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#16
09-13-2006, 07:11 AM
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Auction Opening Bids
Posted By: barrysloate
Jay- that was a fair example but what we both did is take extreme cases. What is more relevant is how the more typically encountered lot would do- say an N28 Mike Kelly in PSA-5. And we would have to auction the same lot simultanesously at two different opening bids to find out, something which is of course impossible. It's difficult to even compare auctions- if somebody auctions a card in January and I have an identical one in February, mine may suffer simply because the winning bidder of the first one is no longer participating. There are just so many variables. If I have a card that I hoped would sell for $2000 and it only reaches $1500, the only thing that went wrong is I couldn't find someone to come in at $1650. Would that have changed if my opening bid was $500 instead of $250? How do we know. Actually, I would like to read the study. Is it currently on the newstand? 
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