Accidental over-bidding stories

[midmo]

When I was about 16 I was at an estate auction and there was a small binder of silver pesos (which I knew nothing about). I bid something like $6 or $7 and won. I thought cool, that has to be a great deal. Then he quickly added them up. The bid price was for each coin individually, not the complete binder. It totaled well over $100. I quickly learned to know exactly what you're bidding on.

[pete zouras]

It happened to me recently when I put what I thought was a proxy bid (in a major AH) but turned out it was the bid (about $50 higher than the next highest bid). No harm no foul, I like the card and next time I won't make the same mistake.

[Beatles Guy]

Originally Posted by midmo

When I was about 16 I was at an estate auction and there was a small binder of silver pesos (which I knew nothing about). I bid something like $6 or $7 and won. I thought cool, that has to be a great deal. Then he quickly added them up. The bid price was for each coin individually, not the complete binder. It totaled well over $100. I quickly learned to know exactly what you're bidding on.

I've done that before in my early auction years. I've learned to verify with the auctioneer whether it's a group price or by the piece

[Leon]

I have seen some sales where it was hard to tell what you were bidding on. Moral of the story, make sure.
I don't remember over bidding but I am sure I have...My guess is many addicted collectors have over bid...

Originally Posted by Beatles Guy

I've done that before in my early auction years. I've learned to verify with the auctioneer whether it's a group price or by the piece