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Auction Idiocy

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denco7's Avatar
United States
2543 Posts
 Posted 11/29/2014  1:58 pm Show Profile   Bookmark this topic Add denco7 to your friends list Get a Link to this Message Number of Subscribers
Sitting here watching an online coin auction, while I watch my Clemson Tigers roll on South Carolina.

Just watched two idiots bid a 1993 MS69 Kookaburra up to $80, and this is after watching a 1995 MS69 Kook bid up to $85 and that is not even including the 18% BP.

Also saw a raw 2014 ASE go for $25, $29.50 with BP

Auction idiocy
Edited by denco7
11/29/2014 1:59 pm
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scottk's Avatar
United States
767 Posts
 Posted 11/29/2014  2:02 pm  Show Profile   Bookmark this reply Add scottk to your friends list Get a Link to this Reply
I watch all the time as auctions get bid higher and higher while the exact same item is listed right underneath as "buy it now" for less.
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westernsky's Avatar
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 Posted 11/29/2014  2:10 pm  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Hence the term - "bidiots" was created.
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Bryan78's Avatar
United States
1068 Posts
 Posted 11/29/2014  2:33 pm  Show Profile   Bookmark this reply Add Bryan78 to your friends list Get a Link to this Reply
Go to propertyroom.com and watch people with more money then they do sense...

Here is one group of bidiots who are having a bidding war for a 1961 silver proof set... The value for this is around $44...

http://www.propertyroom.com/l/1961-...5000/9900942

The auction ended at $414...


How can these people have money... How are they smart enough to make that kind of money yet so dumb to pay ungodly amount for something that is worth only fraction of the price?
Edited by Bryan78
11/29/2014 2:39 pm
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Tim Stroud's Avatar
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2661 Posts
 Posted 11/29/2014  4:10 pm  Show Profile   Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply

Quote:
How can these people have money... How are they smart enough to make that kind of money yet so dumb to pay ungodly amount for something that is worth only fraction of the price?


It defies logic and can not be explained by any know scientific means. I watch a tattered old $20 green seal get bid up to $60 and I wind up being high bidder at $37.50 on a VF 1861 Bank of Washington $10 note worth around $350. Owner had a reserve of $500 on the note, so it just ain't the bidders.
Edited by Tim Stroud
11/29/2014 4:11 pm
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denco7's Avatar
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 Posted 11/29/2014  4:16 pm  Show Profile   Bookmark this reply Add denco7 to your friends list Get a Link to this Reply
Just watched a raw 1996 ASE go for $85 dollars, because of course if you win it, only you and 3.7 million other people will possess this rare coin.
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westernsky's Avatar
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 Posted 11/30/2014  08:49 am  Show Profile   Bookmark this reply Add westernsky to your friends list Get a Link to this Reply
Things also get "ran up" when you have someone bidding for the house (or owner) as a shill.
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jbuck's Avatar
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 Posted 12/01/2014  12:05 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Sitting here watching an online coin auction, while I watch my Clemson Tigers roll on South Carolina.
Don't you mean our Clemson Tigers, Mr. Hand?

35-17

66-42-4

It is a good day in the Palmetto State.


You may now resume the numismatic discussion
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52Raymo's Avatar
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 Posted 12/01/2014  12:14 pm  Show Profile   Check 52Raymo's eBay Listings Bookmark this reply Add 52Raymo to your friends list Get a Link to this Reply
I think it's all about winning. (no, not talkin bout Clempsun)
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jbuck's Avatar
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 Posted 12/01/2014  2:28 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
no, not talkin bout Clempsun
At least you did not say ClemZon, like they always do on EZPN.
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Bryan78's Avatar
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 Posted 12/15/2014  11:49 am  Show Profile   Bookmark this reply Add Bryan78 to your friends list Get a Link to this Reply
Idiocy strikes again.... Holy cow! Wished I had a bunch of these to sell to this bidiot...

http://www.propertyroom.com/l/brand...nce-/9931956

Edited by Bryan78
12/15/2014 11:54 am
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 Posted 12/15/2014  3:54 pm  Show Profile   Bookmark this reply Add Tryna to your friends list Get a Link to this Reply

Quote:
I think it's all about winning


Here is the first problem.

How many times have you seen someone write or heard them say "I won this on ebay"?

Oh you have said it yourself?

Well shame on you! You did not win the item. You won the bid. There is a difference and your bank account knows it.

As one who made part of my living buying and selling at live auctions (not coins), I have watched people loose their mind durring bidding just to 'win' the item. They will bid stupid amounts just to get the item they want or worse just to keep someone else from getting it.

As an example I watched two people duke it out over a Cal
Ripkin Jr signed baseball that at the time was worth $20 to $40 until that ball sold for $460 odd.

People go nuts at auctions and now that on line has come close to replacing live auctions it is getting worse in some ways. People sit home with a beer in one hand and the mouse in the other. Do I need to say more?

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Earle42's Avatar
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10034 Posts
 Posted 12/20/2014  12:19 am  Show Profile   Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
Actually there is a logical explanation...
I used to sell a lot of glass insualtors on ebay. One time a friend of mine had a bidding war over one of his 20.00 items. The insulator sold for over $400.00. On the insulator forum this same question came up... WHY?

So I emailed and asked (also back in the day ebay allowed all email addresses to be see/contacted). It turned out the winner was a widow who said she had more money than she could ever use. Since she did not get out much, her "hobby" was bidding on ebay auctions for anything that caught her eye. She did not care what it went for, she simply loved the thrill of "Am I going to be able to get it?"

She was no looney. She just had this as her hobby and also liked the fact others benefited from it.
Though likely not the norm, at least hers was a reasonable explanation and was not from ignorance.
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vermontensium's Avatar
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 Posted 12/20/2014  12:36 am  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list Get a Link to this Reply
I think she would like my ebay items :o
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jpsned's Avatar
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 Posted 12/20/2014  09:31 am  Show Profile   Bookmark this reply Add jpsned to your friends list Get a Link to this Reply
"Idiot" and "bidiot" are not very nice things to call someone. Just because people get carried away in their enthusiasm doesn't mean they have diminished mental capacities.

This ability to mock people anonymously on the Internet is so pervasive, and I think it's an ugly thing. The problem is that it's too easy to do when you don't have to be accountable for your words. If you met these people in person, you certainly wouldn't call them idiots to their faces.

We all get carried away emotionally from time to time. You wouldn't like it if someone called you an idiot. Nobody is an idiot. Keeping things civil is a good idea.
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allranger's Avatar
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 Posted 12/20/2014  11:45 am  Show Profile   Bookmark this reply Add allranger to your friends list Get a Link to this Reply
jpsned: The term refers to a persons behavior. Strictly speaking, if someone allows their enthusiasm to cloud their judgement and then they act in a manner not in their best interest, well then that is the very definition of the word.


Quote:
"An idiot, dolt, or dullard is an intellectually disabled person, or someone who acts in a self-defeating or significantly counterproductive way. Archaically the word mome has also been used. The similar terms moron, imbecile, and cretin have all gained specialized meanings in modern times. An idiot is said to be idiotic, and to suffer from idiocy."




Quote:
"The word gentleman originally meant something recognisable; one who had a coat of arms and some landed property. When you called someone "a gentleman" you were not paying him a compliment, but merely stating a fact. If you said he was not "a gentleman" you were not insulting him, but giving information. There was no contradiction in saying that John was a liar and a gentleman; any more than there now is in saying that James is a fool and an M.A. But then there came people who said - so rightly, charitably, spiritually, sensitively, so anything but usefully - "Ah but surely the important thing about a gentleman is not the coat of arms and the land, but the behaviour? Surely he is the true gentleman who behaves as a gentleman should? Surely in that sense Edward is far more truly a gentleman than John?" They meant well. To be honourable and courteous and brave is of course a far better thing than to have a coat of arms. But it is not the same thing. Worse still, it is not a thing everyone will agree about. To call a man "a gentleman" in this new, refined sense, becomes, in fact, not a way of giving information about him, but a way of praising him: to deny that he is "a gentleman" becomes simply a way of insulting him. When a word ceases to be a term of description and becomes merely a term of praise, it no longer tells you facts about the object: it only tells you about the speaker's attitude to that object. (A 'nice' meal only means a meal the speaker likes.) A gentleman, once it has been spiritualised and refined out of its old coarse, objective sense, means hardly more than a man whom the speaker likes. As a result, gentleman is now a useless word. We had lots of terms of approval already, so it was not needed for that use; on the other hand if anyone (say, in a historical work) wants to use it in its old sense, he cannot do so without explanations. It has been spoiled for that purpose."
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