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<p>[QUOTE="Orielensis, post: 3251282, member: 96898"]Just as [USER=56859]@TIF[/USER] said, there's absolutely nothing wrong with this. I should have expressed myself more clearly. When I confessed to 'auction scavenging,' this was accompanied by a little smirk because that's what I regularly do at the many auctions where I can't afford to really bid. Since the starting bid can be understood as the lowest price the consignor and the auction house are willing to accept, I consider that way of buying coins perfectly fine and fair.</p><p><br /></p><p>But, as [USER=56859]@TIF[/USER] said, the AMCC auctions work a bit differently. Severus Alexander, at his own risk, offers starting bids below the minimum that the consignor would accept. Since he does so, it's completely fair that he sells unsold lots at this minimum and not at the starting price. Therefore, there is a realistic chance of getting better bargains in the auction than in the post-auction sale. And, considering that Severus Alexander takes the risk of the low starting price, I'd find it totally okay if he advertised this 'chance of better bargains' before his auctions, and thus used it to attract the number of bids that he needs to break even or make a little profit.</p><p><br /></p><p>That was my only point in the post above and I hope it is clearer now. I didn't mean to offend anyone![/QUOTE]</p><p><br /></p>
[QUOTE="Orielensis, post: 3251282, member: 96898"]Just as [USER=56859]@TIF[/USER] said, there's absolutely nothing wrong with this. I should have expressed myself more clearly. When I confessed to 'auction scavenging,' this was accompanied by a little smirk because that's what I regularly do at the many auctions where I can't afford to really bid. Since the starting bid can be understood as the lowest price the consignor and the auction house are willing to accept, I consider that way of buying coins perfectly fine and fair. But, as [USER=56859]@TIF[/USER] said, the AMCC auctions work a bit differently. Severus Alexander, at his own risk, offers starting bids below the minimum that the consignor would accept. Since he does so, it's completely fair that he sells unsold lots at this minimum and not at the starting price. Therefore, there is a realistic chance of getting better bargains in the auction than in the post-auction sale. And, considering that Severus Alexander takes the risk of the low starting price, I'd find it totally okay if he advertised this 'chance of better bargains' before his auctions, and thus used it to attract the number of bids that he needs to break even or make a little profit. That was my only point in the post above and I hope it is clearer now. I didn't mean to offend anyone![/QUOTE]
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Ancient and Medieval Coins Canada - First Auction
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