Quote:
Originally Posted by Aquarian Sports Cards
People put placeholders in on many more items than they will be able to afford if they won them all. It gives one flexibility at the end of the auction. If one lot goes past what they want to pay, they can go after something else they had a placeholder on. Back when I was an auction buyer I'd put placeholder bids in on 100 or more lots fairly frequently. High starting bids would certainly scare a lot of people away from this very common practice.
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Thanks for the response, Scott. I didn't realize that this was such a common strategy. Perhaps I'm unusual in that I don't usually place any bid that I wouldn't be comfortable with as the winning bid.
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