$7000 for this, what am I missing?

[Scott Garner]

Originally Posted by Wymers Auction

Scott as an auctioneer I quite like it when people bid over and over again. It keeps me employed!!

James,

I definately understand from your perspective as an auctioneer, but what you are describing is a live bid auction which has a very different dynamic, IMHO. I have bid in quite a lot of live auctions in my adult life, both as a wine buyer (high-end restaurant industry for 11 years) and as a collector. In this setting, emotions and intellect run amok.

As a bidder in an eBay auction though, this constant bidding strategy only costs you a lot more money. A much sounder strategy is to pick a top bid amount and place a bid at the very end.

This accomplishes at least 3 important personal goals:

1) It somewhat disciplines you from doing something stupid, but gives you the opportunity to bid within your comfort zone and removes some of the last minute desperation

2) It allows you to possibly win the item at a lower acquisition price that your ceiling bid

3) If you lose the auction, you walk away knowing that you gave it your best shot. For me personally, this leaves me with less remorse. In my mind, I justify that it was just not meant to be and to turn the page.

As on expert in live auctions, what is your take on what I just said?

Thanks!

[DinoPro]

$7100

[mjkm90]

I cannot value this piece at 1/7th the hammer price. I love general memorabilia as much as the next collector, but this makes zero sense.