Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Ancient Coins
>
What is the most over estimate you ever bid?
>
Reply to Thread
Message:
<p>[QUOTE="Cherd, post: 8337776, member: 24754"]I'm of the mind that auction house estimates don't mean much, and honestly, I feel that it is unethical for them to give estimates in the first place. (It's up to the bidders to determine the price, not the middle man).</p><p><br /></p><p>I think that auction houses use estimates, like everything else, as a tool to leverage the highest sale prices possible. If they believe that an item might fly under the radar, then they'll inflate the estimate to convey the idea that it is special. If an item's value is readily apparent to everyone (famous coin or something), then they lowball the estimate in order to bolster their reputation for having reasonable estimates.</p><p><br /></p><p>I've honestly gotten pretty good a blocking estimates out of my mind, so I don't know what my maximum multiple has been. I determine what -> I <- am willing to pay for a coin and then bid that amount. If that amount was ever affected by an estimate, then I've successfully been manipulated.[/QUOTE]</p><p><br /></p>
[QUOTE="Cherd, post: 8337776, member: 24754"]I'm of the mind that auction house estimates don't mean much, and honestly, I feel that it is unethical for them to give estimates in the first place. (It's up to the bidders to determine the price, not the middle man). I think that auction houses use estimates, like everything else, as a tool to leverage the highest sale prices possible. If they believe that an item might fly under the radar, then they'll inflate the estimate to convey the idea that it is special. If an item's value is readily apparent to everyone (famous coin or something), then they lowball the estimate in order to bolster their reputation for having reasonable estimates. I've honestly gotten pretty good a blocking estimates out of my mind, so I don't know what my maximum multiple has been. I determine what -> I <- am willing to pay for a coin and then bid that amount. If that amount was ever affected by an estimate, then I've successfully been manipulated.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Ancient Coins
>
What is the most over estimate you ever bid?
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...