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<p>[QUOTE=&quot;panzerman, post: 25250031, member: 77704&quot;]OK/ with all auctions/ they have a &quot;starting&quot; or opening bid.</p><p>So/ if starting bid is 1500 euros/ your bid will have to be 1500. If you place a proxy bid of 2500 and second highest bid is 1800/ then you would win coin at 1900e. However, if your proxybid is leading on day of auction/ and during auction the bid vs you is 1800/ then your bid wins coin at 1800. Auction houses will award you coin/ if your bid is highest. K &amp; M Numismatics had an auction/ I later looked at unsold lots. A AV Tanka of Madura MS-63 was unsold at 5000US/ opening bid. So I contacted him that I wanted to buy it. He wrote back to me and said I would be able to buy it for 9500US. I then wrote to him that he made an error. Turned out there was a reserve of 9500 on coin. I then wondered why opening bid was not 9500US????????[/QUOTE]</p><p><br /></p>

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