Message:

<p>[QUOTE=&quot;dougsmit, post: 2344211, member: 19463&quot;]I&#039;ve told this story before so I apologize to those who have heard it.</p><p><br /></p><p>eBay used to have a sale type (Dutch Auction) where the seller would post a number of like items and buyers would bid their high price and how many they would buy at that price.&nbsp; Every winner paid only the lowest price offered for the last item in the lot.&nbsp; </p><p><br /></p><p>I saw a post for 35 Roman denarii.&nbsp; I bid $50 on 34 of them which was considerably more than they were worth.&nbsp; Another person bid $10 (I do not know if he wanted more than one but I only left one) so both of us paid $10 per coin (He $10, I $340 for the 34).&nbsp; I was risking the seller would send him the coin I wanted but it was not obvious which one it was.&nbsp; eBay rules required items to be all the same so this was really not a &#039;legal&#039; sale but as far as they were concerned a denarius was a denarius so it was OK.&nbsp; I got a note for the seller saying the winner of the one would really like the Elagabalus in the group and he wanted my permission to send it to him rather than picking his blindly as he really should.&nbsp; I was thrilled.&nbsp; That meant the one out of 35 chance I had of losing my coin was gone.&nbsp; I could have bid on all 35 coins but that would have made me pay $50 per coin so I was risking losing that coin to save a lot of money.&nbsp; Of course if one other bidder had offered $51 for one coin, I would have had to pay $50 for the 34 since my bid would have been the one that set the price.&nbsp; If that buyer of one got my coin I could have been out $1700 and not got my coin.&nbsp; I was a nervous wreck and elated when the other guy wanted the Elagabalus.&nbsp; </p><p><br /></p><p>I ended up accessioning 7 coins out of the 34 into my collection and gave and traded the other 27 coins which were not worth keeping in my opinion.&nbsp; I made no profit on the junkers.&nbsp; Two were later traded off leaving 5 I still have.&nbsp; Below are the 5.&nbsp; Are these worth the $300 or so I have in them?&nbsp; I still think so.&nbsp; Most of you won&#039;t.&nbsp; Not long after that, eBay killed the Dutch Auction format so I never again had to sweat out a deal like that.&nbsp; YOC, I wish you well.</p><p>[ATTACH=full]476623[/ATTACH] [ATTACH=full]476624[/ATTACH] [ATTACH=full]476625[/ATTACH] [ATTACH=full]476627[/ATTACH] [ATTACH=full]476628[/ATTACH][/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