over bidding by Newbies !

I only have a 19 on eBay and sometimes do pay what I know is too much for a certain coin. As far as I am concerned, if I want to pay it, what the heck? Sometime I can't find it at the local shop (I always try there first) and go to eBay to get what I want or need. If I have to pay a premium for it and am willing to do so, it's my money. What I really can't stand is when newbies buy items that are misrepresented as somehow "special" when really it is just something run-or the mill.

Love em when they pay us too much for a coin and hate them when they out bid us. sounds like a Catch 22 to me.
Jim

Love em hate em love em hate em

I don't really have a problem with them bidding more than I do, that just means the coin in question means more to them than it means to me or I make more educated bids than the other guy does, either way I could care less. That is one reason I use a sniping program though, my bid doesn't get placed till the last few seconds so no one can keep bidding until they just barely beat my bid but I still don't win each and every auction because sometimes you have the uneducated buyer that has already placed a bid higher than the maximum I am willing to pay and for those coins I just go look for another one and don't even think about placing another bid on any coin because that puts me in the uneducated bidding war category and thats a place I don't feel comfortable being in

Kurt, please write a book so the rest of us can buy at "half" book value! Seriously, this only means something to me if I know what "book" you are quoting from. If it's Red-book or PCGS Trends then I understand. If it's Grey-sheet or CDN let us in on the secret!

On the original subject, love it or hate it every one of us was a "newbie"(hate the word, prefer novice or beginner) at one time. Those of us who bought coins via the mail or magazine ads prior to the Internet certainly overpaid from time to time as we learned. The difference is we probably did not impact more knowledgeable collectors. As recently as last summer, I admit to over paying by 30% for a coin that I have been chasing for about a year. I got sick of being out-bid and put in an absurd bid on the coin. It could have been worse because someone could have pushed it up another 20% before I would have lost the coin. While not a rare coin per say it was a tougher date Shield Nickel that was in the grade range of the set I am trying to assemble.

Many things, not always newness to the hobby motivate coins selling for a substantial amount over current market value as most of us know. I can tell you, I learned as much or more from the coins I paid too much for than those few that I snagged real cheap. Quite frankly, although I have just admitted to overpaying on this nickel, I get more frustrated by buyers with very deep pockets whose feedback indicates they always overpay or apparently so. My rant is over, Peace and good luck to all just getting started in the hobby. Remember...read, read, read, and read some more! Mike

Why is it that when I sell coins on eBay these "Newbies" never overbid on them?

To answer the original question, NO it doesn't bother me. I just start looking for another coin to buy at the price I'm willing to pay(including shipping charges)

I find being outbid a mixed blessing. Although I lose out on a lot of items, if I got everything I bid on I would be in real trouble .

It does not bother me much on getting outbid. Occasionally I'm glad because it's money I don't have to spend and "there will always be another" down the pipeline- and there always is. There have been a few that I lost that I really wanted, but it's not the end of the world. I try not to overbid and get into bidding wars. I put in one or two bids and walk away. I don't have time to watch these things when they close, so I often don't win because I don't snipe. I put my bid in, walk away and if I win, hooray!