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<p>[QUOTE=&quot;red_spork, post: 7803458, member: 74282&quot;]Underestimation is, in my opinion, an overall good thing. When I look at my bids there are a number where I might have bid double or more what the estimate was but won the coin for a good bit under that. Sometimes there were technical reasons for such things (e.g. issues with the auction site live bidding), other times I think I just got lucky and sometimes I honestly suspect I overestimated a coin&#039;s value in my head. Everything else being the same I&#039;d rather place a $550 bid on a lot with a $250 &quot;estimate&quot; than place a $550 bid on a lot with a $500 &quot;estimate&quot; even if the $250 estimate seems laughable.</p><p><br /></p><p>There&#039;s one auction house that, particularly with coins they own(often bought relatively recently at auction), tend to estimate a little high in my opinion and place opening bids right around what I&#039;d consider a reasonable max bid. I have won a few coins from this auction houses inventory at opening bid but I always felt like I might have gotten a better price had they estimated those coins more closely to how they estimate their consignors&#039; coins.</p><p><br /></p><p>At the end of the day I always bid what I&#039;m actually comfortable paying so it isn&#039;t that big of a deal but I much prefer the chance that a coin will hammer lower even if they usually don&#039;t. Maybe I&#039;ll feel differently about low estimates if I consign my collection, but as a buyer I feel pretty comfortable coming up with my own estimate as far as value and bidding based on whatever that number is, regardless of what number the auction house has decided to call the estimate.[/QUOTE]</p><p><br /></p>

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