@Batman23 said:
I would be surprised if Ian would comment. Sniping tends to cause some lower final prices. At least in my opinion.
It would cause some higher ones, since I would then bid.
Interesting theory you have. And of course dependent on your snipe amounts. I am sure with two competing nuclear snipes there will be some high, just like with a lack of competitive steady bidding there will be some low.
I normally bid a modest token bid early to show interest and then I enter my snipe in the last moments. My Theory is that I can snipe and win at a lower amount (as long as I outbid the high bid's hidden max) than if I bid high in the beginning and wait to see if someone else out bids me.
Either way, If I see something I like I will bid. I also find some satisfaction in personally clicking in my snipe amount and seeing the you won notice a few seconds later.
The thing I find wrong with the site is there is no clock run down like ebay that I have found. If there was a clock run down I would probably bid more often.
@Fairlaneman said:
The thing I find wrong with the site is there is no clock run down like ebay that I have found. If there was a clock run down I would probably bid more often.
Ken
Yes there is a clock run down always has been
All I have been able to find is the clock rundown that you have to refresh the page each time to change it. What am I missing?
@Fairlaneman said:
The thing I find wrong with the site is there is no clock run down like ebay that I have found. If there was a clock run down I would probably bid more often.
Ken
Yes there is a clock run down always has been
All I have been able to find is the clock rundown that you have to refresh the page each time to change it. What am I missing?
Ken
You're right. I had to keep refreshing the screen when it go down under a minute. If system running slow, you may lose the coin cause of slower refresh rates. I snipped at about 10 seconds, and won the coin.
I won a common gold dollar in last night's GC auction...hard to believe that a 150+ year old gold coin from a defunct southern mint is worth less than $250!!!
I did a "manual snipe" at just under one minute to go...I find that there isn't a lot of last minute sniping activity on GC auctions...a significant amount of bids in the final few hours...just not many at the very end...and the last minute snipes at GC take a little longer to go thru for some reason...so I like to allow a little extra time...
I just let my old Teletrade skills kick in. In those days would buy stuff off TTR to retail st shows.
I access my watch list slightly before close. I don’t want get in a bidding war with some collector. I am seeking items to retail.
I may have a number of items selected and go with what can win at my price. Let’s say you have 2 1946 BTW CAC 50c one pcgs 65 CDN 60 and one NGC 66 CDN 125 on wantlist as this auction focus is on commems you selected. You have already won a couple of other commem issues now it’s desert time. Both are currently 50-60 pct of bid. You bid on the 65 (has tad nicer toning) but another bidder takes it above bid bumping u out be ready pounce on the 66 chances good you will take it for good pickup. Be ready act fast. I do homework days before. It helps if this area y specialist at. I have copy of Harry Laibstains 1995 book - certified commems on my desk along w My CDN. Harry’s book the best book / reference manual ever on commems.
In the aggregate, sniping will always help the bidder and hurt the seller. For a thousand years, before the advent of digital auctions, the underbidder always had a chance to challenge the late high bidder.
The dwindling number of quality coin auctions ending on a Sunday evening on Ebay is evidence that sellers are in retreat.
Auction houses should implement a 5 minute rule (meaning 5 minutes must elapse from the final bid after the scheduled lot closes for open bidding). This would eliminate sniping and maximize prices realized.
eBay is not an auction site (you may enter and withdraw your bids at will - a 'bid' on eBay represents no commitment whatsoever), so sniping is not as critical in this case. For eBay, if you feel you overbid, you simply withdraw the bid.
Alls fair as is. If a buyer is concerned about losing the coin they can put in something like CW Trends as a bid.
If seller concerned take control get eBay store / seller account.
Due to current market conditions many coins will have lackluster results at auction. I find many sellers have over inflated idea what their coins will bring on bourse / auction.
I usually have a good chance on bidding just before close on gc auctions, Now I put in token bids on a lot of stuff at times, but if something I really want, I usually have pretty good luck at bidding manually in the last 30 seconds at gc.
Two clever little snipers both entering nuclear bids at the last second will end up with a surprisingly large bill.
If you want to pay more than I do, you are welcome to it.
Sniping is just a game that makes you feel good but may or may not save you any money. You create as many problems as you solve:
In an orderly rolling-end auction, you can decide whether to place another bid if outbid. In a last second snipe, you can't get back in and raise your bid.
In an orderly auction, you generally bid by the increment although you can jump if you wish. In a snipe, you are forced to jump to your max and hope no one else jumps higher.
If your last second snipe is below someone's prior left bid, you have no advantage and no second chances. A snipe bid only helps you if you were ALWAYS going to be the higher bid OR if all the other snipers fell asleep at their keyboards. If I bid $1000 on an item that sits at $10 all week, you aren't going to win it with your $500 snipe. You're going to have to go to $1050. But my max is $1000 anyway, so I don't care.
Sniping is actually protecting you from yourself. If you are so obsessive that you can't possibly NOT win, then when you go to $1050, I'll go to $1100 and force you to $1200. [They call that an auction.] But that is only a problem if both of us refuse to lose. But if both of us refuse to lose, we are just as likely to place a $2500 nuclear bid at the last second guaranteeing that we land at an unhappy place anyway.
I personally think sniping is fine but generally accomplishes nothing. If you snipe a "$1000 coin" for "$500", it's probably not the snipe. It's probably that no one wanted to pay more than $500 for the coin.
@Coinstartled said:
In the aggregate, sniping will always help the bidder and hurt the seller. For a thousand years, before the advent of digital auctions, the underbidder always had a chance to challenge the late high bidder.
The dwindling number of quality coin auctions ending on a Sunday evening on Ebay is evidence that sellers are in retreat.
The difference without snipping is that there’s no need to put in need to put in a nuclear bid so you won’t get moon prices when two bidders nuke each other.
I asked Ian 2 months ago why they don’t have a running clock, his response was:
“Thank you for your e-mail. We did trial having a countdown in our early auctions, but found so many people tried to bid in the last second and ultimately missed out - so we changed our system to just have the time that the page loaded. You can click refresh to get the update if you want to see the right up to second time remaining.
Sincerely,
Ian”
Pros and cons for their vs the eBay method. You just need a different method to “snipe” on their site. Great Collections has great customer service by the way....
@specialist said:
We do not have any snipe program - although some clients try to manually bid in the last few seconds.
Regards,
Ian
yeah, if they are awake.....
@specialist
Laura, I like the soft close on your monthly auctions. It keeps things rolling but still allows bidding very similar to real world bidding.
BG
Posts: 1,762 ✭✭✭✭✭
Comments
I'm not aware of any, but if one exists I'd like to know as well. Hopefully Ian will chime in as I'm sure he knows.
ANA LM
USAF Retired — 34 years of active military service! 🇺🇸
I would be surprised if Ian would comment. Sniping tends to cause some lower final prices. At least in my opinion.
Hope not. GC is a great auction site. Do not need sniper pollution.
I just bought a gold coin more than $28 below melt .
I give away money. I collect money.
I don’t love money . I do love the Lord God.
No
Thanks for the reply's.
Won a coin I wanted the old fashioned way.
Great, it's time for show and tell. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken
Sniping is so much fun... the last saving grace on ebay....
Cheers, RickO
It would cause some higher ones, since I would then bid.
Interesting theory you have. And of course dependent on your snipe amounts. I am sure with two competing nuclear snipes there will be some high, just like with a lack of competitive steady bidding there will be some low.
I normally bid a modest token bid early to show interest and then I enter my snipe in the last moments. My Theory is that I can snipe and win at a lower amount (as long as I outbid the high bid's hidden max) than if I bid high in the beginning and wait to see if someone else out bids me.
Either way, If I see something I like I will bid. I also find some satisfaction in personally clicking in my snipe amount and seeing the you won notice a few seconds later.
We do not have any snipe program - although some clients try to manually bid in the last few seconds.
Regards,
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
Yeah but I still got that coin on Sunday.
At my max.
Interesting question, I'd like to know too !!!
The thing I find wrong with the site is there is no clock run down like ebay that I have found. If there was a clock run down I would probably bid more often.
Ken
All I have been able to find is the clock rundown that you have to refresh the page each time to change it. What am I missing?
Ken
You're right. I had to keep refreshing the screen when it go down under a minute. If system running slow, you may lose the coin cause of slower refresh rates. I snipped at about 10 seconds, and won the coin.
Went in my 1957 Colorful Proof Set.
Yeah, nice! Ben never looked better, that obv is great. Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken
I won a common gold dollar in last night's GC auction...hard to believe that a 150+ year old gold coin from a defunct southern mint is worth less than $250!!!
I did a "manual snipe" at just under one minute to go...I find that there isn't a lot of last minute sniping activity on GC auctions...a significant amount of bids in the final few hours...just not many at the very end...and the last minute snipes at GC take a little longer to go thru for some reason...so I like to allow a little extra time...
Can't snipe on a soft close.
I just let my old Teletrade skills kick in. In those days would buy stuff off TTR to retail st shows.
I access my watch list slightly before close. I don’t want get in a bidding war with some collector. I am seeking items to retail.
I may have a number of items selected and go with what can win at my price. Let’s say you have 2 1946 BTW CAC 50c one pcgs 65 CDN 60 and one NGC 66 CDN 125 on wantlist as this auction focus is on commems you selected. You have already won a couple of other commem issues now it’s desert time. Both are currently 50-60 pct of bid. You bid on the 65 (has tad nicer toning) but another bidder takes it above bid bumping u out be ready pounce on the 66 chances good you will take it for good pickup. Be ready act fast. I do homework days before. It helps if this area y specialist at. I have copy of Harry Laibstains 1995 book - certified commems on my desk along w My CDN. Harry’s book the best book / reference manual ever on commems.
In the aggregate, sniping will always help the bidder and hurt the seller. For a thousand years, before the advent of digital auctions, the underbidder always had a chance to challenge the late high bidder.
The dwindling number of quality coin auctions ending on a Sunday evening on Ebay is evidence that sellers are in retreat.
Auction houses should implement a 5 minute rule (meaning 5 minutes must elapse from the final bid after the scheduled lot closes for open bidding). This would eliminate sniping and maximize prices realized.
eBay is not an auction site (you may enter and withdraw your bids at will - a 'bid' on eBay represents no commitment whatsoever), so sniping is not as critical in this case. For eBay, if you feel you overbid, you simply withdraw the bid.
Don't need 5 minutes. Heritage gives you 5 seconds which is a bit tight, but works.
Alls fair as is. If a buyer is concerned about losing the coin they can put in something like CW Trends as a bid.
If seller concerned take control get eBay store / seller account.
Due to current market conditions many coins will have lackluster results at auction. I find many sellers have over inflated idea what their coins will bring on bourse / auction.
I usually have a good chance on bidding just before close on gc auctions, Now I put in token bids on a lot of stuff at times, but if something I really want, I usually have pretty good luck at bidding manually in the last 30 seconds at gc.
Rolling end eliminates sniping.
Two clever little snipers both entering nuclear bids at the last second will end up with a surprisingly large bill.
If you want to pay more than I do, you are welcome to it.
Sniping is just a game that makes you feel good but may or may not save you any money. You create as many problems as you solve:
In an orderly rolling-end auction, you can decide whether to place another bid if outbid. In a last second snipe, you can't get back in and raise your bid.
In an orderly auction, you generally bid by the increment although you can jump if you wish. In a snipe, you are forced to jump to your max and hope no one else jumps higher.
If your last second snipe is below someone's prior left bid, you have no advantage and no second chances. A snipe bid only helps you if you were ALWAYS going to be the higher bid OR if all the other snipers fell asleep at their keyboards. If I bid $1000 on an item that sits at $10 all week, you aren't going to win it with your $500 snipe. You're going to have to go to $1050. But my max is $1000 anyway, so I don't care.
Sniping is actually protecting you from yourself. If you are so obsessive that you can't possibly NOT win, then when you go to $1050, I'll go to $1100 and force you to $1200. [They call that an auction.] But that is only a problem if both of us refuse to lose. But if both of us refuse to lose, we are just as likely to place a $2500 nuclear bid at the last second guaranteeing that we land at an unhappy place anyway.
I personally think sniping is fine but generally accomplishes nothing. If you snipe a "$1000 coin" for "$500", it's probably not the snipe. It's probably that no one wanted to pay more than $500 for the coin.
We do not have any snipe program - although some clients try to manually bid in the last few seconds.
Regards,
Ian
yeah, if they are awake.....
The difference without snipping is that there’s no need to put in need to put in a nuclear bid so you won’t get moon prices when two bidders nuke each other.
I asked Ian 2 months ago why they don’t have a running clock, his response was:
“Thank you for your e-mail. We did trial having a countdown in our early auctions, but found so many people tried to bid in the last second and ultimately missed out - so we changed our system to just have the time that the page loaded. You can click refresh to get the update if you want to see the right up to second time remaining.
Sincerely,
Pros and cons for their vs the eBay method. You just need a different method to “snipe” on their site. Great Collections has great customer service by the way....
Nic
Guides Authored - Graded Card Scanning Guide PDF | History of the PSA Label PDF
@specialist
Laura, I like the soft close on your monthly auctions. It keeps things rolling but still allows bidding very similar to real world bidding.