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<p>[QUOTE=&quot;GDJMSP, post: 2298921, member: 112&quot;]Then you didn&#039;t do bad.</p><p><br /></p><p><br /></p><p><br /></p><p>Care to explain why ?</p><p><br /></p><p><br /></p><p><br /></p><p>No it&#039;s not crazy, it&#039;s quite intentional. And it is done for a reason.</p><p><br /></p><p>Basic rule, don&#039;t ever pay any attention to estimates given in auctions. Estimates are pretty much always quite low, often only a fraction of what the auction house knows the coin is likely to bring. The reason for this is pretty simple - low estimates bring more bids. And more bids results in a higher realized price in the end. Auction houses know and understand only too well how human nature works. </p><p><br /></p><p>Get a guy thinking he can get a bargain and he&#039;ll bid on it, just in case if for no other reason. They also know that once a bid is made, even a low bid, as soon as a higher one comes in the low bidder is going to bid again because he wants to win. Get 2 people doing this, let alone 3 or 4, and you have a bidding war. That&#039;s when the auction house starts rubbing their hands together with a smile on their face.</p><p><br /></p><p>Auction houses have typically been in business for many years. Their business is knowing how to get the most out of what they offer for sale. Does anyone really think they could have remained in business for all those years if they weren&#039;t really good at doing that ? </p><p><br /></p><p>Now I&#039;m not maligning auction houses, I&#039;m merely telling you that they are very good at what they do. But that is the nature of business, you have to be good at what you do or you won&#039;t stay in business.</p><p><br /></p><p>Your job, as a buyer, is to be good at what you do. And the first rule of being good at what you do is to first know what you are doing. And that means you have to know more about the coins than the other folks bidding on them. Otherwise you&#039;ll end up paying too much. Do that, and you&#039;ll never go wrong.[/QUOTE]</p><p><br /></p>

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