How often do you find yourself NOT bidding or raising your auction bid because the required incremen
coinguy1
Posts: 13,484 ✭✭✭
If you were running a major auction house, what bidding increments would you set, either in terms of %'s or dollar amounts?
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I think a $25 increment is fair, at that level. But the seller, of course, is free to choose.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
it's a no-win for the auction house; if they set lower increments this thread would be about Lots creeping along and low prices realized by consigners. it's human nature, or so it seems, to find something to bitch about.
Russ, NCNE
What if you're only willing to pay a quarter more than the present bid for an item? Therein
lies the dilemma.
(Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
eBaystore
Current Bid
Bid Increment
< $10
$1
$10 - $29
$2
$30 - $59
$3
$60 - $99
$5
$100 - $199
$10
$200 - $299
$20
$300 - $499
$25
$500 - $999
$50
$1,000 - $1,999
$100
$2,000 - $2,999
$200
$3,000 - $4,999
$250
$5,000 - $9,999
$500
These look to be about 10% of current high bid, at the start of the next range. I would like to see this somewhere between 3% and 5%, instead of the 10%.
Often times I do not place my bid with Heritage auctions, because I am only willing to go part of an increment. I normally bid on items in the range above $500, so even at the start another increment costs me an extra $57.50. Basically, an increment works out to almost an entire dealer profit margin.
<< <i>Russ,
What if you're only willing to pay a quarter more than the present bid for an item? Therein
lies the dilemma. >>
Well, if it's something I really want, I'll sacrifice and skip dinner that evening.
Russ, NCNE
I never do since my bid reflects a bargain price while the next bid increment would push the price into stupid money territory
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New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.