For those who bid on Teletrade...

ziggy29

Have many of you won anything BELOW your maximum bid?

I've won a few items there in the last couple of months, and I've while I've lost more than I've won, I've NEVER won for less than my max.

I'm not sure if this is typical. Maybe the fact that I often lose but get taken to my max when I win is a good indication that I'm offering strong but not stupid money. I don't know. But I'm fairly new to Teletrade, and I'm not used to always being hit at my absolute max when I win.

Cameonut

I do not buy much on Teletrade anymore, but I have won lots below my max bid on a number of occasions. Even as recently as July 2004.

RBinTex

Several times.

ziggy29

Hmm. I'm probably overanalyzing this. I was just trying to figure out if it reveals anything about my bids. I'm not sure it does. As I said in the original post, I lean toward the simple explanation (using Occam's Razor) that I usually bid what I think is strong but not stupid money, and I usually clash with one or two others doing the same. Sometimes I think a coin is worth $10-$20 more than they do, and vice-versa. I guess if I was routinely bidding ridiculously "stupid money" I'd be winning some lots way below my max.

The particular niche I'm collecting seems to have pretty stiff competition (I'll bet some of it is from crackout artists) so a reality check is sometimes needed. At least now I know the system isn't rigged. Thanks.

wondercoin

I've won a ton of coins this year on TT and have no problem entering max bids well before the auction close. At times I've been maxed out, but I have also won coins at a tiny fraction of my bid amount. There are places I would NEVER personally enter a max bid "on the book" or ahead of the sale - however TT is NOT one of them. Just my 2 cents.

Wondercoin

ziggy29

<< <i>There are places I would NEVER personally enter a max bid "on the book" or ahead of the sale - however TT is NOT one of them. >>

I agree that the Teletrade system, from what little experience I have, doesn't seem to lend itself to sniping. It seems to be a good place to leave your best bid and leave until the auction is over. That's what I've done -- I've "sniped" a couple of times; once I lost and once I won at what would have been my max anyway. It's just curious that when I bid and leave, I either barely lose or win at my max almost every time!

Russ

<< <i>Have many of you won anything BELOW your maximum bid? >>



Every coin I've even won has been at the maximum bid I've placed. Of course, I'm sniping rather than using the max bid feature.

Russ, NCNE

Dave99B

Ziggy -

I hear ya. I've noticed much the same, especially lately. I'm starting to wonder if they artificially jack up the bids a bit at the end, to taking advantage of max bidders, and make a few bucks for themselves AND their sellers.

I mean really, would you put this past them?

Dave

sliderider

I haven't won anything yet, even though I thought my bids were strong. I guess the rich guys all come out and overbid whenever there's something I want.

Sequitur

Have many of you won anything BELOW your maximum bid?

Yes, and recently, too.

I've NEVER won for less than my max.

I like Teletrade, but its Achilles' heel is the anonymous bidding process. A consigner or his shills could be bidding up his coin and you would never know it. At least on the auction floor -- or even Ebay -- you have some indicia of who is bidding.

Bikingnut

I have on most of the coins I've bid on. I have heard that schilling is common on Teletrade. Now if you had asked this about the Heritage auctions, I would have said no I don't think I've ever won an auction on Heritage for less than my max bid. I find that interesting and disturbing also.

Dennis

Boom

Yes I have and tonite at Heritage as well

Coinhusker1

Is shilling by the consigner allowed?? Perhaps it is, but the disincentive is if the shiller won, he/she would have to pay the commission to Heritage or Teletrade, which is pretty stiff.

tome20

I frequently win lots at my max bid; however, I feel this is more a function of me trying to get the lots at a good price. Also, i've won many lots below my max bid.

RotatedRainbows

The only real way to snipe TT is by phone.

rainbowroosie

I've won many lots below the bid.

littlejohn

HI
I SNIPE AT TT,AND WIN MOST OF THE TIMES, I WATE TILL THE LAST MIN. TO BID.I DON'T RUN THE PRICE UP.
I THINK TT ,WAS A GREAT IN THE FIRST 2 YEARS,BUT HERE LATELY.
THAY START THEM OFF TO HIGH.
JOHN

YOU CAN BID UP TO 1 MIN. PAST 9:00 - ARE 9:01

RR

<<<Have many of you won anything BELOW your maximum bid?>>>

I've bought quite a few coins on Teletrade this year and don't recall winning below my max bid except maybe once a month ago.

RR