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Do you ever second guess yourself in an Internet auction by placing a higher bid even though you're

dan1ecudan1ecu Posts: 1,573
in U.S. Coin Forum
Hi, Everybody -

I've bid on a coin in the Heritage auction, and I've come to like it so much that I'm tempted to place a higher bid just to make sure nobody outbids me. I'm currently winning, but I'll be tied at the next increment. It's pretty close... and I really do want the coin!

Would you stick to your guns and hope for the best, or would you up your bid? If I won at this point, I'd already be paying a strong price for it.

Does this ever happen to you? Am I acting obsessively?

Dan
Dan McInnes

mcinnes@mailclerk.ecok.edu">dmcinnes@mailclerk.ecok.edu

Comments

  • WondoWondo Posts: 2,916 ✭✭✭
    Welcome to auction mania!! Yes, I have done this many times. It is amazing how we let ourselves get carried away, but that's half the fun!!
    Wondo

  • puffpuff Posts: 1,475
    If it's a monster toned ms67 PCGS Walker you better bid again!image
  • razorface1027razorface1027 Posts: 4,242 ✭✭
    I've done it several times, especially when I know I'm not going to be at the computer desk to hawk a auction in its last seconds...image
    What is money, in reality, but dirty pieces of paper and metal upon which privilege is stamped?
  • joeyukjoeyuk Posts: 3,282
    If you are already at strong money for this coin you can ask yourself how often do you see it? The only time I would up my bid while winning is if I couldn't see the end of the auction and rethought how high I wanted to go. Joe
  • LanLordLanLord Posts: 11,714 ✭✭✭✭✭
    get a sixpack of jolt cola
  • coinmickeycoinmickey Posts: 767 ✭✭
    All I can say is to remember the juice on those auctions. Your bid and what you end up paying can be significant!

    That said...I have to admit those Heritage Auctions are fun...image



    Rufus T. Firefly: How would you like a job in the mint?

    Chicolini: Mint? No, no, I no like a mint. Uh - what other flavor you got?



    image
  • seanqseanq Posts: 8,644 ✭✭✭✭✭
    I did it last night on an eBay auction I absolutely had to win. I had the high bid already, then I hit it with a big sniper-proof bid at about two minutes left.

    Seemed to work out okay - I won it. image


    Sean Reynolds
    Incomplete planchets wanted, especially Lincoln Cents & type coins.

    "Keep in mind that most of what passes as numismatic information is no more than tested opinion at best, and marketing blather at worst. However, I try to choose my words carefully, since I know that you guys are always watching." - Joe O'Connor
  • jeffnpcbjeffnpcb Posts: 1,943 ✭
    No, with snipping software and rotation of auctions. You can always catch the same coin at another time! Unless there is something special and I really need it, then I might consider that situation and hit it with a last second bid! Don't like it at times, but I've done it and it does work boths ways. Not getting it or paying too much!
    HEAD TUCKED AND ROLLING ALONG ENJOYING THE VIEW! [Most people I know!]

    NEVER LET HIPPO MOUTH OVERLOAD HUMMINGBIRD BUTT!!!

    WORK HARDER!!!!
    Millions on WELFARE depend on you!
  • SequiturSequitur Posts: 1,195
    My experience from Fleebay. If you're going to follow through with strong money to protect your bid, make sure you do it with as little time as possible before the hammer falls.

    Bidders, as well as the seller, can see you've bid twice -- that is, they know you're winning the auction but, you want the coin so bad, you've risked additional capital to get it. In the past when I put in two bids well before the Ebay hammer, almost routinely the damn coin would get bid up, and occasionally I had a suspicion, but no evidence, there was a shill.

    Now, I wait until 20 seconds or less (on a cable broadband connection) to follow through with the strong money bat to beat away the software snipers. If the seller has shills, there isn't any time left for them to submit bogus bids. And other board members won't break your bank, either.image
    Realtime National Debt Clock:

    image
  • sinin1sinin1 Posts: 7,500 ✭
    I think there must be a flaw (well maybe intentional) in eBay software - when I bid again, even though I am currently the high bidder - it takes the current price up one increment


    I have done it a few times - put in a just over bid with a few hours to go - stays high bid and in last minute - bump up to my true max
  • SequiturSequitur Posts: 1,195
    Whoa -- if that's happened to you, something definitely is wrong. You cannot bid against yourself. If you're the high bidder, and you put in a higher bid while you're still the high bidder, the price should not not jump up -- even if the bids are several hours apart. I was bidding on a bunch of stuff yesterday, made some second bids, too, and the price did not go higher when I was the high bidder.
    Realtime National Debt Clock:

    image
  • LakesammmanLakesammman Posts: 17,376 ✭✭✭✭✭
    You mean, there are people that DON'Timageimageimageimageimageimageimage
    "My friends who see my collection sometimes ask what something costs. I tell them and they are in awe at my stupidity." (Baccaruda, 12/03).I find it hard to believe that he (Trump) rushed to some hotel to meet girls of loose morals, although ours are undoubtedly the best in the world. (Putin 1/17) Gone but not forgotten. IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Broadstruck, Ricko, Big Moose.
  • ms71ms71 Posts: 1,537 ✭✭✭✭✭
    Did it last night on a Heritage auction...........
    Successful BST transactions: EagleEye, Christos, Proofmorgan,
    Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins

    Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.

    My mind reader refuses to charge me....
  • ellewoodellewood Posts: 1,750 ✭
    DO IT! I DO IT ON EBAY FOR ALMOST EVERY COIN I GO AFTER. IT GIVES YOU THAT ADDED SENSE OF SECURITY THAT YOU WON'T GET SNIPED IN THE CLOSING SECONDS. WAIT UNTIL THE LAST 10 OR 15 SECONDS TOO. LET US KNOW IF YOU GET THAT COIN!
    image
  • flaminioflaminio Posts: 5,664 ✭✭✭


    << <i>Whoa -- if that's happened to you, something definitely is wrong. You cannot bid against yourself. If you're the high bidder, and you put in a higher bid while you're still the high bidder, the price should not not jump up -- even if the bids are several hours apart. >>



    On eBay there's a bizarre little "buglet" that will occasionally boost your bid upon entering a second bid. If your first bid beats the underbidder by less than the amount of the default increment, a subsequent bid will increase the high bid by the default increment. It happens rarely, but it does happen.

    As far as the thread question: Never. I determine my price, factor in the s/h/i/t, and either place my bid or program my snipe accordingly, and never look back.
  • mdwoodsmdwoods Posts: 5,546 ✭✭✭
    Do you ever second guess yourself in an Internet auction by placing a higher bid even though you're already winning?

    Yes, but sometimes the first bid is just to track the coin, or I might decide the coin is something I really want.
    National Register Of Big Trees

    We'll use our hands and hearts and if we must we'll use our heads.
  • jonesyjonesy Posts: 5,031
    Some times twice in an attempt to intimidate others!!
  • ANACONDAANACONDA Posts: 4,692 ✭
    Yes, to the original question....i just come to the realization that if i don't get the piece at the price i've bid, i'll regret it.

    I approach auctions with the thought that if i lose a piece it shouldn't be because i was too cheap, it should be simply that someone wanted it more than me.

    Having said that, i don't bid in too many auctions.....too much work...you look at 100 lots, spend an enormous time thinking about fair bids, place them, set the money aside to pay for the coins, and then end up paying more than anyone else for coins that were not on the top of your list.

    Not only that, but the whole world now knows what you bought your coins for.

    I'd rather buy them one at a time from people who know what i want.

    adrian
  • khaysekhayse Posts: 1,336 ✭
    I've done this.

    It depends on how much you want/need the coin. Good luck.

    -KHayse
  • Betta285Betta285 Posts: 733
    All the time.. I mentally set a price limit hours in advance and bid, but there's something that tells me minutes before the auction ends to just add a little moreimage
  • MadMartyMadMarty Posts: 16,697 ✭✭✭
    Only if I think Russ is going to bid on it!!!image
    It is not exactly cheating, I prefer to consider it creative problem solving!!!

  • hamiltonjhhamiltonjh Posts: 1,140
    Yup...Ive done it too.
    If you want it that much, go for it. image
  • BAJJERFANBAJJERFAN Posts: 31,075 ✭✭✭✭✭
    <<"Not only that, but the whole world now knows what you bought your coins for.">>

    Definitely one of the drawbacks of eBay and a plus for Heritage. In light of a couple of recent threads those prying eyes could be those of a spouse or the spouse's nosy lawyer.

    theknowitalltroll;

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