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 Replies: 8 / Views: 1,687 |
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Valued Member
United States
112 Posts |
I made it to my first auction the other day. it was an auction with a number of coins included. I showed up early and used my grey sheets to price the coins I was interested in and waited until the bidding. Nothing spectacular was auctioned but I did pick up (win) a real nice 1922 Peace dollar for $10.00. My question is what are you guys willing to pay for nice coins but fairly common ones? this old lady next to me kept jacking the price up and she won a number of morgans/other silver dollars for almost $15.00 over the grey sheet price. Do auctions have people do this on purpose or do you think people just really don't know the worth of coins? It was still fun, I enjoyed bidding and came close a couple of times but I stuck close to the price guide. |
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Moderator
 United States
23522 Posts |
quote:
people just really don't know the worth of coins
Dingdingdingdingding! Just stick to your chosen method, and you'll do well. You won't end up buying much, but you will have no regrets regarding what you did. Just remember, there's always another similar coin, and a better bargain, around the corner. |
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Rest in Peace
United States
2884 Posts |
Very good advice Dave. It is easy to get caught up in a bidding war. I have found that every time I was upset that I lost a coin, another turned up a bit down the road. Mike  |
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Valued Member
United States
264 Posts |
You already had the answer. First a good number of people don't know the value of the coin, or over-grade it and pay more than they should. Second, when a good bidding war gets going the adrenalin gets pumping and you just don't stop....even when you should. I see this every year at our local ECHL hockey auction for Charity. Now granted it is for charity so the more people spend the better, but I've seen people huddle and make side deals to pool their money to up the bid.
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Valued Member
United States
107 Posts |
This would be a good place to sell your coins...
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Bedrock of the Community
United States
20753 Posts |
Live auctions are sometimes rigged. I mean if you watch carefully, you may notice one or two individuals constantly bidding on items but seldom buying anything. They are there to boost the bidding and usyally work for the organization doing the auction. Best be carefull when going to any live auction.
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Pillar of the Community
United States
1151 Posts |
Bidding at a live auction is no different than bidding on an internet auction, set your high bid and stick to it. You will lose some, but then again you will win some.
good Luck.
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Valued Member
 United States
112 Posts |
It is easy to get caught up in the bidding. especially when the auctioneer stares directly at you as if he expects you to automatically up your bid...or when he makes a comment to you about how cheap this coin is etc....
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Valued Member
United States
102 Posts |
Establish your price and do not exceed it. I bid on several hundred coins a week and maybe buy 2 or 3. Mike is right. A similar coin will come available in the future. (except those that are probably out of our price range).
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Replies: 8 / Views: 1,687 |
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Posted 07/02/2007 04:51 am
