What would you call a nuclear bid
ReadyFireAim
Posts: 1,800 ✭✭✭✭✭
So far as PCGS price goes
What would you call a nuclear bid
This is a public poll: others will see what you voted for.
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ReadyFireAim
Posts: 1,800 ✭✭✭✭✭
ReadyFireAim
Posts: 1,800 ✭✭✭✭✭
Comments
High enough in an active physical auction that will end the bidding.
What @logger7 said.
100x. This was for a PCGS piece but there's no Price Guide price so I had to go with realized auction prices which tended to be for raw pieces, but ones that could be gem. I had to stop myself when the next bid increment would take me over 100X.
My last was a 300 bid on a Mel Wacks bicentaler. Got it for 200 and was thrilled.
I don't know how it happened....but I was bidding on a $2-300 coin on Heritage the other day. When I got the email results the next day my Max bid on the lot was $178,xxx.00.
I would call $10,000,000 a nuclear bid.
Worry is the interest you pay on a debt you may not owe.
Well, what if it's just going with what it sold for last time
I was talking about the "last time".
Worry is the interest you pay on a debt you may not owe.
The most famous nuclear bid in U.S. coin history...
It depends on the coin. I've bid 10x on a coin and was no where near the highest bidder on a top pop toned SLQ once.
One that completely destroys your wallet.
In a club meeting a long term dealer friend noted in the last month auction meeting how a sharp member seemed very eager for a Chinese piece that had no real correlation between what it was, and intrinsic value. Next month we agreed we would buy it and as the bidding was going up on a similar item, he put up his paddle at $300 or so. I sold the item on ebay for over $1K and split the profit with Don.
Twice what the coin is worth according to the catalog and the previous auction results.
so how many times has your "nuclear bid" cost you a fortune because you could not resell it at a profit
Kennedys are my quest...
I would call a nuclear bid one that you would not recover from.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,...
A bid that damn near bankrupts you.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Nuclear bids happen when two deranged collectors bid such outrageous prices for the same coin that the winning bidder has a heart attack.
Lance.
It’s probably worse in live auctions when egos are on the line.
Bidding $5000 on a $200 coin with 30 seconds left in an eBay auction.
I would call a nuclear bid a "nucular bid"...
That's mine
When I got stupid money to burn
I just put a $50 bid on a hometown "Good for" token that I have never seen before. That is probably a 5X bid. There is another collector in my hometown who also happens to be the biggest national collector of tokens from what I can tell. Our two nuclear bids have met on a few items and I imagine that this will be one of them. I had the advantage early, as he had this "hometown" space for years to himself but I ended up with three important unique items from the Bowers collection as he hadn't prepped his bids for competition.
Latin American Collection
As I watch the pace of bidding, I can almost sense the pucker factor as the final warning scrolls up and then blam! The holy hand grenade is dropped. Peace Roy
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There is a major difference between live bidding and online (i.e. ebay, etc.) bidding. If online, and final hammer goes to next increment, then nuclear could be 10 or 100 times value to prevent the next keyboard entry.... live, you will be held to your bid amount. Cheers, RickO
There is major different in placing a "nuclear" bid in a timed auction opposed to a live auction where the full amount of the bid is immediately realized.
I personally don't see the strategic benefit of such a strategy in a live auction if the nuclear bid is also a jump bid.
For timed auctions I'm more concerned with the dollar amount more so than a percentage. If there's a $5 item that I really want, I'll gladly pay $100 if I can't acquire it anywhere else. I won't do the same multiple for a $5000 item that I really want under the same circumstances. At a certain a point it's just about the item. At another point it's also about the money.
Smoe would call it a jump bid.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars
Excluding super toners, or something just have to have etc. 1-2x. Super toners 2-4x
The earlier you place it more likely it will be bid up. I use AS or if can’t do that would need wait as late as it allows. Otherwise another bidder upsets the apple cart.
As in a great leap of faith?
Worry is the interest you pay on a debt you may not owe.
FWIW, I was relieved to see the poll results and realize I wasn't the only one who selected my answer. It's nice to come here and realize I'm not alone.
Amat Colligendo Focum
Top 10 • FOR SALE
Nor should you expect to, IMHO. Reserved for "forever" coins or something you don't plan to sell (a gift?).
Amat Colligendo Focum
Top 10 • FOR SALE
Yeah I’ve seen 2 nuclear bids on an item. Not a pretty sight. Hopefully the winner was happy and the under bidder relieved.
"I spent 50% of my money on alcohol, women, and gambling. The other half I wasted.
I'm unsure as I've never made a crazy high bid for anything. I have bid higher than I thought was "right" for scarce medals with little or no price history. For coins with a price history, I may go 150% for a lower-value coin (<$1,000) in exceptional condition or 110-125% of a higher-value coin, ditto. Price history being a judgement call admittedly.
Depends on whether I am bidding or if it is someone else.
Yeah, don't write a check that your a** can't cash! LOL
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set:
https://www.ngccoin.com/registry/competitive-sets/16292/
One that makes you sweat if you're actually winning.
"A dog breaks your heart only one time and that is when they pass on". Unknown
I dunno. The idea scares me a little. I don’t know why anyone would bid more than they actually want to pay. It’s illogical. Sooner or later one will come around that burns you.
Anybody else on coin facts for paying a record price?
Not sure if it's an honor or a trophy for idiocy.
My Saint Set
No, but I’ve been in the top three a time or two.
I’ve also helped a gentleman set a world record that lasted for many, many years, as I was the underbidder.
That Record fell just a few years ago to another crazy (er, ahem...determined) bidder. 
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set:
https://www.ngccoin.com/registry/competitive-sets/16292/
I have been working on a very difficult set for the last few years.
https://www.pcgs.com/setregistry/mysetregistry/set/171869
On the rare occasion when one that I am missing becomes available, I am not above of throwing money at it.
I don't have Mr. Burns money, but I have to confess that winning a good ol' money fight is fun.
https://www.ebay.com/itm/1961-Proof-Roosevelt-Dime-PCGS-PR-67-OGH-Rattler-No-Reserve/254744083261
The one where I sit dumbfounded in front of my screen after I bid, and then start mumbling to myself incoherently as I get up and try not to look.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
I'd call it "atomic lunacy".
A nuclear bid is one that you end up regretting when somebody else has the same bright idea as you, but bids a couple of bucks less than you.
Fat man and little boy.
As in all things, it depends.
One way to kind of know if a lot has gone nuclear is to be at a live auction. If, at the end of the winning bid there is applause, you've kind of got a guess it went for nuclear money.
U.S. Type Set