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#1
04-03-2010, 01:56 PM
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Quote:
For sure - and I'm not purporting to have any kind of study to support my idea. It is just something I feel intuitively (ie. that I'd rather enter an auction against 7 qualified bidders than against 15). But I definitely see your points...the number of bidders is not as important as: who they are, what finances they have, and what their goals/motivations are in the auction. Ultimately, I'm aware that two bidders makes an auction, and two motivated bidders can create a record price. But somehow I still feel better with 2 bidders than with 15. Cheers, Blair
__________________
My Collection (in progress) at: http://www.collectorfocus.com/collection/BosoxBlair 
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#2
04-03-2010, 02:06 PM
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Blair- I'm sure you've experienced this too, but I can't tell you how many times I've been the underbidder on a lot and said to myself, If it just wasn't for that one guy, I could have won that lot at such a good price. And that's the one bidder I'm suggesting you haven't knocked out. Obviously, whether you finish second or fifth, the end result is the same. Maybe we should do a study of bidding patterns and behavior.
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#3
04-03-2010, 02:09 PM
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Quote:
Hi Barry, I might be a strange guy (...well, I am  ) but I would really find that interesting.All the best, Blair
__________________
My Collection (in progress) at: http://www.collectorfocus.com/collection/BosoxBlair
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#4
04-03-2010, 02:11 PM
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I can tell you from my years of doing auctions that watching people's bidding behavior is fascinating indeed! There are many eccentric personalities out there.
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#6
04-03-2010, 02:34 PM
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No harm in sharing my bidding strategy. I look at all the lots I want, figure a final price I'm good with, subtract 17.5% BP, then subtract 20% more and then bid that price on all the lots I want...so around 70% of what I'm ok with the final price being. Then I wait and once I'm outbid on most of them, on the last day I narrow down my lots by a half and rebid on the ones I'm willing to go the extra mile with and then go to sleep that night -- the night that it closes. I never want to really OVERPAY so I often miss out on most lots. But at times my system REALLY works. The Plank I won was my 70% bid, and it never got outbid again. Other times, I end up missing out on lots with prices that in retrospect seem like incredible deals.
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#7
04-03-2010, 03:06 PM
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My strategy: I buy whatever I want at whatever I feel like paying for it and then I go back to work the next day and make more money.
__________________
http://www.flickr.com/photos/calvindog/sets
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