Bid retractions on MS68 Goodacre

DHeath

Looks like a nice coin. It's interesting that both high bidders retracted. Am I missing something, or is "I don't need the coin anymore" a good reason to retract? Are the registry buyers demands satisfied? It'll be interesting to watch.

IrishMike

Link

DHeath

Thanks Mike, I forgot the link.

wondercoin

Don: I am not saying it happened in this case, but by retracting a bid in a reserve auction one is able to "smoke out" what the reserve is on the coin. It has happened to me once or twice in the past 5 years on ebay as a seller. Wondercoin.

fletch2645

I think wondercoin is right. One of the retracting bidders was trying to "smoke out" the reserve. Interesting (but not very ethical) way of doing it. I bid on the coin several days earlier and am the current #2 bidder. Oval57 outbid me yesterday (I think). I'll be leaving it alone now as I have acquired one in a private transaction in MS68 for my registry set. Good Luck to Oval57. Unfortunately, he probably doesn't know what the reserve is.

fletch2645

This one hammered down at $700+ so I guess the retractions didn't matter after all.