Auction Reserves - let’s discuss

[Rhotchkiss]

Originally Posted by BobbyStrawberry

Thanks for the response, Scott. I didn't realize that this was such a common strategy. Perhaps I'm unusual in that I don't usually place any bid that I wouldn't be comfortable with as the winning bid.

This is why I usually bid right when an auction opens. I may place over $1mm or bids within the first hour. By the end of the day, I am high bidder on none of them, but I have preserved the chance to go after all of them in extended bidding. If I wait to long and the price is already higher (like a high staring bid) then I may not do a placeholder at that point bc odds I win it are higher and I am not sure I want to own it.