What Is Your Auction Strategy?

[steve B]

Online bidding is so different from live bidding.

I'm on a budget as well, and most of my buying is from Ebay. There I seldom bid before the last few minutes, or preferably the last few seconds. If I Really want something I'll bid maybe 75% of my max just in case I miss the ending. Or for common stuff I just bid and if I don't win that's fine.

I haven't bid with any of the major auction houses, nearly everything is more than I could reasonably spend.

I do go to a few local auctions, and I prefer live bidding. It's far easier to get a feel for wether the other bidder or bidders are hitting a comfort level they won't pass.

One of the auctions has occasional big surprises. Like a 40's braves warmup jacket. Hung in a corner during preview with the plain red back facing out, put up late, and in really rough shape. Announced as Ernie Lombardis and coming from a family that was friendly with him (Yeah right, but it is huge...)
Luckily it went for very little, I'm not sure where I'd have decided to stop on that.

Steve B