STRATEGY FOR BIDDING IN MASTRO AUCTION

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Posted By: Jay Miller

With the Mastro Auction ending this week I was wondering if any of you have any thoughts as to what the best bidding strategy for multi-lot bidders is. As most realize by now, the auction will not close based on the usual 10 minute rule, but rather lots will close individually if, after a preset time, they have no bids for 15 minutes. Therefore, as I figure it, if you are bidding on multiple lots you can only be sure that your lot will not close without you getting in your last bid if you leave up tos. As an example, lets say you were bidding on 10 lots and if any of those lots went without a bid for a 15 minute period after 11:00 it would close. If lot 1 got a bid at 11:03, lot 2 at 11:05, lots 3-8at 11:08, lot 9 at 11:12 and lot 10 at 11:14 now you have lots which could close at different times and it is impossible to watch each to the end to see if someone tops you or not. It becomes a logistical nightmare. Like I say, the only strategy I can figure out is up to bids, but I was wondering if someone had a better idea that he/she was willing to share.

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Posted By: Julie

1) It cannot be stressed enough: EACH ITEM HAS ITS OWN TEN MINUTE RULE, i.e., each item closes individually; the whole auction does NOT close at the same time.

2) For people with enough money to have bids in on more items than can comfortably be looked in on in 10 minutes---LUCKY YOU! (yes, I guess "up to's" are the only way to go.)

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Posted By: Jim Clarke

The Ten minute rule is the best way to do any auction. Hunt does their E-net auction the same way. This will force quick bidding action. Most lots will be done within an hour of the close.

Jay, I take it you are consigning items to this auction? Plus this was a friedly reminder, for bidders not to come in to late.

Just do call backs on the lots you have to have... just like always..It still works the same way..

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Posted By: Julie

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Posted By: Bill Cornell

That would be JC... get with the new program, H-O-T!

Bill

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Posted By: Jay Miller

It was pointed out to me that if you are watching your emails you could see when you are topped and then bid if you like. This would probably allow someone to monitor about 10-20 lots.

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Posted By: Julie

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Posted By: Julie

my own misinformation: All initial bids must be in by 8 CENTRAL time; if you are the ONLY bidder at 8, the item is yours. From 8-10 is "extended bidding"--nothing will close, but no NEW bidders on any individual item will be allowed.. After 10, a 15 MINUTE (not ten) RULE goes into effect, for each individual (or multiple) item.
<br />My son used to say "I'm getting up one at a time;" Mastro will be closing one at a time.
All of which means I will probably get to sleep before 4 instead of before 6.

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Posted By: john/z28jd

my strategy is to first find everything im interested in,then bid my max on what i want the most,wait for that to get outbid on then slowly continue to bid on whatever i like the most out of the other items till i get outbid on everything i wanted.Then i check the vintage board and try to find out who outbid me on what lots and send those people christmas cards

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Posted By: Max Weder

I have a similar strategy, but lately I have been hoping I can actually buy one item, then delay payment for as long as I can in the hopes that the Canadian dollar will continue to rise before I have to pay them. Or something like that.

Max
Vancouver, where it's now 30% more expensive for US tourists to visit this year.

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Posted By: Julie

It's like drawing a line in the sand.

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Posted By: Elliot

Max, and the value of your existing (and paid for) purchases have declined by 30%.

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Posted By: Jay Miller

Julie--I bet the auction is completely over before 11:00 left coast time

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Posted By: Max Weder

Elliot

Much like our attempts to add a Canadian flavour to that verboten topic, I'm sure very few people here will have interest in or sympathy with the declining value of our collection from a Canadian dollar perspective.

However, in accordance with my collecting (and investing) philosophy of buy high--sell low--make it up in volume, I think with continued appreciation in the Canadian dollar, our meager purchases in the past will now be much less meagerous.

Yours at .80 cents

Max

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Posted By: Julie

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Posted By: Julie

...and 2:00 A.M. on the East Coast.

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Posted By: dan mckee

It is 20 mins past 9 and lots I was the high bidder on at nine and still am high bidder haven't closed. Am I reading the rules correctly?

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Posted By: Max Weder

Okay, so it's 8:20 (US official time), there hasn't been a bid on my item (s) since 8:00 and those auctions aren't closed???

Somewhat confused,

Max

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Posted By: Max Weder

I shall await 10:16 Central.

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Posted By: Jay Miller

You guys need to learn how to read. After 10:00 central time if there is no bid for 15 minutes a lot closes. Between 8:00 and 10:00 central time only those who have previously bid on a lot can bid, but no lots close until after 10:00 central time.

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Posted By: Eric Pugh

#3 At 10:00 p.m. central time each individual lot with more than one bid will go into 15-minute extended bidding. The timer will get reset to 15 minutes each time a new bid is placed. All such lots will close individually after 15 minutes without a bid on that specific lot. NOTE: If you are the current high bidder on a lot and you raise your current ceiling or straight bid, this will NOT reset the 15 minute timer.


#4 In response to the many questions regarding how to know when individual lots close under the "15-minute rule," please note that you DO NOT have to go to each lot's page to find out how much bidding time remains.
Starting at 10:00 central time, your "High Bids List", "Outbids List", "All Bids List" and "Watched Lots List" pages will have a column telling you how much time remains before those lots close. (Remaining time does not show up on the gallery view pages).
Please be aware that the time remaining is current when the page loads on your screen and you should always refresh the screen for the latest updated list of remaining bidding times if you let it sit idle.

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Posted By: Max Weder

Point taken. I will go to bid at 6:28 pacific time and hide my head in shame.

Max

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Posted By: Julie

central time. So, wherever you are, count off from there. Right now we're having 2 hours of "extended bidding" for ALL lots. Why couldn't they stick to the old rules? This is
nerve wracking.

AND--the reason you're all confused is that just before 8, central time, the clocks on all the auction pages said "1 minute left" etc. Which wasn't true. I was suckered into bidding on two lots because of that verschlungener clock!

THREE PEOPLE SAID IT. No excuses now!

The pages are moving very slowly; watch it!

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Posted By: Julie Vognar

!

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Posted By: Glen V

After 10 pm Central, I bid on a lot. After that every item on my watch list had 16+ minutes left on it. Thought it was only a 15 min. max only for the item bid on. Anyone else have this trouble?

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Posted By: murcerfan

..I'm watching a lot I have the high bid on after the 15 minute rule kicks in.
......down to 50 seconds..tick..tick.

...no bids but now we go to a 15 min. and 20 second clock.

....Go Bill, Go.


rules are for fools

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Posted By: dan mckee

Sorry Jay, You have told me how stupid I am. But it is 19 after 11 eastern which is the same as 10 central I believe and my lots haven't had bids and are not closed either. Unless I am off an hour. Is Central 1 or 2 hours behind? Dumb Dan

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Posted By: murcerfan

...no hammer till dawn.

uh... Danny, is that Sea Raider lot yours yet?

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Posted By: dan mckee

Dave are you drinking again?? I am jealous! Pass the sauce, sea raider lot is WAY over priced! Someone must want the MAP! This auction SUCKS.

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Posted By: murcerfan

.....I'm never as think as you drunk I am.


hey you edited your post.



this just in:
Due to a small technical glitch at 10 PM, all lots were extended to 10:30 PM. We are sorry for the confusion.

MastroNet

Laugh Out Loud

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Posted By: murcerfan

I am a proud over-paying fool yet again.







edited to appologize for the double post and lack of Yankee smack

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Posted By: Elliot

I tried to get a couple of bids in just before the deadline and the server wouldn't accept them. Was I the only person with this problem?

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Posted By: murcerfan

I noticed that the "initial" bidding time of 10pm seemed to be ahead of my clock by about 3 minutes.

...perhaps that got you, hope not.

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Posted By: Elliot

Nope, that wasn't it, I was watching the clock count down. There was some sort of problem with it not accepting my bid. My thought is that too many people were trying to get bids in at the same time.

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Posted By: Scott Forrest

I usually put a low bid in very early, then a ceiling bid on closing day. Then I walk away to avoid letting my emotions have input. I like the format of the current Mastro auction - I was able to win an inexpensive item that normally would have been part of a much larger lot.

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Posted By: dan mckee

Yes I like the more affordable lots as well, but if you print rules, stick to them. Lots didn't end til 30 mins after 10 Central with no bids.

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Posted By: murcerfan

....that it was indeed glitch, not intentional malice.


...just does not add up to anything else.

then again, I hear they are still playing baseball in Boston this fall, Castro took a header and Kerry leads in a poll somewhere

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Posted By: Julie Vognar

Ben won the Joseph Hall S.L. Cabinet (mouseaten, but not where the players are), and I won the Fan Craze Keeler--for 240.00!!! SGC 60. IS IT REALLY KEELER--looks like I remember his portrait in the T206. I KNOW it lists for almost nothing--but I've been paying YOU GUYS an arm and a leg for other American League Fan Craze--MUCH HARDER THAN AMERICAN LEAGUE! stars--Plank, Lajoie, and Flick. Macrae said about 600.00--now I have all sorts of dough left over for Mark's show.

Ben's mouseaten Hall was--just what he hoped it would be.

Happy ending...

By golly, that IS Keeler!

I got the GLITCH note too. It passed briefly through my mind that they wanted to give us more time to spend more dough, but I think it was a glitch. Just think of ALL THAT MACHINERY changing gears...

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Posted By: Scott Forrest

...why are you paying people an arm and a leg for things? I rarely overpay for anything, and I've got lots of cool stuff.

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Posted By: Brian H (misunderestimated)

I was the second underbidder on the Keeler (I also lost the Brown Fan Craze once it cleared $1K)....
I think the Mayo lot was as close to a bargain as there ever is in a Mastro Auction (I was the underbidder on that one too!)
I did win (by overpaying a bit) the two T202 single lots (Matty & Cy Young).

It was the first time I've won in a Mastro in quite a while ....

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Posted By: Julie Vognar

I saw absolutley no cause to give up so cheap on an American League Fan Craze Keeler. The Brown was really lovely, but I have a lovely Ramly Brown, so I can live without it. I was afraid Jay Miller would be after the Keeler too--but he probably has the E107--IS Keeler in any 19th century issue? Mark Macrae and I couldn't think of any...started in '92!

Scott F, you sell stuff cheaper than most people. Like that N162 Keefe...

I was also tempted to bid during my last minute--on the photos of Davis, 1890 and 95. They were a great deal, I thought, and he's so hard to find earlier than a T206.

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Posted By: Hal Lewis

Sorry Guys...

I won the Fan Craze Brown card.

BUT, since I was upgrading...

I now have an extra one that I will sell for a fair price.

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Posted By: Julie Vognar

The Ramly Brown is the same picture--please excuse poor scan. I'm afraid she (scanner)is broke (can't make a new one at the moment). Anyway, pic is not as large as on Fan Craze--I LOVE Fan Crazes!


New scanner--me, too! a new scanner--hey, that's better! Don't know if I can do it again....

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Posted By: Julie

I seem to be getting the hang of it...