Auction psychology

[raulus]

Originally Posted by G1911

Sometimes I am amazed that some idiot is willing to pay so much for an obscure old cardboard picture that they outbid my stupid bid. Then I have to do some soul searching.

Who are those idiots!!!??

I vote we kick them off the island.

[G1911]

Originally Posted by raulus

Who are those idiots!!!??

I vote we kick them off the island.

Finally, someone else gets just how wrong it is for other people to have the audacity to outbid me! Crimes against humanity are real.

[raulus]

Originally Posted by G1911

Finally, someone else gets just how wrong it is for other people to have the audacity to outbid me! Crimes against humanity are real.

If I’m the one doing the selling, then crimes against humanity are encouraged.

[G1911]

Originally Posted by raulus

If I’m the one doing the selling, then crimes against humanity are encouraged.

I believe it usually works that:

When you are buying, every stupid bidder is involved and escalates the price beyond all reason.

When you are selling, all of these bidders are distracted by some other shiny bauble and you suffer a crime against humanity yourself.

[parkplace33]

I truly believe that for many AH bidders (especially in the last two years and on big ticket items), they have more money than God and don't care what items cost.

[JimC]

There are no set rules in this game. If you applied a strict, disciplined approach to what you would pay for quality Ruths and high end Mantle cards in 2017 the satisfaction you would have gotten from not "overpaying" would not have lasted long as you watched prices skyrocket from those levels.

You also have to decide what you want more, a good deal or the item. Prices for rare items are tough to predict because you never know when two buyers will decide they don't want to wait ten years for another shot. Personally I have more regrets over the items I didn't buy because I thought the price was too high than over the ones where I overpaid. Example: every Jim Thorpe I didn't buy.

[raulus]

Originally Posted by JimC

There are no set rules in this game. If you applied a strict, disciplined approach to what you would pay for quality Ruths and high end Mantle cards in 2017 the satisfaction you would have gotten from not "overpaying" would not have lasted long as you watched prices skyrocket from those levels.

You also have to decide what you want more, a good deal or the item. Prices for rare items are tough to predict because you never know when two buyers will decide they don't want to wait ten years for another shot. Personally I have more regrets over the items I didn't buy because I thought the price was too high than over the ones where I overpaid. Example: every Jim Thorpe I didn't buy.

It has certainly been the case historically that I've regretted missing out on stuff. However, over the last 24 months, I've regretted losing a lot less, even though I'm losing a lot more. Maybe I'm just numb to it, but more likely, the prices are just so high that losing seems like winning sometimes, particularly if I am willing to wait for another one to come back onto the market.

Just for fun, here's a couple of somewhat recent examples where I was the underbidder, and I'm not really regretting it:

https://bid.robertedwardauctions.com...?itemid=103985

https://bid.robertedwardauctions.com...?itemid=103692

[BobC]

Originally Posted by raulus

It has certainly been the case historically that I've regretted missing out on stuff. However, over the last 24 months, I've regretted losing a lot less, even though I'm losing a lot more. Maybe I'm just numb to it, but more likely, the prices are just so high that losing seems like winning sometimes, particularly if I am willing to wait for another one to come back onto the market.

Just for fun, here's a couple of somewhat recent examples where I was the underbidder, and I'm not really regretting it:

https://bid.robertedwardauctions.com...?itemid=103985

https://bid.robertedwardauctions.com...?itemid=103692

What is even more surprising to me were the final hammer prices. Both PSA 9s, but the older '54 Topps Mays card going for exactly 30% less than a '62 Topps Mays?!?!? They are both not always found well centered, but if anything, I would have expected those prices to more likely be the other way around. Possibly a case of two determined collectors fighting for registry improvement or superiority in regard to the '62 Mays?

The PSA pop reports show a total of 16 '54 Mays cards graded as 9s, with three of them having qualifiers, but none graded higher. Meanwhile, the pop report shows a total of 9 '62 Mays cards graded as 9s, with none having any qualifiers, but in this case there is 1 single higher graded '62 Mays card graded 10. Though there are actually fewer '62 Topps Mays cards graded 9, or higher, I can't see enough of a difference in the numbers to justify and explain the big difference in those final auction prices being based on these pop reports alone.