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<p>[QUOTE=&quot;Tom B, post: 1516251, member: 11854&quot;]The seller may have acquired the coin directly from Heritage after viewing auction lots in-hand and realizing the coin was nicer than portrayed in the Heritage images.&nbsp; In cases such as these, the people who make the time and expend the effort and resources to view lots in-hand have a great advantage over those who rely on an internet purchase and all the conveniences that the internet provides.&nbsp; Therefore, his possible expenditure of resources may have allowed him to acquire the coin at a level lower than it may have realized with better images, with a return policy or with an in-hand inspection.&nbsp; A buyer can never be entitled to a single bid increment increase upon purchase of a coin that was in a prior auction, but if the coin fit the description written above then the coin might reasonably be priced at far higher than a one bid increment increase. </p><p><br /></p><p>I have a real example of this that happened to me during the Heritage FUN auction at Tampa, FL in January, 2011.&nbsp; I took the time and spent my resources to attend the show and examine lots in-hand.&nbsp; Of course, this is my business so it was a business expense.&nbsp; Two lots in the auction were <i>far nicer </i> than the images suggested and I won both lots.&nbsp; One of those lots was for a circulated Seated Liberty dime that has a <i>Greysheet </i> bid of about $40, but routinely sells for around $80.&nbsp; I won this dime for $75 and subsequently listed it on my website at $125.&nbsp; Within a day of having the coin listed, with very good images that I had taken, I had three folks request to purchase the dime.&nbsp; However, one of those potential buyers told me that he thought the 67% potential profit was excessive and that I should reduce my sales price.&nbsp; His reasoning on 67% was the $50 difference in the Heritage sales price and my listed price.&nbsp; I kindly pointed out to him that Heritage charges $14 <i>minimum per lot </i> won, which raised the price to $89.&nbsp; Further, the auction closed after the show closed and I was not in attendance in Tampa, FL when it closed so Heritage charged me approximatley $12 per coin to ship the coins to me, which then raised my cost to $101 for the coin.&nbsp; Finally, I pay for shipping and insurance on coins sent to clients, which means that the coin likely cost me $107 out of pocket before a client even examined the piece in-hand.&nbsp; All of a sudden, my $125 asking price seemed quite modest for a superb coin.[/QUOTE]</p><p><br /></p>

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