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<p>[QUOTE=&quot;robinjojo, post: 7913640, member: 110226&quot;]I think there is an element of psychology when it comes to auction estimates.&nbsp; Obviously an estimate that is too high will discourage bidding.&nbsp; I&#039;ve noticed that, in some floor auctions, a lot that does not attract any bids will open at a percentage below the estimate in a effort to attract bids.&nbsp; Sometimes that works, other times it doesn&#039;t. </p><p><br /></p><p>Low estimates, compared to what a comparable coin would fetch in the retail market, are meant to attract bids and to create momentum with successive bids.&nbsp; Given the degree that a coin is deemed desirable among the active bidders, that can result in a hammer price significantly over the estimate.&nbsp; So many factors come into play, including the Ego (or lack thereof) of each bidder, and the amount of money a bidder is willing to commit to win a lot, that experienced bidders who have gone down this road many times before recognize the fact that low estimates are really just a portal for very higher hammer prices, in the end.[/QUOTE]</p><p><br /></p>

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