A (usually annual) gathering of old, stinky, unwashed, and severely overweight men (with a limited number of women, usually of the same qualities) where antiquated and largely useless radio equipment is bought, sold, and traded, usually at exorbitantly high prices.
While some hamfests are useful for finding odd parts and rare equipment, many have degraded in quality over the years and are not worth going to any more.
I was at this one hamfest in Bowie, MD and this hambone picked up a simplex repeater and said, "Duh, so it records the radio, TTX?"
h4mb0n3-1: Man, did you go to the Vienna hamfest this year, the one at NOVA?
h4mb0n3-2: No way, d00d, that hamfest is not as good as it used to be.
An annual ham radio festival that includes a flea market, prizes, and seminars.