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 Replies: 17 / Views: 2,842 |
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Rest in Peace
United States
9104 Posts |
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Pillar of the Community
United States
2661 Posts |
I read it twice, must be tired today as I did not find the glaring error you speak of.  |
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Valued Member
United States
384 Posts |
Couldn't find anything either, sometimes these things are too obvious for me to notice..  |
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Pillar of the Community
United States
870 Posts |
Are you referring to the fact that Maris published in 1881 and acquired the coin in 1886? It's possible he documented the coin before he owned it...?
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Bedrock of the Community
United States
14454 Posts |
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Rest in Peace
 United States
9104 Posts |
I'll post the answer this evening. Keep looking, it's pretty obvious.
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Pillar of the Community
United States
1064 Posts |
Something to do with the 1795 $5 half eagle is not really a Capped Bust? Read it a half-dozen times, that may have been a mistake!
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Pillar of the Community
United States
2150 Posts |
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Valued Member
United States
223 Posts |
Something related to the Garrett Collection?
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Rest in Peace
United States
9104 Posts |
Quote:
The high bid remained $55,500 until the last six seconds of the auction, when an underbid of $71,000 was surpassed by a bid for $105,655.55, the eventual winning bid.
The bid increment at $100,000 is $100. $71,000 was the proxy bid, with an underbid at $55,400, so $55,500 was needed to be high bidder. In the last six seconds, there were at least two new snipe bids (one could be a new bid by the $71K bidder, getting back in the action), one of $105,555.55-105,655.54, and the other of at least $105,655.55. The most likely scenario would have been sniper A @ 105,555.55, with a later snipe of 105,655.55+, at least $100 higher needed to be new high bid. Another far less likely possibility would be sniper A @ 105,655.54, of which 71,100 was needed to beat the proxy. Sniper B could then have bid exactly 105,655.55, becoming high bidder without needing to go a whole increment. 105,655.55 is not a "nice" number like 105,555.55, so that's why the first set is more likely. The winning snipe could have been 200,000 or a million, but only 105,655.55 was needed to win. |
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Pillar of the Community
United States
3283 Posts |
They need a "that is over my head" in the smile list  |
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Valued Member
United States
270 Posts |
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Rest in Peace
United States
9104 Posts |
Simple version:
If the underbidder was $71,000, a 105,655.55 bid would only show 71,100.00 as the winning bid.
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Valued Member
United States
384 Posts |
Would have been a no brainer, I guess, if I was in the practice of bidding 100K coins on regular basis, rookie mistake  |
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Bedrock of the Community
Australia
21786 Posts |
I have bid in a postal auction series for several years. In this series of auctions, the bidding rules are clearly specified.
A coin might have a reserve price of say $100. If an under bidder bids $105, and I bid $180, I will be nominated as the successful bidder at $110. With these rules, the successful bidder is successful as a result of being the next step above the second highest bidder.
This type of bidding system works well in postal auctions.
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Rest in Peace
United States
9104 Posts |
Remember when USPS tried auctions on the Interweb for a couple years?
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Replies: 17 / Views: 2,842 |
Posted 06/08/2011 7:33 pm
