What is so special about this coin?

I was going to try to win this 1921 Lincoln http://cgi.ebay.com/ws/eBayISAPI.dl...66&ssPageName=STRK:MEBIDX:IT&autorefresh=true. I closely read the sellers description and decided I would only try half heartedly because the seller descriptions are usually correct and "A NOTABLE IS SOME LIGHT SCATTERED TONE FLECKS ON THE SURFACES AND SOME TONING ON LINCOLNS SHOULDER." kind of through me off a bit. So anyway,I am watching it close going for $110 which sounds about right to me and is more than I am going to pay.

Right before it ends, it jumps to $281!!! What am I missing. I downgrade the coin and it goes for nearly double the PCGS price chart ($180).

 

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Bidiot?

 

It just happened that two people wanted it so the price went crazy. The only mistake I can see that was made was the losing bidder, a***r, placed his bid way too soon. The winner, c***e, had more than 6-1/2 minutes to enter another bid before the auction closed. Since he had already bid before, you can tell that his final bid was not the max from his previous bid, otherwise, it would have posted immediately after the bid posted by the losing bidder. If a***r had been smart, he/she would have waited to hit the "Commit" button until there was only 3-5 seconds left, and the winner would not have had enough time to react.

That is one of the advantages of using a sniping service. You can set your max bid days in advance and forget about it. The service will automatically enter your bid with 3-5 seconds remaining and the competition doesn't even see it coming. If the bidding should go higher than your preset max, the service will notify you by e-mail so that you can decide if you want to increase it or not.

I used a sniping service for several years, but I had to quit because it was so successful (85% wins) that I was spending way too much money.

Chris

 

I think that said it almost - bidiots. Took more than one of them. The loser should be grateful he lost - in my opinion. I am still not convinced snipping works. I like to bid once and forget about it - if I lose, well that means someone overbid for it. Well not always, but in most cases - on occasion I do bid a really low amount that I would spend for a coin I don't really need or want(like $100 for ngc/pcgs graded cc morgan). Been a long time since I did that. Just my opinion.

 

Yes, it does. Take this auction for example. The bid was at $108 when the losing bidder placed his bid of $276. The winning bidder entered his bid 6-1/2 minutes later. If the losing bidder had been using a sniping service, it is very likely that he might have won the coin for a lot less. Let's assume that he had placed his max bet with the sniping service at the same amount, $276, and let's suppose that the person who won felt that there might not be any more bidding so he tried to "steal" it for, say, $125. With only a few seconds left, the person who ultimately lost would have won for probably less than $130. He gave the winner too much time to think about how much he wanted to bid.

The majority of the auctions I won while using a sniping service were not because I placed ridiculously high bids, but because of the timing of the bid. When your competition only has only 3-5 seconds left, even if they are hovering over the "Commit" button, the auction program cannot refresh fast enough to pick up the bid.

Chris

 

Crazy! He paid 65 money for a 64 coin. Hey, I'm glad, may that'll help increase the value of my collection!

 

Don't get me wrong - I agree with your concept. Just sniping will not help if another sniper is willing to pay way more than the coin is worth. If I was to use a sniping program most of my bids would not get placed to start with since the auctions are usually more than I am willing to spend before the last minute(I would get all those emails). And yes the last two might battle it out in the final seconds. And even by hand I can get a bid in with 8 seconds to go - but even then I have placed a bid and had it come back and say it is not high enough. Now if I was trying to win coins to resale - then yes I would probably try something like this. As it is I do not find much on ebay anymore worth bidding on.

 

If you look at the automatic bids as well you can tell this was a case of two "I gotta have it" bidders who both put in silly money bids.

On 5/19 at 23:16:15 A***_ placed his max bid of $94.56 and had the high bid at $91.00

On 5/20 at 15:46:25 C***I placed a max bid of $108.00 and became high bidder at $95.56

On 5/20 at 16:13:34 X***X entered a bid of $101.33 but C***I retained the high bid at $103.83

On 5/20 at 16:23:20 A***R placed a max bid of $276 because he really wanted it. This raised C***I's bid to his max bid of $108.00 and A**R became the new high bidder at $110.50

On 5/20 At 16:29:52 C***E saw the high bid was $110.50 and he decided he REALLY wanted it and entered a snipe bid of $281 or more. This caused the high bid to jump to A***R's $276 crazy bid and then C***E won it at $281. Just a case of two people who each entered a crazy bid because they "had" to have it running into each other.

 

I could even understand paying that much if it were especially nice, spot free coin. However, both the description and pictures of this one tell me the exact opposite.

 

And, if one of them (such as the loser) had been using a bidding service, the winner would not have known that he was even there and would probably have lost the auction to a considerably lower bid.

Chris

 

I have seen/had that done many a times (not that high of prices though) and many times when I look at the bidding I see:

5/19 10:36:42 A**R $1
5/19 12:15:08 A**R $2
5/19 17:27:23 A**R $3
etc... In this case is A**R the same person or possibly different people?

Or
5/19 10:36:42 A**R $1
5/19 12:15:08 C**E $2
5/18 17:27:23 A**R $3
(notice the date change?)

 

Sniping usually only works if there's one sniper at play.

With two or more, someone usually always gets shot in the foot.

 

No probably not. Because he would have had his $276 bid loaded into the snipe software. The only difference would have been that the winning bidder would have seen a current high bid of $103.83 instead of $110.50 Now that MIGHT have caused him to do a snipe bid of a little less than $281 (And we really don't know what his actual snipe bid was.) But even if he did it would probably have only resulted in the formerly losing bidder winning it for $276 unless he dropped it a LOT and that wouldn't be likely with the small change from $110.50 to $103.83 His snipe bid would probably have remained the same and so would the outcome.

 

Thats pretty wild, but it more than likely was bidiots. I've seen better looking 64 reds too. This has somewhat a soooft strike...

 

I dunno, I stick to CDN pricing unless it's a toner with eye-appeal. I'd rather not have it than to pay above market pricing on "regular" coins, I don't care what the slab says.....just MHO. There's always another one somewhere that I can snag a good deal on. :smile

 

I think you may be missing my point. The winning bidder obviously was not using a bidding service since he had already placed a previous bid and his final bid was placed 6-1/2 minutes after the losing bidder placed the bid of $276. The losing bidder had never placed a previous bid, so there was no way that the winning bidder was aware of his interest. Since the high bid was $108 just prior to the losing bidder inserting his bid, what makes you think that the winning bidder would have inserted a second bid of $281 if he had no knowledge of the bid of $276. Even if he had decided to hold off his final bid until the last few seconds, I doubt that he would have placed a bid that high. It would seem more reasonable that he would have felt confident that a bid of, say, $150 would probably win. So, let's say that he hovered over the "Commit" button with a bid of $150 until the final seconds. His bid is then entered. The sniper's bid of $276 is also entered, and the sniper would win at $152.50, saving himself $123.50.

Chris

 

the answer is easy.its a "red" coin.in an older 64 holder,look at the prices next in line
someone wants to play the crackout game.I am noticing a trend in "higher" grades being given out by some.

64+220
65 375
65+565
66 1850
66+2775

 

Very possible but if the description is accurate then they lose on the coin and the grading fees. But who really knows.

 

Scenario 1: Auction for coin worth $200 - 2 snipers
Here is the point I am trying to make - If bidder 1 is willing to bid 300 on a coin and bidder number 2 is willing to spend 276 on the coin. Both using sniper software then bidder 1 will always win at 281 when the snipe kicks in with 3 seconds left. At least I think this is correct.

Scenario 2: Auction for coin worth $200 - 2 snipers
Now in this scenario two snipers watching the coin bidder 1 sets his max at 300 and bidder 2 sets his at 150. BUT bidder 2 was really willing to bid 276. The coins sits at 110 with 5 seconds to go bidder 2 thinks I got this cheap. The snipe kicks in and again bidder 1 wins but at 152.50 - saving him money.

Scneario 3: 1 Sniper 1 regular bidder Mark.
Now mark comes along and says coin is worth $200, but I am going to bid $300. Now you say coin is worth $200, but I want to snipe at 150. Now the auction is sitting at $100 - Mark is high. Now comes another bidder at bids 150. Mark is high at 152.50. Your software says beep - you need a higher maximum bid. So you decide 276. With three seconds to go your snipe bids 276 - bam Mark wins ant 281.

Scenario 4: 1 Sniper 1 regular bidder Mark.
Now mark comes along and says coin is worth $200, but I am going to bid $176.00. Now you say coin is worth $200, but I want to snipe at 150. Now the auction is sitting at $100 - Mark is high. Now comes another bidder at bids 150. Mark is high at 152.50. Your software says beep - you need a higher maximum bid. So you decide 276. With three seconds to go your snipe bids 276 - bam you win at 178.50.

If I got something wrong let me know. As far as I can tell the person with the max snip bid is going to win ONLY as long as it is higher than any of the online auctions. Yes I agree it can save one money when 2 bidders or snipers are trying to win cheap - with not putting in their true max bid. Cause with 3-4 seconds to go even snipers won't have much of a chance to go higher. It will also help you win on the out of prime time hours auctions that you don't have to be around to watch. I know in this scenario bidder 2 might have won if he did 276 in a snipe program and lured the other sniper into a false sense of security. You will just never know. I am just unwilling to fight with bidding everytime an auction hits a point - max bid mark, done, lose - winner happy and mark thinks they over paid.

 

Do you think the crack out artists pick up coins from internet pictures?
I think that would make the really hard almost impossible.