Mastro Bidding Strategy

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Posted By: Paul

I'm going to be out of the country with questionable internet access when Mastro's auction closes. Do you see any downside to just placing my maximum bid before I leave? I know this is a bad strategy with ebay, but I'm not sure it's so bad with the format Mastro has set up. What do you think? Thanks.

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Posted By: leon

I have won many lots at most auction houses without reaching my final bid. With that being said it's too easy for someone to hit the "bid again" button to get to the one above your top bid. It's sort of human nature to do it sometimes (at least for me) so my opinion is that you have a better chance of getting topped that way...but that's only my opinion. You might find someone to bid for you the last day....(hopefully that you trust )...

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Posted By: barrysloate

I agree with Leon that early ceiling bids just set a target for another bidder to shoot for; on the other hand, if your internet connection fails and you get in no bid at all, that's much worse. Do the best you can under the circumstances.

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Posted By: peter chao

Barry,

I keep on thinking that it's only the investors selling at the REA and Mastro auctions. The well-heeled collector is buying and may be stuck holding the bag. Since I don't consider myself well-heeled, I don't have to worry about it.

Peter

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Posted By: barrysloate

It's hard to categorize who's buying and who's selling, but there is a lot of both. Some investors are cashing out, some are getting in; some oldtimer collectors are selling off, and new collectors are taking their place. It's a very fluid marketplace right now.

[Archive]

Posted By: Jay

Paul--If you internet connection fails you can always call in your bid.