auctions I think. I could be totally off the mark, but are quite a number of his buyers collectors from overseas maybe? Perhaps less so for the really big ticket, genuinely hard to find stuff which might attract some of the big ticket collectors/DJs etc over here. But in the case of JM's regular customers abroad, does a lot not come down to provenance, quality and reputation (not to say that other dealers are not reputable, like you Pete). I think all that happens is folk clock the JM auction results and put items up in the hope some of the stardust will land - nothing wrong with that. Then it all settles back down again once the excitement is over.