[Archive]

Posted By: Jeff Lichtman

Jim is right. Unless the bid was a mistake, it makes sense to place a bid at a level which may be slightly under the value of the lot or right at it, knowing that the next bump up is prohibitive due to the 10% increase. On a lot I really want sometimes I'll bid exactly what I think it is worth, knowing that I've got the bid slot that is the correcet amount. Oftentimes this holds as bidders do not want to overpay for a lot.