Nuclear bids! Ever done it?

Shamika · December 25, 2014 6:32AM

Ever throw down a nuclear bid on an item you just HAD to have? Ever get burned in the process?

I did it once on a very rare item that I had to have. Unfortunately (or fortunately) another collector did the same and managed to out bid me although he was shocked by my underbid. We eventually became friends so I like to think we both came out ahead.

MGLICKER · December 25, 2014 6:40AM

<< Ever throw down a nuclear bid on an item you just HAD to have? Ever get burned in the process? >>

Yes.

Of course!

Boosibri · December 25, 2014 6:40AM

<< Ever throw down a nuclear bid on an item you just HAD to have? Ever get burned in the process?

I did it once on a very rare item that I had to have. Unfortunately (or fortunately) another collector did the same and managed to out bid me although he was shocked by my underbid. We eventually became friends so I like to think we both came out ahead.

>>

In the case in the OP please define nuclear. I can't say ever losing my mind with a bid but I can recall, very recently, bidding at unseen before levels for a very nice coin which I won. I was near double past APR's. This amounts to paying $7k for a coin with past APR's near $4k.

MGLICKER · December 25, 2014 6:47AM

OT but an interesting story.

A close friend was looking for a very rare record album since the late 1970's. When I bought my first computer in 2000 I checked Ebay and the album was available on auction. I put in a huge bid as I wanted to pick up the piece as a gift.

Coin doubled in price in the last 3 seconds and I was the winner at $300. Had the record delivered to my friend and he was thrilled. They continued to show up on Ebay every three or four weeks and he asked me to bid strongly on each for his behalf.

Several months later he owned about 13 copies at a bit over $300, each.

Today they bring about $20 delivered.......go figure!

Shamika · December 25, 2014 7:04AM

<< In the case in the OP please define nuclear. >>

I'll let each person define what he/she considers a "nuclear bid". But for me, it's an amount that I would NOT be happy to pay if I actually had to do so.

scubafuel · December 25, 2014 7:09AM

It's pretty amazing how quickly ebay redefined what was "rare".

I have put down exactly two nuclear bids before, both on ebay. One I won for 1/6 of my bid (yay!) and one I lost despite upping my bid in the last few seconds. This was back when ebay showed each bidder's user name, so I knew exactly who I was up against. As far as I know he still has the coin, and his final bid still ended up being a good deal in the end, though it took a few years.

I do miss the old days on ebay!

291fifth · December 25, 2014 7:34AM

I once put in a bid (more than $100) that was about 10x catalog for an Irish note I knew had a rare date. Three seconds before the auction ended my bid was surpassed by two other bidders.

About a year later I was able to pick up another example of the same date for less than $10.

Beware of irrational exuberance when it comes to thin markets.

seanq · December 25, 2014 7:42AM

I've never bid more than I would ultimately be willing to pay, but I've placed several bids large enough to make someone question my sanity. Most of the time I end up winning for well under my maximum, I cannot easily recall a time where I got burned by bidding too much.

Sean Reynolds

ms70 · December 25, 2014 7:55AM

Years back I remember someone putting a $1500 bid on a $20 coin. Someone dropped a bigger nuke. I can only imagine their face when they refreshed the screen.

Shamika · December 25, 2014 8:26AM

<< I have put down exactly two nuclear bids before, both on ebay. One I won for 1/6 of my bid (yay!) and one I lost despite upping my bid in the last few seconds. This was back when ebay showed each bidder's user name, so I knew exactly who I was up against.

I do miss the old days on ebay! >>

Yea, I too miss the old days. Things were much more transparent back then. You could actually contact the winner of auctions that you might have forgotten to snipe.

Shamika · December 25, 2014 8:27AM

<< Years back I remember someone putting a $1500 bid on a $20 coin. Someone dropped a bigger nuke. I can only imagine their face when they refreshed the screen. >>

I seem to remember a thread on this coin. Hmmm....

lablover · December 25, 2014 9:03AM

Yes, and yes. Been burned several times...well worth it to have the best-of-the-best!!! No regrets...

ricko · December 25, 2014 9:18AM

Yes, definitely....when I used to frequent ebay.... would place a nuclear bid at snipe (usually with less than 4 seconds to spare)... and won at less than bid...but beat any 'overbid' already placed. Never lost an auction that I really wanted...and always a manual snipe....Cheers, RickO

MGLICKER · December 25, 2014 10:44AM

<< I do miss the old days on ebay! >>

Amen.

Lakesammman · December 25, 2014 10:48AM

Remember the day on ebay when you could find what others were tracking??

I ocasionally put in a white hot nuclear bid now and then but have learned it's better to be patient - there are very few unique items in the areas I collect.

LotsoLuck · December 25, 2014 10:51AM

There was a darksider that had my sisters name on it. I put something like a $300 bid on it and ended up getting it for $35-$40 Something like that

CaptHenway · December 25, 2014 11:11AM

Back when I was seriously collecting Honduras, a very rare piece came up on eBay that our foreign guy, who was real good at guessing what stuff would bring, said it should bring $1500. I bid $4000, and was outbid.

stman · December 25, 2014 11:22AM

Why yes, yes I have........ usually when I buy retail from some dealers.

Barndog · December 25, 2014 1:01PM

when I bid "nuclear" I bid at what I consider full retail. And I define full retail as the price at which a coin would sell in a well-publicized and well-advertised auction targeted to specialists in my series (capped bust half dimes). So I can recall two times bidding nuclear: One was for the sole mint state example of the 1829 LM-11 die marriage. The other was for the finest known example of the 1832 LM-9.2 die remarriage.

Neither coin was in a well-publilcized, well-advertised auction.
Neither coin was attributed by the auction house.
Neither coin had stellar images.
Neither coin was in a "floor" type of auction. Both were online only.

I had zero competition for the 1829 (yep, the SOLE bid). I had one other knowledgeable collector bidding against me on the 1832, but he (then) lacked knowledge of how truly valuable/rare the coin is.

I won the 1829 for about 1/12 of my max bid.
I won the 1832 for about 1/7 of my max bid.

keyman64 · December 25, 2014 1:17PM

Yes, once! Got buried and I am selling it now regardless. The highest price ever paid for a 1931-D Merc! I have enjoyed it and think it is very nice. Live and learn.

OldIndianNutKase · December 25, 2014 1:27PM

Without defining NUCLEAR, I would say that I have placed large bids on eBay hoping that no one was anywhere close to what I was willing to pay.

Heritage Auctions et al are more rational as you are bidding mano a mano unless you place a nuclear jump bid. Or is this what you are referring to????

OINK

SmEagle1795 · December 25, 2014 2:14PM

On a coin estimated at $500, I planed to bid $10000 never got a chance as three bidders chased it up to $12,500. Now I'm kicking myself as a slightly nicer example just sold for $60K.

EVillageProwler · December 25, 2014 3:01PM

Many years ago, I chased an 1876 TD in 64. No big deal, except that it was a double-sided PL. As a regular coin, it was worth about $2000 back then. I bid against another floor bidder (a dealer), and we chased it over $4000 hammer. I don't recall the final bid, but I was the underbidder. It felt like all eyes were on me when I bowed out. This was perhaps 1999 or 2000. Nearly 15 years later, I've yet to see another double-sided PL TD in fairly high MS grade.

Not sure if I dodged a bullet or not, but I really wish I had won that coin.

EVP

OldIndianNutKase · December 25, 2014 4:06PM

<< Many years ago, I chased an 1876 TD in 64. No big deal, except that it was a double-sided PL. As a regular coin, it was worth about $2000 back then. I bid against another floor bidder (a dealer), and we chased it over $4000 hammer. I don't recall the final bid, but I was the underbidder. It felt like all eyes were on me when I bowed out. This was perhaps 1999 or 2000. Nearly 15 years later, I've yet to see another double-sided PL TD in fairly high MS grade.

Not sure if I dodged a bullet or not, but I really wish I had won that coin.

EVP >>

I think that you dodged that bullet.

OINK

19Lyds · December 25, 2014 4:43PM

Yes. Once which worked out and the other time it didn't work out as well as I had though.

Nuclear bids! Ever done it?

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