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<p>[QUOTE=&quot;dougsmit, post: 4797922, member: 19463&quot;]Not nice?&nbsp; Bidding on lots should be telling everyone just what the coin is worth to you.&nbsp; If no one else wants it more, you get it at your price.&nbsp; If we only bid on coins we want at any price but not on coins we only want for our price, results would be much lower and many lots would not sell.&nbsp; Auctions hate lots that get no bids or just one bid so they sell at the reserve.&nbsp; The idea of an auction is to sell the lot at a price just higher that the level of the second highest bidder.&nbsp; I suspect Frank gets many bids on his sales at the minimum acceptable level/start price.&nbsp; Some people buy the lot at that level but had put in a higher bid just in case there was competition.&nbsp; I have won coins for 1/3 the bid I entered.&nbsp; I have also won lots for the start price when that was all I bid but no one else wanted the item.&nbsp; Both ways, I win the lot. Things even out &#039;nicely&#039;.&nbsp; If you bid on every lot in a sale but only bid the minimum acceptable bid, There will be no unsold lots unless the seller has a secret reserve higher than the start price.&nbsp; I consider that a sleazy practice believing a lot should start at a number that will result in a sale and not waste my time bidding on a coin that they really did not want to sell.[/QUOTE]</p><p><br /></p>

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