Message:

<p>[QUOTE=&quot;iPen, post: 2742321, member: 69760&quot;]There are exceptions though. If it&#039;s a homogeneous product with many, many items already available, then it&#039;s best to bid the competitive price at the very beginning. Even though you could just Buy It Now at a competitive price for homogeneous goods, you have a chance at paying less than the Buy It Now price.</p><p><br /></p><p>You bid early instead of last second because the price is practically guaranteed to reach the competitive price, and the first buyer to bid that price wins. So for instance, if there are thousands of a given year&#039;s proof sets up for sale, there will be a competitive price. In that case, your maximum bid is the competitive price. If say, the proof sets are sold at $10, other buyers see the auction price and see that they sold for $10 and are available for $10 from other sellers now. Buyers will want to buy it for less so they have every incentive to bid up to $10. If they bid incrementally and it gets up to $9.50, the next bid amount will be $10 and there&#039;s no longer as luring an incentive to bid $10 (though some do), and they&#039;ll evacuate to another auction of the same item but at a cheaper current bid price.</p><p><br /></p><p>With rare coins or numismatics in general, this situation applies less in my opinion.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in