Auctions: How intense?

dan1ecu

I have never been to a show or auction. I imagine that people can get pretty uptight when competing for coins, especially dealers who are trying to obtain coins for clients. I guess it’s not really fun for a professional who is tired from all of the traveling and who has to answer to bosses back home. It must get hectic.

For those of you who frequent auctions, what are some strange things that you’ve seen happen in the heat of competition? Do fist fights or shouting matches sometimes break out over particular coins? What are some of the sleazy tactics that you’ve seen people use at these events? Have you ever seen anyone get thrown out of an auction?

Dan

Bear

Nothing too serious, a few knifings, a couple of shooting and maybe just a hint of mace.

All in all an auction is very similar to spending a weekend on the Forum.

RKKay

I watched someone run the bid up over $1000 on a coin that he wasn't interested in because he was mad at the other guy.

FatMan

I had never been to a live auction, so I sat in on the Heritage auction at the FUN Show for about a half any hour.

It was amazingly tame. Most of the items never took a bid from the room. They were simply closed at the high internet bid. There were only a few items where there was more that one bidder in room and the bidding ended after one or two bids. The atmosphere was very relaxed. I even saw one situation where the auction was closed at the internet bid and then a dealer said "oh crap, I was supposed to bid on that" and they re-opened and allowed his bid.

Contrary to what one would think, that auction would have been a nice place to catch a cat-nap, if needed, from a long day on the bourse floor.

EVillageProwler

I've witnessed shouting matches, with one guy threatening violence and yelling that the other guy was taking food from his children.

This immature dealer, btw, is probably the largest individual buyer at all the major auctions. I'm sure many of you know about whom I'm speaking... In a book on antonyms, under "ethics" you'll see a picture of him. He is probably one of those that the posse should go after.

EVP

Tonelover

Is that the same guy who laid a few punches last year when his bid sheet wasn't accepted because the deadline had passed?

clueless

The most frustrating thing for me was when one of my coins sold for about $700., which was most disappointing. Then the next one went for $1250., which was more like what I expected. Then the guy who bid $1250. yelled "Wait, wait, I thought I was bidding on the coin before this." So the auctioneer let him cancel his purchase of that coin, even though the hammer had been banged. Grrr. That was the 2002 FUN sale. It almost seemed that there were two or three active buyers, and they were quite careful to avoid bidding against each other. Makes sense, really, if there are enough coins to go around.

indianabyron

Most auction I go to are good auction not shooting or stabbing or fights. The thing I have problems are the stupid auctioneers. Most of them dont know what the hell is going on. I have also witnessed shill bidding. But other than that they are usally good places to go . they can be very intertaining.


Byron

FrattLaw

I went to my first two auctions @ Long Beach -- Goldberg and Heritage. Both were very subdued at least while I was there. I purchased my first auction coin @ Heritage. It really didn't take much. I knew I wanted the coin and I was prepared to outbid any dealer. I personally think that collectors have an advantage over a dealer at auctions on any one particular coin. He's there to make $ and won't bid as high, since he has to resell the coin.

When it came to my coin, I simply held up my placard until he lowered his. The bidding went back and forth between just the two of us.

Overall, I think there are good deals to be had at auctions. I saw alot of coins that went without bid.

From now on I will attend any and all auctions that I can. I think that they are necessary if you are really trying to put together a nice set.

Michael

boz

"I even saw one situation where the auction was closed at the internet bid and then a dealer said "oh crap, I was supposed to bid on that" and they re-opened and allowed his bid"

Oh, that is great, just great! Seems stupidity wins out over fairness. That is not an auction, it's bull$h!t