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How come this coin sold for so much?
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<p>[QUOTE="rg3, post: 6542094, member: 79213"]I have (luckily) been the underbidder in one Heritage lot where (I assume) several bidders hit the bid button nearly simultaneously at open. They do not seem to employ software with a forced time lapse between bids. My goal was to bid 400 and I ended up bidding something like 1200. I was immediately overbid and the lot closed at that price. I learned a lesson in bid button hitting patience that day. Perhaps this occurs in some of these ultra high bid cases?</p><p><br /></p><p>It is probable some firms bid on their own lots and drive the price to a high level (like an undisclosed min). I’ve seen some coins driven high in auction and immediately dropped to a VCoins store as if unsold. This may also be acceptable behavior for consigners - bid up to a personal undisclosed min and only pay the commission if you win the coin back. The latter tactics make me think I’m playing online poker against colluding players (or in an Adam Sandler movie). I guess that is why it’s good to know your personal max for each coin before you bid. Just hope auction houses don’t get on the data mining train and calculate how far each bidder could be pushed based on history and other available metrics. This may be sci fi, or a good reason to use a trusted dealer to bid on your behalf.</p><p><br /></p><p>To tell you the truth, I can’t make a judgement on the coins you posted (they are not in my wheelhouse). Just thought I’d throw in my two cents with the acknowledgement that generally prices are attaining levels I have not seen in my short time (5 years) collecting.[/QUOTE]</p><p><br /></p>
[QUOTE="rg3, post: 6542094, member: 79213"]I have (luckily) been the underbidder in one Heritage lot where (I assume) several bidders hit the bid button nearly simultaneously at open. They do not seem to employ software with a forced time lapse between bids. My goal was to bid 400 and I ended up bidding something like 1200. I was immediately overbid and the lot closed at that price. I learned a lesson in bid button hitting patience that day. Perhaps this occurs in some of these ultra high bid cases? It is probable some firms bid on their own lots and drive the price to a high level (like an undisclosed min). I’ve seen some coins driven high in auction and immediately dropped to a VCoins store as if unsold. This may also be acceptable behavior for consigners - bid up to a personal undisclosed min and only pay the commission if you win the coin back. The latter tactics make me think I’m playing online poker against colluding players (or in an Adam Sandler movie). I guess that is why it’s good to know your personal max for each coin before you bid. Just hope auction houses don’t get on the data mining train and calculate how far each bidder could be pushed based on history and other available metrics. This may be sci fi, or a good reason to use a trusted dealer to bid on your behalf. To tell you the truth, I can’t make a judgement on the coins you posted (they are not in my wheelhouse). Just thought I’d throw in my two cents with the acknowledgement that generally prices are attaining levels I have not seen in my short time (5 years) collecting.[/QUOTE]
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How come this coin sold for so much?
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