Auction psychology

[raulus]

Originally Posted by Peter_Spaeth

The problem with this philosophy is that others don't live by it, and most of the time you will lose to one of them. And worse still, the giddy price will become the new baseline.

I’ll agree with that, at least when it comes to items that are desired by a large number of collectors, particularly if they ar hard to find, and especially during frothy times in the market, like now.

It’s always going to be a question of how comfortable you are with losing. Some of us don’t like losing, so we tend to throw caution to the wind to avoid that negative outcome, even if it turns out to be a Pyrrhic victory, with the cost of the item making a big dent in our resources.