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<p>[QUOTE=&quot;-jeffB, post: 5576421, member: 27832&quot;]&quot;Place your maximum bid and wait&quot; works fine as long as <i>all the other bidders are rational too</i>. But they aren&#039;t. So, if you put in your maximum bid of $500, someone who <i>thought</i> he was only going to have to bid $400 might talk himself into going up, because he <i>just has to have it</i>. If you put in a <i>snipe</i> of $500, the other guy can put in his $400 bid, but unless he&#039;s got fast reflexes, he won&#039;t have time to outbid you, and you&#039;ll get it for $405 (or whatever the increment is at that level these days).</p><p><br /></p><p>Then there&#039;s the whole cherry-picking scene, where a lot is sitting at $10 but it contains a variety worth $5000. Another bidder <i>thinks</i> he&#039;s identified that variety, but isn&#039;t sure, and puts in a bid at $30. You put in your $5000 bid, and now it&#039;s at $31 -- and the other guy starts to think he&#039;s <i>probably right</i> about that variety, and starts bidding against you. If it gets high enough, <i>that alone</i> can attract attention from others (&quot;why is that set of three common dimes bid up to $31, OH LOOK AT THAT, a 1942/1-D I do believe!&quot;). Not that that would ever happen in real life, of course -- <a href="https://www.cointalk.com/threads/ladies-and-gents-shes-back-from-ngc-1942-41-d.223814/#post-1655707" class="internalLink ProxyLink" data-proxy-href="https://www.cointalk.com/threads/ladies-and-gents-shes-back-from-ngc-1942-41-d.223814/#post-1655707">in real life, it was a $25,000 coin</a>. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie11" alt=":rolleyes:" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>

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