Why are auctions so popular?

[barrysloate]

Yes, there is the perceived notion, and the hope, that you will steal the item. But how often does one steal, versus how often one overpays?

The standard line about bidding in auctions is they allow a collector to pay only what he thinks a lot is worth. But if you are being shilled, or if you get caught up in the moment and go way past your budget, you aren't paying what YOU want, you are paying what THEY want.

[ullmandds]

Originally Posted by barrysloate

Yes, there is the perceived notion, and the hope, that you will steal the item. But how often does one steal, versus how often one overpays?

The standard line about bidding in auctions is they allow a collector to pay only what he thinks a lot is worth. But if you are being shilled, or if you get caught up in the moment and go way past your budget, you aren't paying what YOU want, you are paying what THEY want.

It IS kind of ODD. It used to be the opposite...in that ebay and other venues were conducive to getting good deals or atleast perceived good deals...and the auction houses with their excessive buyers/sellers premiums were reserved for high buck cards that would sell at a premium.

At some point this paradigm did a 180 degree turn to where we are today!

[Tao_Moko]

Originally Posted by barrysloate

Yes, there is the perceived notion, and the hope, that you will steal the item. But how often does one steal, versus how often one overpays?

The standard line about bidding in auctions is they allow a collector to pay only what he thinks a lot is worth. But if you are being shilled, or if you get caught up in the moment and go way past your budget, you aren't paying what YOU want, you are paying what THEY want.

Barry,

The other side effect is that sellers often use shilled and overpaid prices from auctions to value their card/s. I walk away from cards I have wanted and searched for just because they are in an auction all of the time. T206 Ganley w/ epdg back from Saco is a good current example. I know that patience and dilligemce will find me that card for much less.

Thanks for the topic.

Eric