Goodwin Pick-ups

[Kenny Cole]

That made my head hurt. If the other bidder has gone to bed, how is he going to see that he has been outbid so that he can then post another bid and bid you higher (which, unless he is a shiller, does him no good) so that you bid again? I'm not getting that part of the strategy.

[joeadcock]

Nice CDV

[bcbgcbrcb]

Lee:

I am aware of the final price on the Delahanty with the BP, same thing as what I said without the juice added in.

[glchen]

Originally Posted by Kenny Cole

That made my head hurt. If the other bidder has gone to bed, how is he going to see that he has been outbid so that he can then post another bid and bid you higher (which, unless he is a shiller, does him no good) so that you bid again? I'm not getting that part of the strategy.

Right, the other bidder will only see that he has been outbid if you put in your max bid than just an increment up. For example, if you have an internal max bid of $500 for a lot, and you bid the card to $350, the other bidder bids it to $400 and now is the high bid. Now, he goes to bed without knowing that he will be outbid by you later at $450. However, if you put in a max bid of $500, then when the other bidder bids the card to $400, he will see that he has instantly been outbid at $400. He can then decide to bid it to $450. Again, he has instantly been outbid. He can again reconsider if he's at his max for this lot, and so forth.

The other reason that people most typically don't put in their max bids for lots is that they are often bidding on multiple lots, but have a budget. If they put in their max bids on all of their lots, it will be over their budget if they happen to win all of them. Therefore, they are internally prioritizing which lots they want first, and if those lots go over their max bid for that lot, then they can move their lower priority lots to higher bids.

[Kenny Cole]

But if I understand things correctly, he's asleep. Did he wake up sometime during this tortured experience? If not, he loses just like everyone else who went to sleep and didn't hit the high bid as a result.

I've had some cocktails this evening, so I may be missing it, but as best as I can tell, if you are asleep it's real hard to bid. If you aren't there to bid, there is a reasonable possibility that you might lose.

[Leon]

Originally Posted by Kenny Cole

But if I understand things correctly, he's asleep. Did he wake up sometime during this tortured experience? If not, he loses just like everyone else who went to sleep and didn't hit the high bid as a result.

I've had some cocktails this evening, so I may be missing it, but as best as I can tell, if you are asleep it's real hard to bid. If you aren't there to bid, there is a reasonable possibility that you might lose.

I think he is saying that if xx DOESN'T put in a max bid......then yy outbids xx, is now high bidder as there is no max bid from xx, then yy is lulled into a false sense of winning, goes to bed being the high bidder and dreams sweet dreams of that great card he is going to win in the auction.....then KAPOW......xx bids, is high bidder.... yy is asleep and xx wins the card. ....or something like that....

[Haybag]

I picked up the T206 mathewson dark cap PSa 4 with Tolstoi back, thought it was a good deal for a fairly rare card.

[HANKCADDY]

collecting seems to be becoming more like algebra every day

[glchen]

Yep, that's it. And the next day, yy writes on the board how annoyed they are with auctions that go on forever, and how they prefer ones that end lot by lot at a reasonable hour. And btw, Goodwin did go forever. I think I went to bed that night at 3am PST, and the auction was still going on, so I wasn't sure that the one lot that I was bidding on would hold it. Luckily it did, so I picked up the W516-1-2 Ruth strip card.

[Runscott]

Originally Posted by Leon

I think he is saying that if xx DOESN'T put in a max bid......then yy outbids xx, is now high bidder as there is no max bid from xx, then yy is lulled into a false sense of winning, goes to bed being the high bidder and dreams sweet dreams of that great card he is going to win in the auction.....then KAPOW......xx bids, is high bidder.... yy is asleep and xx wins the card. ....or something like that....

Leon, how about next time I just call you at 9:59 to discuss strategy, and you can help out with the bidding until all the lots close. You are a friend, right !?! I'll be staying at the Holiday Inn Express, pretending to be an important lawyer.

I put in four ceiling bids Thursday before the auction ended. Won all of them at less than my ceiling bids. Friday I did the same thing for three lots, with the same results. The fourth was not high enough, so I put in another bid during the extended bidding, still not high enough, put another one in and won. It was a fairly simple strategy, but I guess the auction house shillers weren't paying attention.

Scott <=== not paranoid enough to fully appreciate proper bidding strategy

[calvindog]

Scott, I know it doesn't help your self-described status as an anti-establishment provocateur to admit that fraud occurs in the hobby but it does. That you believe you were not defrauded on four bids hardly suggests that the entire baseball card auction business is clean. You don't need to be an important lawyer to understand such a basic concept. You haven't seen the bidding records of the lots you won or any of the thousands others which have occurred in the past few years. Paranoia has nothing to do with this; greed does. Ask Doug Allen or Josh Evans if they think bidders are run up by auction houses.

[Runscott]

Originally Posted by calvindog

Scott, I know it doesn't help your self-described status as an anti-establishment provocateur to admit that fraud occurs in the hobby but it does. That you believe you were not defrauded on four bids hardly suggests that the entire baseball card auction business is clean. You don't need to be an important lawyer to understand such a basic concept. You haven't seen the bidding records of the lots you won or any of the thousands others which have occurred in the past few years. Paranoia has nothing to do with this; greed does. Ask Doug Allen or Josh Evans if they think bidders are run up by auction houses.

Calvin, there's no need to patronize me, or make me the subject of your witty enjoinders. I don't know you from Adam, and your responses in this thread certainly haven't impressed me, either with your intelligence, knowledge or your status in the hobby.

Have a good day.