Quote:
Originally Posted by cfhofer
I know a few collectors who snipe $2000-4000 on every item, even ones which are worth only a few hundred dollars. Why? Because they are playing a game of Russian roulette that you won't be as crazy as them. This ensures they get that piece by paying $10-20 more than you. They can get away with that only because of the hard-ending...
...action on auctions with a soft-ending is much better throughout the listing period. Take a look at the current Leland’s auction. Why the difference?
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1) ...and, they can get away with that too because of very deep pockets and can afford to exceed the market and not worry if they overpay or if auction gets out of control and starts to approach their max. I would only do that if my "Holy Grail" popped up, otherwise my pockets 'aint that deep and my "stones" 'aint that big.
2) ...many people place bids on soft-ending auctions at AHs to get in on the extended bidding. They are still usually not showing their true hand but placing a minimal increment bid that they would happily win the lot at if it were to hold up. It's a minimal place holder bid.