What is your auction strategy....
Coinstartled
Posts: 10,135 ✭✭✭✭✭
when you have placed your max bid on a pricier coin? Do you follow the auction to the end or hide in a safe space until it is over.
I usually go the safe space approach to keep from overbidding.
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I snipe bid in the last 5 seconds or less. Why bid a coin up during the week when you need to win at the end. Unfortunately some people have to be winning all week.
Later, Paul.
I place my max bid and live life as normal
mark
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......
I used to snipe on Ebay. Quit when I outbid a good customer in the last seconds of an auction. He said that sniping was kind of slimy. I agreed.
I tend not to bid at all anymore unless it is something I won't see again for a decade or longer. If I do throw my hat in the ring, I'll snipe if on eBay or bid from Heritage live in the live auction.
I'm with Mark, I place my max bid and live life as normal.
To me, coins are a small part of my life - simply disks of metal.
And for Coinstartled, I snipe often on Ebay - who cares who you out bid? A good customer should be smart enough to either bid the market price or have no issues buying the coin from you at a profit.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
I usually put a reasonably strong bid in early, and watch it countdown
Depending on my mood I'll try to snipe it at 7 secs
I place a bid and that's it. If I win I'm happy.
Selling on Ebay was much more important to me at the time than buying. That was during the Whitman years when you didn't get rogered on the fees,
It kind of depends on whether I believe my "max bid" is really a winning bid!
If I believe it will get the job done, I'll bid and ignore, (for the most part...It's hard to not follow).
If I think my max is suspect, I might follow, and snipe to try to make it good.
I've had success and failure both ways. In the end, it's easy to convince yourself you did it the "right way"....it's harder to come up with any proof.
The more I like the coin the more I'll focus on winning
I've never been in a coin auction. Where and when, are there auctions frequently? Sounds like it might be fun to watch but expensive to bid...
Proxy bids. Set your max and walk away. It's like sniping only you don't need to be there.
Lance.
The thing I've found hard about Heritage is knowing when your lot will end. With eBay, the end time is known. With Heritage it's not known which I'm still getting used to.
Me too. I put in my max and leave it alone. too much temptation if following the bidding to the bitter end and I'm being outbid!
Put my bid in a move along. I'm not usually sitting by my tablet waiting for my lot to come up. Wait a minute, that's all I do is sit and wait for my lot to come up. OMG. My life is all about superficial coinage and it's relationship to world history. What a waste. What do I tell my kids? BTW, I consider myself a numismatist.
US Civil War coinage
Historical Medals
Track the coins and do all necessary research. About 45 minutes before close of auction, begin slamming shots of Jim Beam. Place outrageous bid(s) within seconds of the close of auction. Upon winning, pay the bill IMMEDIATELY via PayPal. Go outside and water lawn, flowers, etc. Upon receiving coin(s) DO NOT, repeat, DO DOT look at invoice. Enjoy coins. Enjoy life. Repeat standard operating procedure at first available opportunity.
...if there were a "Respect" button I would have pressed it
I usually piace a nominal bid, like $1 at the beginning so that it's easier for me to track the item. Heritage sends you daily emails. As for the end, I often place my max bid on-line and let it go. Sometimes I bid on-line during the live auction.
I rarely bid live at the auction. One time I got caught up and paid way too much for something. I love the coin, and the piece is remarkable, but it is a burial financially.
When I used to buy on ebay (now rarely), I enjoyed sniping.... would set up two screens for the countdown... best snipe was three seconds.... Never lost an item I really wanted....Nothing sleazy about sniping, part of the game..... and I was good at it....
Cheers, RickO
Any of them nice toners?
@Coinstartled - Not in my house.....
Seriously, I will not go after tarnished coins... and especially now with the exorbitant premiums..... In the past, one could get a tarnished coin cheaply and just dip it if so desired. Back then I purchased a couple for experiments (no special coins, mainly just low end, not fit for hole filling).
Cheers, RickO
If I really want something I am a Statue of Liberty in the last few seconds!
For coins that I really want....one bid higher than Bill Jones' max bid.
The Statue of Liberty (SOL) or Nuclear Bid Option (NBO) never worked well for me. Always ended up over-paying and regretting the purchases....even on finest known examples. That's not to say there isn't a right time for either one of those. Dealers with a following of minions can use those tactics and always sell to a customer....just because they were willing to pay X, the customer should be fine with X+(10%-15%). Collectors don't have those outlets.
my "strategies" for bidding are about like my "strategies" for gambling...at least they turn out the same way.
I usually try to snipe in the closing 5 seconds of auction; however, at times when I'm unable due to work, or, auction ending late at night, I bid the maximum I'm willing to pay for coin then let all alone.