Posted By:
Marc S."b) Bidding high early at an auction house is equally as dumb...but the only early bidding you should do at most auction houses is a basic one so that when it's time to close you can bid accordingly."
At some auction houses, like Mastro, where you can straight bid - putting in a high straight bid to start essentially "boxes out" other potential bidders on a lot. By doing that - an interested bidding is significantly reducing the potential competitors in the bidding in after-hours.
This is particularly true in a Mastro-like auction, like the current Collectors' classic, where there are numerous items that will sell for well over $1,000 - but right now any Tom, Dick or Jane can get in on the bidding at $100.
~ms