Can someone explain this?

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Posted By: Steve M.

Lot Number 1743
Current Bid $20,709.00
Opening Bid $2,500.00
Number of Bids 1

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Posted By: leon

Could it be a straight bid? I have played that game before. It usually hasn't worked for me...but did one time, thank goodness !!

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Posted By: Frank Evanov

Looks like the lone bidder placed a "straight" bid of $20,709 as opposed to a max bid. Not sure if he made a mistake or if he is trying to intimidate other bidders.

Frank

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Posted By: George Dreher

Ummm.....he intimidated me right out of the bidding on that lot. Anyone is welcome to bid against me on the N173 cabinets.....I intend to win every one of them.

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Posted By: Fred C

Apparently someone wants to limit the bidding to serious bidders. That's a tough set and the condition is pretty nice on quite a few of the cards.

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Posted By: shane

This is actually great strategy. A straight bid that high eliminates 90% of the bidders for the last day. I would much rather go against 2 different bidders than 21.

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Posted By: Jim Dale

so high no one will do it

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Posted By: Frank Wakefield

a link to this lot?

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Posted By: Jeff Lichtman

Jim is right. Unless the bid was a mistake, it makes sense to place a bid at a level which may be slightly under the value of the lot or right at it, knowing that the next bump up is prohibitive due to the 10% increase. On a lot I really want sometimes I'll bid exactly what I think it is worth, knowing that I've got the bid slot that is the correcet amount. Oftentimes this holds as bidders do not want to overpay for a lot.

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Posted By: leon

If I collected this set this bid would definitely not stop me from bidding. I think it has a ways to go....

http://www.mastronet.com/index.cfm?action=DisplayContent&ContentName=Lot%20Information&LotIndex=70906&LastLotListing=Lot%20Search%20List&CurrentRow=1

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Posted By: Dave

Hey George....you may not win all the N173's....I've got my eye on them also....HEH HEH

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Posted By: Alan

Looks like they've got some competition:

1743
Bidding Start 4/9/2007 - 10:00 AM
Bidding Ends In 17 day(s), 12 hrs 21 mins 31 secs
Number of Bids 2

Current Bid $21,745.00
Next Minimum Bid $22,833.00

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Posted By: john/z28jd

I cant remember offhand what it was but i once placed a straight bid in mastro about 30 seconds into the start of the auction which i thought would eliminate anyone else from bidding on the lot just to watch it. It was my max bid and I figured no one else would bid that high right away and maybe it would sneak thru without another bid. Well as i went to check my email right after i bid i got an outbid notice at that exact moment. About 45 seconds into a 2 week auction i was already done bidding

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Posted By: Mike

Recently on E Bay, there was an item that I had to have. Well, at least I thought I had to have. Wanted is maybe a better word. and my wife approved. There were about 3 or 4 bids already down, all well below a hundred dollars. My guess was that the item would go for about three to four hundred dollars. Max. I was going to be busy that night it ended, so with 4 days to go I put in a snipe bid of $2,000.00, "WAY" over it's value by far, thinking no one would outbid me. I came home the next day, and there were 6 bids, 4 of them below $100.00, mine at 2 grand, and then some body at $2,025.00 or so. I have tryed this tactic before, but never have I been outbid like that, on a rather inexpensive item,. I hope he enjoys his prize. I wish I had it. But not for 2 grand. Sheesh....

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Posted By: ErlandStevens

As a buyer, I understand sniping and think is does have advantages (for the buyer). I don't understand putting in a monstrous, overpriced snipe. There seem to be enough stories of "lead pipe lock" snipes clashing and resulting in someone overpaying by a considerable amount. Maybe this only happens with very rare items that are difficult to properly value. Still, putting in a super-snipe does carry some risk - more risk than the straight bid of this thread. A straight bid seems like a BIN that may not come to pass.

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Posted By: Mike

I was more than ready to step up to the plate and pay the 2 grand. I did not place a bid I wasn't willing to honor. I would never do that. Paying it was not a problem. The reason I threw that story in there I guess was simply to show how much bids can vary, and how much a few are willing to go to obtain something. As you say, especialy on an unbelievably rare and valuable item. My guess is that it was not listed on bay very well, and it had slipped through the cracks so to speak. But I did want it, and my bid was honest. I guess the other guy would have to be the one to determine whether he overpaid or not. I don't beleive he did. In fact if I knew then, what i know now, I would have gone much higher.