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<p>[QUOTE=&quot;dougsmit, post: 2062431, member: 19463&quot;]Rules vary from auction to auction but in most yo never can know if the second high bidder could have won with one more bid or if the winner was covered for another thousand or more.&nbsp; When I started in the hobby it was common to see dealers state clearly that &#039;Buy&#039; bids would not be accepted.&nbsp; Sometimes they would received two bids from people who said, &quot;I will bid one advance higher than the highest other bid you get.&quot;&nbsp; Now it is quite possible to bid $1000 and get a coin for what it was worth under $100 or to bid $1000 and lose to someone who bid the same number but did so a few seconds before you did.</p><p><br /></p><p>Another thread here discusses the small auction run by Frank Robinson.&nbsp; His prices realized are very unusual in that they give not only what the winner paid (one advance over the second bidder) but what that winner had been willing to pay if necessary.&nbsp; I note, for example, lot 8 sold for $375 on a bid of&nbsp; $1800.&nbsp; Yes someone really wanted that coin.&nbsp; I do not know why.[/QUOTE]</p><p><br /></p>

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