What do you consider a "nuclear" bid?
lermish
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I was thinking of this as I was placing bids in yesterdays' GC auctions. For a ~$1200 coin that I wanted I placed a bid 8 increments above the last bid. I ended up winning it with a one increment increase and was quite pleased as the lot came in a couple of hundred under my target price.
But what dollar amount, price x, bid increment increase do you consider "nuclear"?
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Everyone has a different definition of nuclear. For me a $5000 bid on a $1200 coin would be nuclear.
Edit: I don’t make nuclear bids.
I only bid what I'm comfortable spending.
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Nuclear is at least double what it's worth. I try to avoid making nuclear bids, but I have inadvertently made a few in my time.
What happens when two people place nuclear bids on the same coin?
I'm guessing the seller walks away very happy.
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that never interested me (and others)
I love it when I go nuclear and the second highest bidder brings a slingshot.
I have placed nuclear bids a few times.... and won, usually one increment above. However, placing the bid, I was certainly prepared to pay a higher price. The bid was usually two or three times the value of the coin. Cheers, RickO
I have done nuclear bids less than half a dozen times. For 3 of them they were only $30-40 coins. With max bids approaching $400 or more. For my rattler type set when certain coins only show up once every year or two it can call for drastic measures. The other few times I have done I will max out at 2.5 of PCGS coinfacts value in grade. So for a $400 book coin—max of $1,000. And thankfully I’ve never been tested while bidding on a gold cac’d coin-the only gold cac’s I have bought were straight sales.
Chance favors the prepared mind.
This was one of those nuclear bids last night….price guide $3250, there were some crazy prices last night….
Yeah, those bust halves and SLQs were going nuts. I liked it though, maybe took some of the heat off of the gold type stuff;)
Whatever this is...
Young Numismatist
I was in on many but they just kept going and going, i dropped out….maybe someone was putting together a set that was all beaned, only thing that would make any sense to me.
I can't afford to do them. It's supposed to be a fun hobby and my life expectancy doesn't justify them. HOWEVER, I have done it when I think a coins is way undervalued in terms of it's population relative to other coins in the same series. YET, that doesn't mean the coin will eventually catch up to it's true value in my lifetime. : )
If you win with your maximum bid and you're okay with that, it's not a nuclear bid.
If I’m inspired to go for something and the hassle of bidding in an auction it’s usually pretty strong, most times very strong. If I end up a nuked underbidder I know the winner didn’t get a bargain and I take satisfaction knowing I still have my cash to walk around with which is sometimes the real win.
Nuclear bids done right lead to happiness.
If you win the coin at your max nuke bid, then awesome, you own the coin
If you lose the coin by one cent over your nuke bid then you should be happy that you did not pay too much
In most all cases of nuke bids, you win the coin much lower than your nuke bid
I've gone nuclear several times. I never feel bad when losing, as my offer/bid caused whomever I was up against to pay top market value. I always feel good for the seller in that I helped them get what their coin was worth. We've all been on both sides.
https://www.ebay.com/mys/active
Is it truly nuclear if you are happy to pay it and there is an underbidder one increment lower?
Here’s the obvious answer
Mr_Spud
Yes, because at the time of the bid I would have considered it nuclear. Maybe the other bidder went nuke also.
At least double price guide.
I would consider this a bid above Market retail like CPG or CF. Most my bids at 90 pct CDN bid or 50 pct what can sell for.
However it could be a shill bidder too. If it is difficult to buy it right from a certain auctioneer I lean towards its shill bidding.
Yes there is possibility rich have to have it collectors bidding it up. If you want to engage them go for it. If you win congrats your the end user.
Double retail price guide or better.
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When you say "WTF am I doing bidding so high?"
Irrational
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Been nuclear bidding as necessary for 40 years to obtain what I needed. What was nuclear back then is just a bid increment now. Buy and hold has mitigated the cost of the perceived nuclear bid back then .
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I just won a coin that I bid high on but got cheap. I was prepared to pay well above what I was comfortable with but as it turned out I felt bad for the seller as I don’t believe they came near covering their cost and expenses. And with free shipping, well, that’s auctions 😉🙀🦫
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I consider it double what is normally paid for a coin in the same grade. I went nuclear once before, I ended up paying under what the coin normally went for. If I remember right, I was the only bidder. Great day for me!
Coin Photographer.
I recently went nuclear on one of Freds coins. I did not win. The coin ending up going triple nuclear
I was bidding on a 2021 coin that had an existing bid under $12.00 and I bid at $15.00, lost it as two nuclear bids collided and the coin went for just over $103.00.
In a latter auction, I bought the same coin in the same grade for $15.00.
Wayne
Kennedys are my quest...
A nuclear bid is an insane amount of money compared to the present bid dropped at the very last second of an auction, designed to blow away your competitors in a single mushroom cloud of devastation. It is to be used only when you must "win at all costs."
Dead Cat Waltz Exonumia
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For me a nuclear bid is when I go over greysheet. Hasn't happened in a while though. I did bid $14.72 cents for the below, but I got it for $9.61 so it was a small nuclear bid
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One consequence of a nuclear bid is the resulting fallout. Otherwise known as a screaming wife and having to sleep out on the sofa! A pretty effective nuclear deterrent, to tell you the truth!
Nothing is as expensive as free money.
I did it once then hoping I was the only LoLo … so not to pulverized each other 😬
Unless it was a $990,000 coin!
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It's a nuclear bid if, after you find out you won at your high bid amount, your first thought is "I wonder if there's any way to get out of this."
I guess I was kinda nuke ish. 22.51
Not really but 15 seems cheap.
🎶 shout shout, let it all out 🎶
It is simply the most I am willing to pay for a piece I seriously want but at a price that is outside the market and unlikely to make an eventual profit. (But you never know. Nuke bids are often on coins that appreciate strongly.)
From a seller's standpoint nuclear bids can actually be a problem. We had this issue with a piece on eBay where the nuclear bidder decided he didn't want to honor his winning bid so he reneged, claiming an error in typing the amount. I might have swallowed his story except his feedback showed an identical item bought from another seller later that same day via buy it now, which was lower than his winning nuke bid. We filed a case and got him a NPB strike. It worked out in the long run because it sold in the shop later...
RIP Mom- 1932-2012
Nuclear bid = winning bid.... or under bidder to bigger fish in the pond.
All you have to do for a buyer to get a NPB strike is let Ebay cancel the sale for nonpayment.
Yes... hence my statement "we filed a case and got him a NPB strike"...I thought eBay canceling the sale was implied.
RIP Mom- 1932-2012
Usually if I bid enough that I know I'm either going to win or be amazed I lost. Most of the time its around double what pcgs lists in their price guide.
Well, I've had a few all but beg me to cancel the sale!
Or avoid auctions that have it. Auctions are the pits; auctions with the snipe are worse than the pits. I am 100% done with eBay. Never again.
Lucky you. That’s on the category of coins that NGC has in their type set registry. In old days there were dealers at the small shows who sold these coins at reasonable prices, $10 to $20 each. Now they are on the Internet for $30 on more.
Either way these coins are burials. You will never get your money out of them. You buy them strictly to satisfy registry collector urges. They are “roach motel” buys. You check in at a high price and check out with a lot less.
A "nuclear" bid is one so high that you'd be absolutely amazed ( and possibly experience schadenfreude) if it were beaten, and that you'd be horrified and suffer severe regret and be buried in the piece if it were almost beaten
Liberty: Parent of Science & Industry
A guy on GC in last few min every time I bid he bid it up mult increments. Man was I mad!