I did a nuclear bid on a coin in the Great Collections auction just this last Sunday, bidding at a level several grades higher than the grade on the slab. It was a CAC coin, and I bid way over what it would resale for without extreme auction exuberance from 2 or more bidders. And someone bid over me (and still had to pay the 12.5% BP), wanted the coin even more than I. And that person is in deep with this coin unless prices go crazy high.
@spacehayduke said:
I did a nuclear bid on a coin in the Great Collections auction just this last Sunday, bidding at a level several grades higher than the grade on the slab. It was a CAC coin, and I bid way over what it would resale for without extreme auction exuberance from 2 or more bidders. And someone bid over me (and still had to pay the 12.5% BP), wanted the coin even more than I. And that person is in deep with this coin unless prices go crazy high.
I had a CAC coin I was bidding on there last week that I thought I was going to get. Took it a couple thousand about PCGS guide and recent trends. It was very PQ in my opinion. Two others apparently thought they liked it that good also. I will find a different one later...
When I used to frequent ebay, I used nuclear bids several times on items I really wanted....coins and other things. I was always a winner (submitted in the last 5 seconds), and never disappointed. The nuclear bid was always at least ten times the leading bid....of course, the final price was much, much less, since it worked on increments. Cheers, RickO
I have in other areas. I collect memorabilia from a college's athletic team. A couple time items that I'd never seen, and would likely never see again, have popped up on ebay. I remember one that I guessed would sell for around $50 that I put in a bid of $1001. I won, don't remember the price.
I've been on both sides of the Nuclear option. Several years ago I listed a 1967 SMS on eBay with a nicely toned 50c. Nicely toned, but certainly not a jaw-dropping gem. I expected it might sell in the $25-$30 range. In the frantic last 30 seconds, two bidders ran it up to around $250.
Another time I found a rare unattributed variety Capped Bust Half-dime in one of Heritage's Tuesday/Wednesday night auctions. The bid sat at about $300 for several days which was about what a common variety was worth. The night of the auction I placed a $4k bid and lost. One other bidder was apparently the only other bidder who recognized the rare variety.
I used to be somebody, now I'm just a coin collector. Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
I did a nuclear bid on a coin in the Great Collections auction just this last Sunday, bidding at a level several grades higher than the grade on the slab. It was a CAC coin, and I bid way over what it would resale for without extreme auction exuberance from 2 or more bidders. And someone bid over me (and still had to pay the 12.5% BP), wanted the coin even more than I. And that person is in deep with this coin unless prices go crazy high.
There's nothing quite like the feeling of knowing that the person who denied you a coin you desired ended up buried in it.
About 5-6 years ago I went nuclear on a common date Barber Quarter. As I recall is a PCGS VF30 or 35. Beautiful example, wonderful surfaces, and nice rim toning. I don't recall the date, but it was an upgrade to my current example in my PCGS Barber set. As I recall Greysheet was something like $75-80. I HAD TO HAVE IT.
I tossed in a snipe with 10 seconds left for $250, just to be sure it way mine.
OUTBID by three others bidders! I think it went for over $350.
What?
Dave
Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
No - just a high bid allowing me room for decent profit.
For bay I snipe using my max bid. Usually 50 - 70 pct what feel can sell it for.
On an auc like GC can’t do that so a late as possible bid. Usually will set alarm for about 10-20 min before close (item already on watch list). These are tough to win many times as another bidder (enemy) w same idea. I am buying these to retail at show or online store. You never know they could be asleep or on the ball. Or it could some wealthy collector where an insane nuclear bid is chump change.
Many on bourse offer them 5-30 pct back of CDN bid bc know auc house juice plus shipx they doing good if even realize that.
Only for really scarce items, stuff you may not see again or for many years. I'm not talking about super expensive items, just things that are very tough to find, but may not have much demand - numismatically this means medals for me. Put in a nuclear bid on a medal in a Russian auction not too long ago but lost anyway (so not so nuclear?) Not until I lost did I focus on the fine print - permits up the wazoo to ship antiquities such as medals out of Russia and the buyer's responsibility. I might not have owned that medal in my lifetime even if I had won the lot.
Comments
I did a nuclear bid on a coin in the Great Collections auction just this last Sunday, bidding at a level several grades higher than the grade on the slab. It was a CAC coin, and I bid way over what it would resale for without extreme auction exuberance from 2 or more bidders. And someone bid over me (and still had to pay the 12.5% BP), wanted the coin even more than I. And that person is in deep with this coin unless prices go crazy high.
Successful transactions with-Boosibri,lkeigwin,TomB,Broadstruck,coinsarefun,Type2,jom,ProfLiz, UltraHighRelief,Barndog,EXOJUNKIE,ldhair,fivecents,paesan,Crusty...
I consider all of my purchases to be defcon 4
Latin American Collection
A true nuclear bid that you survive is one usually way over the top of the underbidder's max.
A true nuclear bid you don't survive is one one where the underbidder makes a crazy high bid as well.
I had a CAC coin I was bidding on there last week that I thought I was going to get. Took it a couple thousand about PCGS guide and recent trends. It was very PQ in my opinion. Two others apparently thought they liked it that good also. I will find a different one later...
When I used to frequent ebay, I used nuclear bids several times on items I really wanted....coins and other things. I was always a winner (submitted in the last 5 seconds), and never disappointed. The nuclear bid was always at least ten times the leading bid....of course, the final price was much, much less, since it worked on increments. Cheers, RickO
I have in other areas. I collect memorabilia from a college's athletic team. A couple time items that I'd never seen, and would likely never see again, have popped up on ebay. I remember one that I guessed would sell for around $50 that I put in a bid of $1001. I won, don't remember the price.
I've been on both sides of the Nuclear option. Several years ago I listed a 1967 SMS on eBay with a nicely toned 50c. Nicely toned, but certainly not a jaw-dropping gem. I expected it might sell in the $25-$30 range. In the frantic last 30 seconds, two bidders ran it up to around $250.
Another time I found a rare unattributed variety Capped Bust Half-dime in one of Heritage's Tuesday/Wednesday night auctions. The bid sat at about $300 for several days which was about what a common variety was worth. The night of the auction I placed a $4k bid and lost. One other bidder was apparently the only other bidder who recognized the rare variety.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
As for not telling the wifey..........I feel it is easier to beg for forgiveness, than ask permission.
I used torpedo option years ago and I was so thrilled with the result (above 95% success rate)
@spacehayduke said:
There's nothing quite like the feeling of knowing that the person who denied you a coin you desired ended up buried in it.
About 5-6 years ago I went nuclear on a common date Barber Quarter. As I recall is a PCGS VF30 or 35. Beautiful example, wonderful surfaces, and nice rim toning. I don't recall the date, but it was an upgrade to my current example in my PCGS Barber set. As I recall Greysheet was something like $75-80. I HAD TO HAVE IT.
I tossed in a snipe with 10 seconds left for $250, just to be sure it way mine.
OUTBID by three others bidders! I think it went for over $350.
What?
Dave
No - just a high bid allowing me room for decent profit.
For bay I snipe using my max bid. Usually 50 - 70 pct what feel can sell it for.
On an auc like GC can’t do that so a late as possible bid. Usually will set alarm for about 10-20 min before close (item already on watch list). These are tough to win many times as another bidder (enemy) w same idea. I am buying these to retail at show or online store. You never know they could be asleep or on the ball. Or it could some wealthy collector where an insane nuclear bid is chump change.
Many on bourse offer them 5-30 pct back of CDN bid bc know auc house juice plus shipx they doing good if even realize that.
Not in biz be end user.
Not intentionally, sometimes I overpay for a coin because of my in-experince.
Only for really scarce items, stuff you may not see again or for many years. I'm not talking about super expensive items, just things that are very tough to find, but may not have much demand - numismatically this means medals for me. Put in a nuclear bid on a medal in a Russian auction not too long ago but lost anyway (so not so nuclear?) Not until I lost did I focus on the fine print - permits up the wazoo to ship antiquities such as medals out of Russia and the buyer's responsibility. I might not have owned that medal in my lifetime even if I had won the lot.
VF 1832 bust half at $15K, underbidder.
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
Once long ago and far away, in the late 1980s. I've subsequently learned not to do that.
I was fortunate - the winner got burned big time in that market.