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<p>[QUOTE="Andrew McCabe, post: 7708475, member: 90666"]Cut bids is a privilege that only room or telephone bidders have, and there are (legal) rules around it. The online bidding platforms don't generally allow cut bids (I recall one platform does) but it's been a feature of room auctions for centuries, so it's not gonna go away. And about hammer speed, it's not so much about wait time differing, but the internet is just much slower. So if you wait three seconds on the internet the coin is gone because the button to bid again probably took a few seconds to appear. The in-room person can still bid again (even with a cut) until the number is completely spoken by the auctioneer by which time the online bid button is gone (although if there is another bid of course bidding reopens).</p><p><br /></p><p>And there are personal dynamics in the room - an in-room bidder can see when someone else is gonna give up by their body language (eg they put down their card or turn away) and then knows to press on. They also will know whether the competition is in the room (serious players) or online (might or might not be serious players) whereas online bidders often don't know. Other stuffs too - they'll be aware when a serious bidder has left the room to go for a comfort break or catch a last plane. Is it any wonder there are often bargains in the late evening sessions of high end auctions?</p><p><br /></p><p><b>You can overcome all these in-room advantages by keeping on pressing the bid button, but the one thing the internet doesn't allow is hesitation.</b> You gotta keep pressing the button, fast. As a result, when internet bidders do win, they have often overpaid since there's less thinking time than the person in the room.</p><p><br /></p><p>If you are serious about collecting higher end coins, get an agent in the room. That's how it is. The agent adds a huge amount of value through viewing. That's the main thing. They'll tell you how the surfaces look and if there's anything strange with the edge and all sorts of stuff you cannot see from a photograph that could be worth multiple bid increments. You gotta pay for the service. It's well worth it indeed a huge bargain for any serious collector.</p><p><br /></p><p>Be in the room (or via agent or telephone). Every serious collector knows that.</p><p><br /></p><p>It's how it is.[/QUOTE]</p><p><br /></p>
[QUOTE="Andrew McCabe, post: 7708475, member: 90666"]Cut bids is a privilege that only room or telephone bidders have, and there are (legal) rules around it. The online bidding platforms don't generally allow cut bids (I recall one platform does) but it's been a feature of room auctions for centuries, so it's not gonna go away. And about hammer speed, it's not so much about wait time differing, but the internet is just much slower. So if you wait three seconds on the internet the coin is gone because the button to bid again probably took a few seconds to appear. The in-room person can still bid again (even with a cut) until the number is completely spoken by the auctioneer by which time the online bid button is gone (although if there is another bid of course bidding reopens). And there are personal dynamics in the room - an in-room bidder can see when someone else is gonna give up by their body language (eg they put down their card or turn away) and then knows to press on. They also will know whether the competition is in the room (serious players) or online (might or might not be serious players) whereas online bidders often don't know. Other stuffs too - they'll be aware when a serious bidder has left the room to go for a comfort break or catch a last plane. Is it any wonder there are often bargains in the late evening sessions of high end auctions? [B]You can overcome all these in-room advantages by keeping on pressing the bid button, but the one thing the internet doesn't allow is hesitation.[/B] You gotta keep pressing the button, fast. As a result, when internet bidders do win, they have often overpaid since there's less thinking time than the person in the room. If you are serious about collecting higher end coins, get an agent in the room. That's how it is. The agent adds a huge amount of value through viewing. That's the main thing. They'll tell you how the surfaces look and if there's anything strange with the edge and all sorts of stuff you cannot see from a photograph that could be worth multiple bid increments. You gotta pay for the service. It's well worth it indeed a huge bargain for any serious collector. Be in the room (or via agent or telephone). Every serious collector knows that. It's how it is.[/QUOTE]
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