Message:

<p>[QUOTE=&quot;dougsmit, post: 4471477, member: 19463&quot;]Thank you.&nbsp; That is exactly how I feel about European auctions.&nbsp; I don&#039;t collect terribly expensive coins so sometimes it seems that the post office makes more profit on a sale than any of the participants. </p><p><br /></p><p>Those of you who are sitting there raising bids every time someone else out bids you, really should try the other method.&nbsp; Send in honest bids giving what you are willing to pay to get that coin.&nbsp; If no one wants it more, you get it for a small advance over the second highest bid.&nbsp; This sale had a coin I really wanted (217) starting at half what I was willing to pay.&nbsp; I bid my top number and lost by more than I felt comfortable paying so there was no back and forth from me.&nbsp; The winner had bid nearly a hundred dollars more but got it for only a little more than I bid.&nbsp; The next lot (418) was a more evenly popular coin since the winner only was reduced by $1.&nbsp;&nbsp; The lots I won included one that hammered at $19 less than my bid.&nbsp; Participants might enjoy looking over the prices realized and seeing that some bids got reduced a lot and others not due to intense competition.&nbsp; It is fun to see which lots you might actually have won with a little more and which ones were ridiculous in your opinion.&nbsp; There is one lot that went for over ten times the start and I can not understand why. Two bidders wanted it a lot more than I did; one got it.&nbsp; In any sale, there are similar things to see in Prices Realized but very few sellers disclose the size of the winning bid so you do not know if you had bid a dollar more whether you might have won.&nbsp; Even when Frank shows only a dollar difference, you do not know what would have happened if you had raised your bid.&nbsp; There always could be another bidder lurking in the background ready to drop another raise near closing. </p><p><br /></p><p>There are several sub-hobbies available to us.&nbsp; I take photos.&nbsp; Some study the history extensively.&nbsp; Some spend a lot of time reading Prices Realized and playing &quot;What were they thinking?&quot; when some coins go through the roof.[/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