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Has a savvy auctioneer ever coaxed an extra bid out of you...?
Coinstartled
Posts: 10,135 ✭✭✭✭✭
If so were you still satisfied with the purchase.
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Coinstartled
Posts: 10,135 ✭✭✭✭✭
Coinstartled
Posts: 10,135 ✭✭✭✭✭
Coinstartled
Posts: 10,135 ✭✭✭✭✭
Comments
Yes and yes.
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947)
https://www.ngccoin.com/registry/competitive-sets/16292/
Nope !!!
No, I set a price and that's it.
I have at least a couple of times. Setting a limit is fine but real life is less robotic.
I think at this point in auction history the bidders can mask their intentions much more easily. I saw two bidders at multiple Pogue sales who were on the phone and a computer. In different niches, each bid with a paddle. He several times laid off and a new phone bidder continued against a floor or previous phone bidder and won. I set something like this up once with an proxy bidder to take it at $60K and won at $67.5K on my first floor bid (the cut, after my guy wobbled waffled and wavered at $60K). On a different rhythm, I give him a nod or a no on a cut at $62.5K and beyond.
However, Ben Stack certainly whupped me with a palm tree plenty of times. I remember a wiped '21 Saint I stupidly made 30% on. I loved the raw days. Three bidders would be at $4000 on a half-dime and the 80% of the crowd that figured it for $450 max would be calling out "Stretch! Stretch!" in schadenfreude and the guy at the podium had no clue to value but that blood was in the water, and that was enough.
Quantum leaps in telecommunications technology have made the "big" auction venues much less relevant for "reading the room" .
Bob Merrill at Heritage can charm an extra bid or three out of a crowd at his sessions. Herb Melnick could 35 years ago.
Not yet.
Gonna get me a $50 Octagonal someday. Some. Day.
A friend of mine had a failed party store.
I watched the auction.
The auctioneer was amazing.
He would point to the guy who was about to bid against himself.
I have heard of this "potted plant." Do I take that to mean that the auction caller literally assigned the next (higher) bid to a non-existent bidder? What happened if no one bid after that - did he then try to pawn the lot off on the underbidder?
I will now believe it was a "savvy auctioneer", rather than my own stupidity.
Consistently, in which case the response at $2300 is to immediately and noticeably shake your head, thrust your paddle in the air and call out $1800, at which point 30% of the audience is already grinning or shaking their heads
.
An actual competitor virtually always appeared and you could bid your top with impunity afterwards, usually a half-increment cheaper or more.
Stacks sold a lot of house coins and Larry bought some neat stuff out of their own auctions that a year or two later he would re-consign. I have a garbage-can memory and sometimes don't know what I've noticed until I'm reminded. Took me until its 3rd appearance to buy the Northern Bay (last massively-great raw silver type auction) 1839 ND 50c. A dozen others likely noticed it as being the third time 'round in three years, and likely thought I didn't know what I was doing. I took it for its first trip ever outside of 57th St and made about 15% quickly at the next Long Beach on a walk-thru..
But nobody gets played like that anymore. Too much transparency via archival access.
I’m pretty sure I raised my own bid once. Does that count?
I have a feeling that a fair number of us have never bid live in an auction. Much easier to keep your head attached when sitting in your easy chair at home.....
Much easier to slam the bid tab and yell "you ain't getting it you SOB", while hunched over the keyboard at home.
Live auctions can be very interesting when the testosterone starts flowing...I have seen some crazy things happen at auctions.... Personally, I have a set value at live auctions. I have tossed in nuclear bids on ebay and paid a tad more than planned... but no complaints on those. Cheers, RickO
Yes, three weeks ago, a bag of foreign currency...I don't even collect foreign currency. Yet, it was indicated in listing the bag had an exchange value of $152...I didn't know for sure. Auctioneer said, "Get it started Rich..." well, I did, and ended up buying for $15. Found a bank that would exchange, Had Chinese, Brazilian, Taiwan, Polish, and some Bahamian currency. Some of the currency they wouldn't take due to age, and I started getting a bit nervous when the teller was asking me if I visited those countries, traveled, etc., and I thought to myself, "I'm the only one stupid enough to do this....wth am I doing....."?
I ended up getting $48 in exchange...just hope I'm not put on the no fly list, phone tapped, and get my accounts frozen...lol! heehee.
I think it's funny when they publicly challenge you....." Are you gonna let him beat you over a $500 bill??" Lol
“I may not believe in myself but I believe in what I’m doing” ~Jimmy Page~
My Full Walker Registry Set (1916-1947)
https://www.ngccoin.com/registry/competitive-sets/16292/
I haven't, but I've seen people get caught up in the "FRENZY!!!"
I saw a guy hold his paddle up against the wall once. His way of letting everyone know that he was going to win it unless you pushed him too high - then he would let it drop and leave you stuck with it.
Not a bad strategy.
Yup, when bidding was down to 2 usually, and the underbidder was slow to bid/stopped, my local auctioneer used to say almost the same things. “Don’t let him/her do that to you, 1 more (bid) you might have it” or “I think they’re weakening, try it one more time” and yes... often I’d jump back in
"You Suck Award" - February, 2015
Discoverer of 1919 Mercury Dime DDO - FS-101
My parents liked antiques and in the summer we often headed to the rural auctions to kill an afternoon.
I asked my dad for a quarter to get a hot dog. He waved me off and the auctioneer took it as a bid. He ended up winning a set of bizarre ships lanterns.
He told the story to anyone that would listen for the next 30 years. Guess the 4 bucks turned out to be a bargain.
I miss the old man.
Rural auctions are a lot of fun. Sometimes one even gets some cool and unusual things at great prices. I have never encountered good coins at a good price, though.
My hands would be shaking and won't able to raise neither.....How would you know if there are "fix" bidders out there working together to prop the increments?
@Paradisefound.... If you go to enough trade auctions, you can usually spot them... if you are an occasional attendee, then you will not know. I attended police firearm auctions a few times and they were ok...no fake bidders there. Cheers, RickO
No, but I did yell at a phone agent to tell the auctioneer to close the lot when he inexplicably paused at length multiple times for another single phone bidder who had been chipping away at my pre-sale max but was still several substantial increments away from eclipsing me.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
No need to coax a bid out of me when I really like a coin...I can’t shut up.
rainbowroosie April 1, 2003
Nope
Yes it was Dan Dotson with Storage Wars he said come on Rice you want to be a bride or a bridesmaid, That's all it took after that he called me the bid em up man, made some pay good $$$ for nothing.
Hoard the keys.