Auctions are a double edged sword.

The bidders DO care. Just about everyone I talked to does not like giving the amount they did, but they had no choice to.

 

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An auction is, by default, a competitive cut-throat winner-takes all solution to selling an item. There are at least four players: The seller, who wants the highest price, the auctioneer who wants the highest commission and to move things along, and at least two buyers who want the lowest high-price that the other guy isn't willing to bid. It's not a work-together ordeal.

What you would be more interested in is some kind of numismatic buying co-op, where people who opt in can pool their financial resources to buy coins at lower prices by striking a deal at "bulk."

It may be unheard of (at least in the coin collecting world) but it's not un-doable. It's just not an auction.

 

If you are going to practice collusion, be prepared to face the consequences that can follow. Such as being banned from the auction house. Also don't be surprised if one auction house shares your name with other auction houses and they also ban you

 

All this 'fair share' talk is starting to bring Conmunism to my head. This country is not messed up because the top wants it all, this country I messed up because people feel that they are entitled to what their neighbor has, even though they do nothing and their neighbor puts in 70+ hour work weeks.

 

Okay let me ask this.

Has anyone else, who attends coin auctions, or auctions that have coins as part of the estate, a rapid increase in competition over the last several years?

I think people are just trying to outbid newbies to auctions so they get discouraged and they don't come back, the polar opposite of colluding.

These bidders bid against them for 2-3 auctions, they get discouraged never come back. This allows the bidders to continue getting items cheaper.

 

That is a bunch of garbage though. They didn't have to bid. I would just let it go and find better sources (some local auctions in my area sell damaged coins or counterfeits). I wouldn't go to Teletrade because you seem to dislike their conduct. Plus we don't want you bidding us up.

 

I know we shouldn't get into political issues...but when I hear "fair share", I think of communism.

 

I'm done with TT for now. I'm done with slabbed coins for the time being.

If I quit going to the auctions, then it's just one less person to bid against, allowing them to get things cheaper. That's what they are wanting me to do.

 

I think you're delusional. But that's just my opinion.

 

Not really. I've heard people talk about it going on. The old dogs see a new face and make them get nothing, they get discouraged and never come back.

I've heard several people talk about a "pecking order" at auctions.

 

Dear me, do you go to those auctions where they put a gun to your head and force you to bid?
If you can find coins cheaper at a B&M store, then GO THERE!
You're incorrigible.

 

I concur.

 

At one time, many believed the earth was flat. Those who said it was round, were laughed at.

At one time, many believed the earth was the center of the universe. The person who said it was not, was jailed.

I'm not saying I'm right, but I should not be ridiculed for my ideals.

 

I would post a picture that explains my feelings, but I'd get banned

 

You can try a few bidding techniques to give you an edge. Some things that I do seem to help stay clear of the bidding wars that sometimes take place. Here are some of my personal rules:

1. If there are two people already bidding on an item that you want, wait for one to drop out before placing a bid.

2. Put in your max bid early, sometimes this will scare off other bidders and the coin is yours for what you wanted to pay. If not, let the coin go.

3. Use greysheet bid prices to your advantage. To many dealers, the greysheet is their bible and will never bid above that price. That amount is the benchmark of what you can expect to pay for any coin.

4. Realize that it is fairly rare to actually get a bargain at public auctions. Be selective in what you really want.

Let me just add that Detecto has the thickest skin on this forum. It seems like every time he starts a thread he gets ripped apart, yet he comes back for more. Just because he doesn't seem to take it personally, it really is not necessary to give him so much grief.

 

You have to understand, in regards to local auctions and common junk coins, your competeing with other coin collectors, moms and gramas buying coins for their kids, and antique hoarders that buy anything. Its not ussually a place to get a deal. Now often time a high grade coin can be had for a bargain because you may have a advantage over Grams on knowing the value

 

It's not the same thing, and you are not being ridiculed for your ideals. Having an ideal of fairness and fair play is one thing.
Conducting yourself in a dishonest manner at an auction (essentially trying to cheat the auction house and seller of the items) is another. Again....the word is collusion. Most collusion is illegal because of the dubious and dishonest nature of it.
There was no ridicule. There was honest opinion put forth by me.

 

I know what you mean. I bid on a 2012 Titanic Reverse Proof. After the price shot up to over 81.00 I quit bidding. Then come to find out the same seller had this coin for a BIN for 84.99. I really love this coin, and I'd like to get a PCGS or NGC SP 69 version. To my knowledge no SP 70s have been graded as of yet. I guess it depends on the coin and how bad a person wants it. I know in the past I've probably over payed for a coin but to me it didn't matter, I wanted it and had to have it. Other coins I place one bid and that's it. I suppose I could have gone for a raw version but I prefer slabbed. Saves me the time of having to send it in, and for that I am willing to pay a little extra.

 

Don't people who know each other, as in friends ,often not bid against each other?

 

#2 sounds like a good idea. I will have to try that.