Auction Tactics
Boosibri
Posts: 12,407 ✭✭✭✭✭
Curious for auctions like Heritage, Stacks and Legend...
Do you more often bid early and to your max thinking that others will have a similar limit and not choose to surpass you
Do you bid late during the live session or later in the internet bidding wanting to drop your bids with little time left in the auction
Edited for iPhone spelling issues
Do you more often bid early and to your max thinking that others will have a similar limit and not choose to surpass you
Do you bid late during the live session or later in the internet bidding wanting to drop your bids with little time left in the auction
Edited for iPhone spelling issues
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Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
Rainbow Stars
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1) It gave an equally interested party a target to chip away at.
2) It "locked up" my coin budget for possibly a couple of weeks. I'm budget conscious, so that put me on the sidelines when/if something ELSE popped up....and I tended to lose out on both coins.
So, now I track and monitor until about 2 or 3 days prior to going live, and make a decision then. Either walk away, bid my max at that point, or try to snipe during live.
there's another one on Heritage with a "make offer to owner" that I'll give consideration to.
Great transactions with oih82w8, JasonGaming, Moose1913.
Sometimes, on more expensive coins less easy to price, I may have posted an internet/podium bid 30% below my limit and then be on the phone with a house-supplied bidding agent, and bidding live too. And I have a gimmick beyond that . .
I'm not an ebay sniper, but the principal holds true. When you bid high early on you encourage people's sense of value because you have validated it with an immediate pre-programmed higher bid. Let them work to find a level without your help.
It's not the week(s) before the sale that matter. Only the last 30 seconds count.
Bidding early gives casual bidders time to think about whether they want to spend the money. If the price starts to move in the final minute, the casual bidders, generally speaking, are scared off because they don't have time to think about it.
<< <i>Great topic, to tell you the truth I am secretly waiting for Crypto & Co. to respond and hear what he has to say about this subject matter due to the fact that he is the king of T$1 collusion, would never want to be on the consigning end in an auction with him and his buddies bidding
Your comprehension on many thing but specifically how auctions work is lacking. Your inability to differentiate between stepping aside for a friend and collusion is telling about the number of friends you (don't) have. Even if we were, all that would do in theory would make it cheaper for other collectors to compete. Even if I was able to control every collector who would consider bidding it would then go to the dealers and auction houses don't typically let stuff go for free or do I control them too.
Not sure why I even bother responding to that neurotic little fish.
<< <i>I just bid on something coming up at FUN on Heritage. I usually get all involved in sniping hoopla but this time I figured out my max (including the juice) and placed the bid. If I don't win
there's another one on Heritage with a "make offer to owner" that I'll give consideration to. >>
Well it didn't last long- I got outbid already!
Great transactions with oih82w8, JasonGaming, Moose1913.
<< <i>When you bid high early on you encourage people's sense of value because you have validated it with an immediate pre-programmed higher bid. Let them work to find a level without your help. >>
This makes loads of sense to me.
Latin American Collection
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<< <i>
<< <i>Great topic, to tell you the truth I am secretly waiting for Crypto & Co. to respond and hear what he has to say about this subject matter due to the fact that he is the king of T$1 collusion, would never want to be on the consigning end in an auction with him and his buddies bidding
Your comprehension on many thing but specifically how auctions work is lacking. Your inability to differentiate between stepping aside for a friend and collusion is telling about the number of friends you (don't) have. Even if we were, all that would do in theory would make it cheaper for other collectors to compete. Even if I was able to control every collector who would consider bidding it would then go to the dealers and auction houses don't typically let stuff go for free or do I control them too.
Not sure why I even bother responding to that neurotic little fish. >>
You are responding because you feel guilty of your past activities.
You have previously admitted to me when you were trying to recruit me to join your T$1 group that you are involved in a large group of T$1 collectors who all are stepping aside to allow a chosen one to get the T$1 at a drastically low price to reward their loyalty and keep purchase prices down. Since you guys aren't selling you at this time you are only interested in acquiring your T$1's at the lowest prices possible to complete your collections and that is your main motivation and justification. How can you tell me this doesn't hurt the consignor, you are effectively stopping most of the bidding since as you know Trades are pretty thinly traded to begin with and especially the varieties that you all go after and thus you are artificially not allowing the prices to go to where they had the potential of going. The consignor which could be you some day is getting hurt besides the Auction House, I know we all don't care about them but it needs to be stated. You are not putting yourself in the consignor's shoes and only thinking of yourself. You have admitted to me that you are trying to keep the prices artificially lowered so that you all can acquire the coins in your collection at cheap prices but we all know what will happen when you all decide to eventually sell your collections right? You think you will be colluding then to keep the prices low or will it be not ok then?
Look I love buying coins at low prices , who doesn't, and while there is nothing wrong with telling your friend that you will back off bidding and allow him to have it because of the close relationship, when most of the collectors are involved the word is collusion and that changes things drastically. Not only do you all collude but the added kicker is you do it forcefully with the threat of throwing the member out of the club and ridiculing them and making them pay a what you believe to be is a heavy consequence thru bullying. I never even joined your lovely group and still have to deal with the nonsense from you guys because I wouldn't go along with your planned games.But I am glad that I didn't join and go along with your clubs rules and become another collusive member, I can sleep at night knowing that I have not hurt any fellow collector who happens to be a seller. I have nothing to feel guilty about, I never joined your ranks. BTW, I am sure you don't like it when dealers collude, that is absolutely wrong in your book but collectors doing the same exact thing is fine when it comes to saving money right? >>
Is any of this true? Can any of it be substantiated?
Auction basics is all dependent on the coin and finances available for me.
<< <i>I tend to max bid and then forget about it. Saves me from getting caught up in I've bidding unless something I am really dying to have. >>
This, except I forget about the bidding afterward. Either I get the coin, or I don't. There's no particular coin I must have.
"Seu cabra da peste,
"Sou Mangueira......."
Always bid late.
<< <i>
<< <i>
<< <i>Great topic, to tell you the truth I am secretly waiting for Crypto & Co. to respond and hear what he has to say about this subject matter due to the fact that he is the king of T$1 collusion, would never want to be on the consigning end in an auction with him and his buddies bidding
Your comprehension on many thing but specifically how auctions work is lacking. Your inability to differentiate between stepping aside for a friend and collusion is telling about the number of friends you (don't) have. Even if we were, all that would do in theory would make it cheaper for other collectors to compete. Even if I was able to control every collector who would consider bidding it would then go to the dealers and auction houses don't typically let stuff go for free or do I control them too.
Not sure why I even bother responding to that neurotic little fish. >>
You are responding because you feel guilty of your past activities.
You have previously admitted to me when you were trying to recruit me to join your T$1 group that you are involved in a large group of T$1 collectors who all are stepping aside to allow a chosen one to get the T$1 at a drastically low price to reward their loyalty and keep purchase prices down. Since you guys aren't selling you at this time you are only interested in acquiring your T$1's at the lowest prices possible to complete your collections and that is your main motivation and justification. How can you tell me this doesn't hurt the consignor, you are effectively stopping most of the bidding since as you know Trades are pretty thinly traded to begin with and especially the varieties that you all go after and thus you are artificially not allowing the prices to go to where they had the potential of going. The consignor which could be you some day is getting hurt besides the Auction House, I know we all don't care about them but it needs to be stated. You are not putting yourself in the consignor's shoes and only thinking of yourself. You have admitted to me that you are trying to keep the prices artificially lowered so that you all can acquire the coins in your collection at cheap prices but we all know what will happen when you all decide to eventually sell your collections right? You think you will be colluding then to keep the prices low or will it be not ok then?
Look I love buying coins at low prices , who doesn't, and while there is nothing wrong with telling your friend that you will back off bidding and allow him to have it because of the close relationship, when most of the collectors are involved the word is collusion and that changes things drastically. Not only do you all collude but the added kicker is you do it forcefully with the threat of throwing the member out of the club and ridiculing them and making them pay a what you believe to be is a heavy consequence thru bullying. I never even joined your lovely group and still have to deal with the nonsense from you guys because I wouldn't go along with your planned games.But I am glad that I didn't join and go along with your clubs rules and become another collusive member, I can sleep at night knowing that I have not hurt any fellow collector who happens to be a seller. I have nothing to feel guilty about, I never joined your ranks. BTW, I am sure you don't like it when dealers collude, that is absolutely wrong in your book but collectors doing the same exact thing is fine when it comes to saving money right? >>
Crypto---Can anyone join your group or is it by invitation only? I would sure like to buy some cheap TD's.
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
<< <i>
<< <i>In the words of the Godfather, "never let anyone outside the family know what you're thinking".
Always bid late. >>
And I realize things won't change, glad I am not seller of Trades at this time that is for certain. Because without me bidding I wouldn't feel comfortable with the results
I cant imagine a small group controlling anything unless very specialized. A few collectors that doesn't include dealers, with all the auctions out there are all the time just doesn't seem irrelevant.
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<< <i>My impression is that prices for nice trade dollars in proper holders has only been going up up up. I have had to really stretch to win nice coins lately. >>
You are welcome
Just verify with Crypto, he isn't happy these days with my bidding tactics and possibly one other collector
You overstate your relevance RO, you only know what to collect by coping my set and logic would state I already have the coin before you know what to buy next or that it even exists. You are no threat to me on any level
I used to bid on Teletrade - but now only on ebay - I get 2% ebay bucks back on purchases and can use auction sniper plus no buyers fee.
I did try one of the auction houses mentioned but felt like (1) they hosed me on shipping, (2) the bidders paid too much for coins, (3) they charged me sales tax on currency - so never again with them; not to mention their outrageous buyers fee. At a show I never bid on auctions as I set up and would rather buy off the floor or from walk up traffic. With AS I can pull my bids before the auction closes; the others your money is tied up. At any auction at a major show your bidding against people with very deep pockets where ego can come into play.
<< <i>Curious for auctions like Heritage, Stacks and Legend...
Do you more often bid early and to your max thinking that others will have a similar limit and not choose to surpass you
Do you bid late during the live session or later in the internet bidding wanting to drop your bids with little time left in the auction
Edited for iPhone spelling issues >>
I like to bid live, or, if that is not possible, using a snipe or pre-bid at the last possible moment. There is no benefit to me to tip my hand too early to other bidders, or to the auction house.
Coin Rarities Online
<< <i>Boosibri and Realone can you please stop your immature little game you're playing. You both are loosing much respect here in my opinion.
Auction basics is all dependent on the coin and finances available for me. >>
What did I do?
Latin American Collection
Everyone should have a fixed price in their mind and don't get emotionally carried away with the bidding and wind up overpaying.
The best strategy is to bid as late as possible simply to prevent another bidder from driving the price up.
Latin American Collection
Though I did aquire my 3 legger Buff through Heritage with an early Max bid forgotten.....
Sure glad I don't collect Trade Dollars
Happy, humble, honored and proud recipient of the “You Suck” award 10/22/2014
<< <i>
<< <i>Boosibri and Realone can you please stop your immature little game you're playing. You both are loosing much respect here in my opinion.
Auction basics is all dependent on the coin and finances available for me. >>
What did I do? >>
Good question, but whatever it was, it's too late it take it back now.
<< <i>In theory, bidders colluding to hold down the price is a per se violation of the Sherman Act. In practice, bidders who have colluded have been fined, forced to disgorge illegally obtained profits (typically they flipped the item), imprisoned, and placed on probation. Evidence of collusion is, of course, required. >>
A ring of stamp dealers was prosecuted in Philly about 40 years ago. Since then, at least up until now, things have been quiet.
But apparently the Illuminatti are back in town. Their main focuses: Trade dollars and credit-default swaps. . .
Collusion is collusion, it really doesn't matter what you wish it was called.
World Collection
British Collection
German States Collection