8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                       ----------------------------------


                                    FORM 8-K

                                 CURRENT REPORT
                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934


         Date of Report (Date of earliest event reported): June 17, 2002

                                   ----------


                           GREG MANNING AUCTIONS, INC.
             (Exact name of registrant as specified in its charter)



           Delaware                     1-11988                  22-2365834
(State or Other Jurisdiction of   (Commission File Number)    (I.R.S. Employer
 Incorporation or Organization)                              Identification No.)



          775 Passaic Avenue,
       West Caldwell, New Jersey                                   07006
    (Address of Principal Executive                              (Zip Code)
               Offices)


       Registrant's telephone number, including area code: (973) 882-0004




Item 5.  Other Events.

      On June 17, 2002, Greg Manning Auctions, Inc., a Delaware corporation, and
Afinsa Bienes Intangibles S.A., a Spanish corporation ("Afinsa"), issued a joint
press release announcing a non-binding letter of intent relating to the sale of
substantially all of Afinsa's non-investment collectibles business, currently
operated primarily through Auctentia, S.A., a wholly owned subsidiary of Afinsa.
The press release referenced above is filed as an exhibit to this Form 8-K.

Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits.

          (c)   Exhibits

      Exhibit No.       Description
      -----------       -----------

      99.1              Press Release dated June 17, 2002.




                                    SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, Greg
Manning Auctions, Inc. has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.

Date: June 18, 2002



                                    GREG MANNING AUCTIONS, INC.


                                    By: /s/ Greg Manning
                                       --------------------------------------
                                       Greg Manning
                                       Chairman of the Board, Chief Executive
                                       Officer and President



                                  Exhibit Index

      Exhibit No.       Description
      -----------       -----------

      99.1              Press Release dated June 17, 2002.

EX-99

                                                                    EXHIBIT 99.1


FOR IMMEDIATE RELEASE
- ---------------------

Greg Manning Auctions, Inc.                    Afinsa Bienes Tangibles S.A
Larry Crawford                                 and Auctentia, S.A
Chief Financial Officer                        Esteban Perez
973-882-0004                                   Chairman of Auctentia
                                               34 91 576 7874
                                               34 91 535 7680
lcrawford@gregmanning.com                      esteban.perez@auctentia.com


Greg Manning Auctions, Inc. and Afinsa Bienes Tangibles S.A. Announce
Agreement in Principle for the Purchase and Sale of Certain Assets

WEST CALDWELL, N.J., and MADRID, Spain - June 17, 2002 - Greg Manning Auctions,
Inc. (NASDAQ: GMAI) and Afinsa Bienes Tangibles S.A. announced today that they
have entered into a letter of intent relating to the sale of substantially all
of Afinsa's non-investment collectibles business, currently operated primarily
through Auctentia, S.A., a wholly owned subsidiary of Afinsa, in exchange for
shares of GMAI's common stock. The businesses to be sold to GMAI include
businesses focused on philatelic and numismatic collecting, including, among
others, Afinsa Auctions, Heinrich Kohler and de Rosa Group International;
businesses focused on the fine arts market, including, among others, art
galleries and Finarte Espana Auction; as well as the online operations of
Centrodearte, DooCollect and Mercart. If the deal is consummated, the combined
company will be one of the world's largest collectibles companies, focusing on
the purchase and sale of stamps, coins, fine art, antiques, rare books, sports
cards, movie posters and other collectibles, through multiple platforms,
including live event auctions, retail and wholesale venues, galleries and shops,
Internet auctions, Internet retail sales and content sites, with operations in
the United States, Europe and Asia.

It is expected that, subject to valuations, GMAI will acquire assets with an
aggregate value of approximately $26 million, in exchange for 13 million shares
of stock of GMAI. On this basis, after the transaction is complete, Afinsa will
own approximately 70% of the outstanding stock of GMAI. Afinsa, through
Auctentia, currently owns approximately 41% of GMAI.

Greg Manning, Chairman and Chief Executive Officer of GMAI, stated, "The merger
of operations and assets of Auctentia and related Afinsa companies through this
acquisition will result in a multi-national, multi-faceted group of companies
with tremendous synergies. We are extremely excited about the prospects for GMAI
and Auctentia as the assets proposed to be acquired in this merger will greatly
strengthen GMAI. The intention of Afinsa to become our major shareholder on a
long-term basis, we believe, can only be accretive to the long-term future of
GMAI."

Juan Antonio Cano, Vice Chairman and Chief Executive Officer of the Afinsa
Group, stated, "We have been a major shareholder in GMAI since 1997 and have
steadily increased our holdings. Now we see an opportunity to, in effect, merge
our two companies by way of GMAI's purchase



of certain assets of Auctentia and Afinsa. Our goal is the creation of a
profitable global company and eventually to list on a European exchange as well
as the NASDAQ."

Esteban Perez, Chairman of Auctentia, commented, "We believe that the sum of
these parts will make a far greater single company moving forward. The financial
strength and European experience of Auctentia will, I believe, greatly augment
GMAI's strong United States business."

The letter of intent, which is non-binding, provides for the parties immediately
to start negotiating a definitive purchase agreement and complete the due
diligence process. It is expected that the transaction will close by December
31, 2002. The purchase agreement will contain usual and customary conditions to
closing, including obtaining shareholder approval of the transaction and any
required regulatory approvals. There can be no assurance that the proposed
transaction will be consummated, or if consummated, on the terms described
above.

About Greg Manning Auctions, Inc.
Greg Manning Auctions, Inc. (GMAI) is a global collectibles auctioneer and
merchant, with both Internet and live auctions and operations in North America
and Asia. In North America, GMAI is a leading traditional and electronic --
Internet, interactive telephone, and Internet and live simulcast -- auctioneer
and merchant/dealer of collectibles. Coins, stamps, sports cards, and affordable
fine art are offered at http://www.gregmanning.com and http://www.teletrade.com.
Greg Manning Direct, a wholly owned subsidiary, creates and mass-markets high
interest collectibles, targeting beginning collectors. The Company owns 45% of
GMAI-Asia.com, Inc., one of China's largest retailers of cell phones and one of
China's largest chain store retailers in general.

About Afinsa Bienes Tangibles S.A.
Afinsa Bienes Tangibles S.A. is one of the world leaders in trading and
investing in collectable tangible assets, mainly philatelic and numismatic
markets. Headquartered in Spain, Afinsa operates worldwide and maintains a
presence in China and other major countries in Europe and North America.
Auctentia, S.A., a wholly-owned subsidiary, provides intermediation for high
level collectors, with auctions and sales in collectable assets both through
Internet and live auctions. Auctentia owns approximately 41% of GMAI.

Statements in this press release that relate to future plans, objectives,
expectations, performance, events and the like are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995 and
the Securities Exchange Act of 1934. Future events, risks and uncertainties,
individually or in the aggregate, could cause actual results to differ
materially from those expressed or implied in these statements. Factors which
may cause such differences include the risk that the negotiation and execution
of definitive documents, the completion of due diligence to each party's
satisfaction, the receipt of necessary approvals and the satisfaction of all
other conditions to the proposed transaction may not be accomplished, and other
factors discussed in the "forward-looking information" or "risk factors"
sections included in GMAI's filings with the Securities and Exchange Commission,
including GMAI's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q,
prospectuses and other documents that GMAI has filed with the Commission.