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<p>[QUOTE=&quot;kirispupis, post: 8233393, member: 118780&quot;]Many thanks to all who have responded! As I suspected, this was a case of me not understanding how the auction works fully. IMHO, it&#039;s still not fair - but that&#039;s how the auction works.</p><p><br /></p><p>The following is what happened.</p><p>- I bid 700 CHF. The current bid is now at 550 and my max is 700.</p><p>- I upped that max to 750 CHF. Since the current bid didn&#039;t change, the system just increased my earlier bid to 750, as if I&#039;d originally bid 750.</p><p>- &quot;Dr Evil&quot; then bid 605 CHF. Since this was more than the bid increment (50) it was allowed. The system immediately bid 650 for me, and since mine was higher I remained the winner at 650.</p><p>- Dr Evil then bid 755, which his again over the bid increment. The system immediately bid 750 for me, and since he was higher, he won.</p><p><br /></p><p>As has already been mentioned, most auctions work this way. Where I was caught off guard is that most other auction houses limit which bids you may place through a dropdown. This eliminates these petty snipes. Some allow typed bids as pre-bids, but during the live portion all bids are via dropdown.</p><p><br /></p><p>As I already mentioned, the reason I put a pre-bid was I knew I would be unavailable for the auction. I&#039;ve been called foolish for doing this, but given that this was a cruise for our anniversary, the divorce proceedings would have certainly been more than 750 CHF.</p><p><br /></p><p>Ultimately, it wasn&#039;t too bad. I bid on two coins at this auction and the one I won was significantly rarer, with only 4 recorded sales on acsearch (including a previous sale of this copy), and this one being the best of type. It previously sold in November 2020 for 480 CHF, and I won it for 500. An inferior copy sold at CNG for 1800 USD.</p><p><br /></p><p>It is frustrating that this is the third time I&#039;ve lost this particular coin, but unlike the other one I will have other opportunities. Even 750 was a bit too high given the condition, so there&#039;s a good chance I&#039;ll obtain a better one.</p><p><br /></p><p>Again, many thanks for the help in understanding this.[/QUOTE]</p><p><br /></p>

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