Post your Bidding war mistakes

Here is my bidding war mistake. This coin is absolutely magnificent, and is one of the highest graded PL's for the Franklin series. At the time I bought it, I was assembling my award-winning Franklin set and just starting on my PL set.... and I *had* to have it.

It is graded NGC MS-65 + FBL PL. I paid $3.3k for it.... laugh away:

 

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Yes, The Dark Side.
The Tiberius is decent not $660 decent. Nero escapes me everytime I want one but I'm patient.
Good luck @Michael Clarke once in the dark side you may never see the light again.

 

When you have a credit card and are new to the hobby, that's a very dangerous mix. I was chasing plastic and grades and not quality. Luckily I was able to sell most all at cost or a tad more, but I could have done way better.

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$3,300? Ouch! It is beautiful though.

Still, for that kind of cash you could have bought a Julius Caesar lifetime portrait denarius, only minted for 30 days prior to his assassination (and very rare). Oh well.

 

Well, it is the 3rd highest graded out of only 33 designated PL's for the Franklin half series. So I'm not too disappointed.

 

Oh this is an over paid thread. Well damn how many pages am I allowed to use? We've all done it, comes with the territory. It's not an investment just plain enjoyment.

 

@Michael Clarke If you had told us in the ancients forum that you wanted a Tiberius, I could have pointed you to another one just like that one, graded and in an NGC holder too, that one of the dealers I frequent has for sale. And he is only asking for $400 for his.

Seriously, start following some of us ancients guys and come over to the ancients section, and we'll help you out. Ancient coins need not be expensive if you make the right contacts, do your homework, and buy from ethical dealers who won't take advantage of you because they want you as a repeat customer.

 

I'm not sure I'd call that a mistake.

 

Sallent is right. There's enough respectable ancient dealers you'll find one or two you'll feel comfortable enough.
I overpaid for a few when I first stepped into ancients. But with the people on this forum help is never far away & we'realways willing to help.

 

The problem with Heritage Live (at least the last time I used it) is that there isn't a specific bid amount displayed when you hit the "BID" button. You are bidding on the next increment above the current price, not a specified amount. Which is fine except that at times when 4 or 5 bidders make simultaneous bids, the guy who gets processed last is high bidder at 5 increments above the bid he thought he was placing. I once paced a bid when a coin was at $1,000 thinking I would be high bidder at $1,100 and much to my surprise the application said I was high bidder at $1,400 instead, which was far more than I would have bid. Lucky for me, another bidder took it above $1,400 a few seconds later. The lesson from it all for me, is to bid what I am willing to spend ahead of time, and nothing more. Proxy bid as the auction starts is probably the most effective way to win lots at reasonable prices without exposing yourself to the consequences of the free-for-all that sometimes occurs when multiple bidders are after the same lot.

 

Hard to say, seems like the bigger premiums on CAC coins come in the MS65 and up category, where they can sometimes double in value with the sticker. Frankly, it looks like a terrific example of the issue, a full head and marvelously clean fields. About the only thing that I could see that would account for the grade was the nick in the reverse legend in the letter "C". There is another minor hit in the drapery on the obverse, but the overall look of the obverse is MS63 or better at first glance.

 

This isn't exactly a bidding war mistake but more of a 'Oops, I didn't notice I forgot to delete the first digit when I reset a slightly higher maximum Boo Boo' LOL

So I was in extreme pain when approaching auction closing as the 'other' bidder(s) kept raising the cost ever closing to my intended maximum since I thought I was overpaying a bit even at that level.... and was cursing like hell when it went almost a $100.00 over that.

It's a scarce left-facing Otho denarius, but tooo low grade at 'fine' to be worth much more than $500.00 (unless a left-facing Otho is your thing) let alone the $650 ish I 'won' it for.

 

Keep your list in hand, you,ve already researched your coins so you know you want it for a specific price. Don,t bid any higher than your cut-off bid. You won,t win them all, but the ones you do win you feel happy about. I like to start my list with reasonable bids, then when it goes to final auction, many bidders won,t compete with you and you get it at your first bid. Many of these auctions are during cocktail time, so go by your list and not your emotions.