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Message:: [QUOTE="GregH, post: 4879832, member: 75936"]Auction house estimates are usually meaningless. I suspect their estimates are low so they can advertise that their auctions routinely outperform the estimates. My strategy is never bid until the auction is about to close. Premature bidding inflates the price & provides opportunity to be outbid. For "common" coins like, say a Zeno solidus, most bidders will know what it's worth. The auction price will rise to reasonable value, and there comes a point where the next increment will bring the price to retail level (taking into account those stupid buyer's fees!). Be the last bidder before the next increment is retail. For less common high-demand coins like, say a high quality Julius Caesar portrait denarius, it's really hard to say what to bid. You need to want the coin more than everyone else, and there's no bargains to be had with these coins.[/QUOTE]