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Upset or Relieve to See a Coin in Dealer's Inventory You Were Outbid On at Auction - POLL

poorguypoorguy Posts: 4,317 ✭
in U.S. Coin Forum
Say you are bidding on a particular coin that will help complete your set you've been working on for years. This coin is a perfect example and would compliment your set and you've been waiting years for it to turn up. About a week after the auction you see the coin listed on a dealer's website for about 20% more than your highest bid. Are you upset that you have to pay more for it or relieved that you located it and still have the chance to aquire it?
Brandon Kelley - ANA - 972.746.9193 - http://www.bestofyesterdaycollectibles.com

Comments

  • speetyspeety Posts: 5,424 ✭
    Prolly more upset. I have already bid my max, I am not willing to pay 20% more now than I was at the auction. To me it's just a sign that I should have had them represent me at the auction image
    Want to buy an auction catalog for the William Hesslein Sale (December 2, 1926). Thanks to all those who have helped us obtain the others!!!

  • DenverDaveDenverDave Posts: 2,164
    I would not miss it the second time, in that case...

    No happy but smarter...



    My Ebay Auctions

    Currently Listed: Nothing

    Take Care, Dave
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭
    If I'm working on a set it's important to know who the other players are. Over the course of a couple years I've compiled a list of wining and underbidder numbers and the who's who that goes along with it. Many times if something I want is already being hammered up and know the who the winning bidder is, instead of getting into a bidding war... I don't bid at all. It's been far more profitable for me to acquire these items after the sale with a dealers mark-up then multiple bid increments.
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • RebelRonRebelRon Posts: 544 ✭✭
    If I have to pay more for it,I don't want it! After all,I already bid the highest amount that I care to pay for it. That is why I was out bid.
  • LakesammmanLakesammman Posts: 17,443 ✭✭✭✭✭
    Bidders remorse works in funny ways - I would just buy the freakin thing! image
    "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, Cardinal.
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭


    << <i>Bidders remorse works in funny ways - I would just buy the freakin thing! image >>



    image

    As otherwise it can haunt you for years! image
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • MidLifeCrisisMidLifeCrisis Posts: 10,550 ✭✭✭✭✭


    << <i>Bidders remorse works in funny ways - I would just buy the freakin thing! image >>


    Yup.
  • MikeInFLMikeInFL Posts: 10,188 ✭✭✭✭


    << <i>Say you are bidding on a particular coin that will help complete your set you've been working on for years. This coin is a perfect example and would compliment your set and you've been waiting years for it to turn up. About a week after the auction you see the coin listed on a dealer's website for about 20% more than your highest bid. Are you upset that you have to pay more for it or relieved that you located it and still have the chance to aquire it? >>




    Given your scenario, I would likely bite the bullet and buy the coin, while inside be a little upset over having to pay an additional 20%.
    Collector of Large Cents, US Type, and modern pocket change.
  • BarryBarry Posts: 10,100 ✭✭✭


    << <i>If I have to pay more for it,I don't want it! After all,I already bid the highest amount that I care to pay for it. That is why I was out bid. >>


    image
  • BochimanBochiman Posts: 25,556 ✭✭✭✭✭
    Just happened a couple weeks ago.
    A coin on TT that I wanted but didn't bid high enough (was contemplating but, with their photos, it can be hit or miss....early copper).
    Saw it on ebay for a NICE markup (nice for the seller). I had a "make offer" that was around the TT price, just to see....it was auto-rejected.
    I asked the seller what they would take and got a nice song and dance about the coin and how they weren't making much on it and had paid so much for it (I knew how much it was bought for a month prior....just take the price, include shipping and BP from TT).

    Did I pay their rape of a price? nope. Did I get the coin? nope. If they had come back with a reasonable counter (they said they would but didn't follow through) then maybe I would have gotten it.


    Am I upset? No, not really. It is just a coin...though a nice one that would fit perfectly in the set. Am I going to be held hostage by them (not even talking 20% markup here....much more if I recall)? Nope. Either someone else will be their sucker or they will tie up their money for awhile.....it's obviously not for a collection for them, but rather for inventory and flipping.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • MoldnutMoldnut Posts: 3,112 ✭✭✭✭
    For me, Heritage prices are just about max for most coins Im bidding on. If I see it on a dealers site the next week, I say,"good luck my friend".
    Derek

    EAC 6024
  • ProofCentsProofCents Posts: 1,656
    If i see that i wonder what the dealer thinking image
  • illini420illini420 Posts: 11,466 ✭✭✭✭✭
    At first I thought I'd be in the "upset" camp, but after thinking it over I'd probably be more relieved. Sure, I may have bid my "max" on the coin during the auction, but often that is my "max" bid based on the auction photos and the fact there isn't a return privilege. Now that the dealer has it, I may be happy to pay a little more to know the dealer thought the coin was special, to see the coin in hand and to have the ability to send it right back if it doesn't meet my expectations. Of course it's true that the same thing could have possibly been accomplished with having the dealer represent me at the auction for slightly less of a fee, but that only assumes that I would have known which dealer was going to be the strong bidder on the particular coin.

    Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448

  • RYKRYK Posts: 35,799 ✭✭✭✭✭
    Something very similar happened to me a few years ago. I purchased the coin, still own it, and have no regrets for buying it after the fact.
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    Relieved , given the two two choices. Just because the bidding ends doesn't mean the person who bought it wouldn't have gone several bids higher. The next bid doesn't mean it's going to be a winning bid. I actually would be VERY nervous if I were to get a steal on Heritage meaning dealers or savvy bidders passed on it.....................

    FWIW, last month I was outbid on a coin I was stalking. It showed up on Legends site. I spoke George and bought the coin. One hour later he e-mailed me and offered me money not to take the coin. Another customer wanted it. MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • BAJJERFANBAJJERFAN Posts: 31,208 ✭✭✭✭✭
    Not sure I would ever buy a coin that would compliment my set.
    theknowitalltroll;
  • RYKRYK Posts: 35,799 ✭✭✭✭✭


    << <i>Not sure I would ever buy a coin that would compliment my set. >>


    I agree. I like my coins to keep their mouths shut. image
    My Box of 20: https://pcgs.com/setregistry/collectors-showcase/box-20/ryks-gold-box-20/17132
  • IGWTIGWT Posts: 4,975 ✭
    Complement, not compliment.

    I'd be happy to have another chance at the coin. That said, it's sometimes wiser to let a coin go to a dealer istead of bidding it up. There are two occasions where I was able to buy a coin from a dealer for less than I was willing to bid at auction.

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,480 ✭✭✭✭✭
    I would choose the latter if that 20% was based on a coin under a certain amount, but if I was collecting in the arena that some of you boys are collecting in, I'd go home with my tail 'tween me legs, upset with my own shortcomings for not getting it the first go 'round, if that makes sense.
  • mumumumu Posts: 1,840
    It depends on one very important element I think. Did you lose the coin in the auction because you bid your highest bid and it wasnt enough? In this case losers remorse may have hit and your desire for the coin is now greater and thus your highest bid is now greater.

    Or did you bid the highest amount you thought you could win it with and was wrong. In eaither case I think the auction has to become like the last roullette spin. Doesnt matter what that was, do i want this coin at this new price. The plus side at least is tha tyou know the top and dont have to bid it.
  • PerryHallPerryHall Posts: 46,633 ✭✭✭✭✭


    << <i>If I have to pay more for it,I don't want it! After all,I already bid the highest amount that I care to pay for it. That is why I was out bid. >>



    Agree. Can you really enjoy owning a coin knowing that you overpaid for it?

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • robkoolrobkool Posts: 5,934 ✭✭✭✭✭
    Very unhappy... Now I will have to pay more. image
    Ebay items for sale Current BIN's / The Kingdom Collection
  • coincollector2007coincollector2007 Posts: 109
    I have a dealer represent me. The situation has not happened in the past 6 years.
  • 500Bay500Bay Posts: 1,107 ✭✭✭
    It only bothers me when I am the second highest bidder on a coin past reserve that shows up for sale on Heritage the next week for a higher fixed price.

    They can see my bid, and only bid one increment higher to buy it and resell it.
    Finem Respice
  • SaorAlbaSaorAlba Posts: 7,593 ✭✭✭✭✭
    I have been outbid on stuff I really wanted, but I was not willing to go higher and then seen the coin on the dealers site a couple of weeks later. A dealer that is also a member here, but I figure they just have a good eye for nice coins too and were willing to pay more money than I was. I buy from that dealer, they have good stuff and are great to deal with.
    Tir nam beann, nan gleann, s'nan gaisgeach ~ Saorstat Albanaich a nis!
  • earlyAurumearlyAurum Posts: 747 ✭✭✭✭✭
    I am usually relieved to see it in a dealer's inventory. I am curious as to what was the logic was behind the purchase (crackout, cross-over, cac...). I ususally won't go after the coin but follow the aging of the inventory item.
  • MoldnutMoldnut Posts: 3,112 ✭✭✭✭


    << <i>I am usually relieved to see it in a dealer's inventory. I am curious as to what was the logic was behind the purchase (crackout, cross-over, cac...). I ususally won't go after the coin but follow the aging of the inventory item. >>



    I agree! I still see coins I was the underbidder on in a dealers inventory and that was 2+ years agoimage
    Derek

    EAC 6024
  • waterzooeywaterzooey Posts: 412
    If I want the coin for my core sets I get the coin. No coin that I have WANTED for my core sets have I ever lost. I do not let this scenario ever play out...


    John


  • messydeskmessydesk Posts: 20,187 ✭✭✭✭✭


    << <i>

    << <i>Not sure I would ever buy a coin that would compliment my set. >>


    I agree. I like my coins to keep their mouths shut. image >>


    What's wrong with Peace dollars?
    John
    Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
  • partagaspartagas Posts: 2,056 ✭✭✭
    I get mad, I have seen it too many times. I bid a fair price, then I lose. I check a week later and it is consigned by the buyer to a dealers inventory with a huge mark up.

    That coin now becomes undesirable to me, I pass and wait for a better example.
    If I say something in the woods, and my wife isn't around. Am I still wrong?
  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭
    I recently had the opposite happen. I saw a BIN on ebay for $595 and wanted the coin but the auction ended ( I thought the coin had been bought with the BIN) Two weeks later, a different dealer had the exact same coin on ebay with a BIN of $395 and I jumped on it. I have no idea why. All I know is I am very happy with my "foil"error.
  • eggboneeggbone Posts: 615 ✭
    I (think)really that I would buy it in lieu of waiting more years for another specimen to turn up.
    image

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