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Message:: [QUOTE="IdesOfMarch01, post: 3130617, member: 39084"]While it's not my intention to defend or castigate a particular auctioneer, the above post puzzles me in a few ways: Most auction houses set their opening bid to 70% - 80% of their estimate.  Roma sets it at 80%.  If their estimates are reasonable, why should they change their opening bid?  What does "more accurate estimates" have to do with anything? What, exactly, is a "fair price" at a coin auction? Do you mean the entire auction's "setup" or are just disagreeing with the 80% opening bid price?  What's wrong with Roma's "setup?" It's my understanding that (legally) the auction house is representing the seller not the buyer.  Most lots will be from individual consigners and not owned by the auction house.  So it's the goal of the auctioneer to please its clients and get the highest auction price that still garners bidders.  What's wrong with that? You can always make an offer less than the opening bid.  I've done this, and while my offer failed, I later won the coin at a different auction for a lower price than I privately offered the previous auctioneer. 4to2centBC, please don't misunderstand -- I'm not questioning your sincerity in raising these issues that bother you, but I genuinely don't understand the above points you're trying to make.[/QUOTE]