Quote:
Originally Posted by cfhofer
For those stating "Just bid the highest you are willing to pay" - that only works for pieces with an established market value (cards, for example).
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For me, I don't need an established market price to know the highest amount I'm willing to pay for an item. "What I'm willing to pay" does not equal "value." The key part being "willing to pay." The item might be commonly selling for $100 but I decide I'm not paying over $80. Conversely an item might be selling for $100 but I want it badly or need it soon, maybe I'd be willing to spend $120. This also applies to one of a kind items. There have been plenty such items that are not in my collection because someone else was willing to pay more than I was. If I regret anything it's that I don't have more disposable income, not that I didn't place a higher bid.