Posted By:
Vincent
I recall participating in a Jack Smalling autograph auction afew years ago. Jack uses a written ceiling bid methodology with his auction (ie. highest bidder, x% over the second highest ceiling bid).
I lost out on a $75-$100 item, inwhich I placed a full market bid of $101.99 (I wanted the item). Evidently, there were other deep pocketed bidders who had the same idea too. The item sold for over $2000. I've always wondered if Jack ever collected in full?
Did I overlook the rarity of this item ??? I don't think so. Just a couple of crazy kids who placed crazy ceiling bids with the intentions of winning at any cost, and who tangled with another of their own kind. I, believe, on this board, those folks are sometimes referred to as "whales".
I wasn't happy losing out on the item, but it was worth a chuckle.