Quote:
Originally Posted by Snapolit1
Was wondering about the bidding increments last night on Memory Lane. I placed a new leading bid on the Gehrig Exhibits (portrait) early last night. I thought my bid, with the buyer's commission, was a pretty decent price. But the next bid up, think it was over $1000 up, pushed the card into what I would consider overpriced. Not surprisingly my bid sat until 3 am and I ultimately won. Could the underbidder have bid $300 or $500 more, I expected it was possible he would have. Seems to me that the auction houses are leaving money on the table with these increments. Particularly on items under $10,000.
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Or maybe your last bid increment could have been $100 and you win at a lower level. What happened may have given the auction house extra cash, not leaving money on the table.
It works both ways and evens out in the long run.