2nd Place Winner, 1st Place Loser, In Auctions

Johnny630 · #1 01-23-2023, 10:12 AM

No not a smart idea for me. I like to stay focused, it’s not useful for me to spend on cards I do not want because I feel the need I have to win something. I'll keep the bat on my shoulders waiting for the right pitch at the right price.

raulus · #2 01-23-2023, 10:26 AM

It's bound to happen, even to the best of us. At least it happens when we get emotionally attached to the items we're bidding on.

Although it didn't happen to me last night (mostly because there wasn't really anything that I was all that emotionally attached to), I've definitely been there and done that.

Casey2296 · #3 01-23-2023, 10:29 AM

Like looking at your credit card statement the morning after going to a strip club, thinking "Gee, I'd kinda like to have that money back".

Snapolit1 · #4 01-23-2023, 11:03 AM

Quote:

Originally Posted by Casey2296

Like looking at your credit card statement the morning after going to a strip club, thinking "Gee, I'd kinda like to have that money back".

I've done a lot of foolish things in my life, but never once pulled out plastic in a strip club.

Rhotchkiss · #5 01-23-2023, 11:51 AM

Been there, done that (too many times!).

Back in early 2017, Heritage had an auction with a number of great T206 HOF front-back combos, including a Tinker bat on Lenox, a Matty dark cap Carolina Bright, a Wajo portrait Hindu, a Lajoie portrait Hindu, and a Speaker Drum. It was the Speaker Drum that I really wanted. The final night of the auction comes and right before we enter the 30-minute per lot extended bidding, I bid on all of these cards, thinking I would bid outbid on most and I could see how it goes.

Immediately, I am outbid on all of them. So I focus on the Speaker Drum. In a matter of minutes, my foe and I bid the Speaker up to well over double where it was before extended bidding started. So, finally, at $26.5k, which was nuts at that time, I walk away and focus on the Matty. Same result. So then I focus on the Tinker, same result. Same thing with the Wajo. At this point I have been outbid on all the cards I wanted, and I am pissed, so I decided to buy the Lajoie Hindu come hell or high water. I won it, for $6,000, probably 3x what it worth at the time.

Epilogue:
(A) I later found out who I was bidding against. At one point he reached out to me and offered me the Speaker Drum for something like $80k. I countered at like $40k, and he seemed insulted. Later, I bought a Speaker Drum at auction for $31.2k. Then, a few months after, that the original Speaker Drum sold at auction for $24,600 (to Luke L). So this dude lost $2k on the card, when he could have made $14k accepting my way-above market offer., and I got a Speaker Drum for $9k less than I offered, but for $7k more than Luke paid for the original Drum I wanted (and his is as nice as mine).

(B) I consigned the Lajoie Hindu to REA and it was in their Fall/Winter auction that ended in December (last month). It sold for $6,900 with BP and I profited whopping $180 after holding it for 5 years.

Morals of the story: (1) Pigs get fat, hogs get slaughtered, and (2) if you buy good stuff and hold it long enough, you can almost always recoup most, if not all, of a clear overpayment.

MuncieNolePAZ · #6 01-23-2023, 02:30 PM

Quote:

Originally Posted by Rhotchkiss

Epilogue:
(A) I later found out who I was bidding against. At one point he reached out to me and offered me the Speaker Drum for something like $80k. I countered at like $40k, and he seemed insulted. Later, I bought a Speaker Drum at auction for $31.2k. Then, a few months after, that the original Speaker Drum sold at auction for $24,600 (to Luke L). So this dude lost $2k on the card, when he could have made $14k accepting my way-above market offer., and I got a Speaker Drum for $9k less than I offered, but for $7k more than Luke paid for the original Drum I wanted (and his is as nice as mine).

I remember you winning the Speaker in the later auction. I was considering doing a Speaker back run at the time. Had 3 or 4 at the time, but knew if I was serious about it, I needed to get the Drum. It turned out I wasn't very serious because I wasn't even close on the bidding. I later traded all my Speakers and picked up a WaJo or two for my main collection.

Chad

ALBB · #7 01-23-2023, 02:37 PM

Yes, silly bidding. Almost like " revenge " bid ..revenge against who ? Ha Ha

But you want to prove an point and show somebody " who they think there messing with " !..and the reward is a card you didn't really want !

Rhotchkiss · #8 01-23-2023, 03:51 PM

Quote:

Originally Posted by ALBB

Yes, silly bidding. Almost like " revenge " bid ..revenge against who ? Ha Ha

But you want to prove an point and show somebody " who they think there messing with " !..and the reward is a card you didn't really want !

100% correct!

The only winners in revenge bidding are the consignor and the auction house. Boy have I made both winners one too many times.

Chad, I am working on a speaker back run, actually. I needed the Carolina Brights that sold recently and I bid that sucker up to well over $30k before I walked (having at least learned that winning at all costs is not winning). I think that is all I need, besides the T213-2 (I have the T214 and T213-3 Fact 8); is there a T215-2 or pirate? Here is the Drum I won.

Yoda · #9 01-23-2023, 11:56 AM

Lost out on most but trill managed to snag the T296 Kelly and autographed Marquard. Seems like any T206 with a rare back did well.

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