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<p>[QUOTE=&quot;Publius2, post: 8276044, member: 105571&quot;]For most of us, and for most of the coins we would like to obtain, it isn&#039;t a good financial strategy to bid a price that is significantly greater than we think the coin is worth.&nbsp; I understand that sometimes we want what we want pretty much regardless of the price.&nbsp; But for most of the people and most of the time, we don&#039;t want to pay a lot more than what most other people would pay.</p><p><br /></p><p>For example, if you think the FMV of the coin is $1000, but you put in a bid for $3000, the odds are you&#039;re going to win a significant fraction of those auctions.&nbsp; But you definitely run the risk of some of those wins having an underbidder who is just as motivated as you thus driving your cost way up.&nbsp; And if there&#039;s the slightest possibility of a shill, this strategy can have very uncomfortable consequences.</p><p><br /></p><p>Like I said, if it&#039;s something you&#039;ve just got to have, then bid high whether early or late as you think best.&nbsp; But I prefer to see how auctions are going before I make a commitment.&nbsp; And frankly, there are very few coins that are affordable to me that cannot be obtained elsewhere if this specimen gets away.</p><p><br /></p><p>That said, I let a nice coin I was going to bid on get away last night because my wife wanted me to watch a show with her so I missed watching the last few minutes of the auction and putting a bid in.&nbsp; Possibly might have picked that very nice coin up for a decent but fair price.&nbsp; But there&#039;ll be another one that comes along.[/QUOTE]</p><p><br /></p>

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