Have you ever spent what seems like days preparing a bid(& your stretch bid, double stretch) on

SethChandler

BLOWN OUT OF THE WATER!!!!!!

Isn't it the most irritating feeling out there? Makes you want to quit the hobby. Very humbling.

Seth

CarlWohlforth

I haven't ever spent that much time preparing a bid. But then I haven't bid on any super scarce, one of a kind coins either. I often get blown out of the water though and it doesn't bother me a bit.

Am I right in assuming you were going for something special?

Placid

What auction was that?

DHeath

Seth,

I'm in the automobile business, and my primary duty is buying and selling high-line vehicles wholesale. One of the better auction venues is in Manheim PA. All the "auction lots" are sitting outside. In the winter I fly to Philly, rent a car, and drive to Manheim the evening before the auction. I get up at 6:00 AM and go to the auction, where viewing the "lots" involves walking several miles in below freezing temps (and normally a breeze) appraising every lot of interest. I write my opinions, bid, stretch bid, and double stretch prior to the auction, just like you do. Once the auction begins, I compete with some of the best resellers in the nation, and they frequently have a better buyer waiting than I do. Since the auctions are not forced sale, sometimes I do all the prep work only to have the seller say no to the high bid. Even better, sometimes I find myself bidding against the Coke machine, as the auctioneer tries to bring the seller and I to consensus. Once I've purchased at least 8 vehicles, I can arrange a truck to transport my "lots", make payment, secure titles, service records, extra keys, etc, return the rental car and wait on the flight home. Once, when I had won an auction I was particularly proud of, a friend of mine asked me how it felt to outbid 2,000 experts. LOL Some days, you just have to grin and bear it.

CopperDude

Then theres the auction where you bid what the coin is worth nobody else bids higher poof the auction has been canceled at the last 3 sec. Won't bid on his auction again.

CarlWohlforth

My partner and I bid on some houses. At the end of the auction all the winning bids were added up. Then all bidders were given a chance to bid more for the entire auction inventory. I thought that was an interesting twist.

There was one fellow who seemed intent on winning them all. However we did win what we thought was the best investment opportunity and that other bidder didn't bid for the entire bunch. This was also near Philly so Don's story reminded me of it.

haletj

yep