FOOLproof Way To Get Coins Cheaper At Auction
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You know this is something I always worry about with bidding. There are times in my life where I've been tempted to bid something silly on a coin - something far higher than I think it should go for - just to make sure I win. The problem is - and the reason I've never actually done this - is that if someone wanted it more than me or someone else decided to try this "bright" idea it could turn into a disaster.

Yeah. I've had some irritating days when I lost something to a sniper bidder by 46 cents and seen the note pop up in my competition's set 2 weeks later, but I prefer that to overpaying and buyers remorse.

Sounds like some insufficiently_thoughtful_person bid the rent money on a coin and was having a panic attack. lol

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This is ingenious. Why didn’t I think about that before. Win the bid then negotiate it was too high. 
 

@MarkFelddo you think Heritage would let me go back and retroactively say some of the coins I have won in recent auctions were simply too high because others bid too much?? 😂

I give this guy credit he has some stones. I would have thought it was a joke. 

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Sounds like a great idea. I won an auction at GC I haven't paid yet. Might try to negotiate a better price. :roflmao:I had it won from the beginning. If that last bidder wouldn't have bidded such a high price in the last 3 seconds I'd been good. Lol  There sure are some crazy people out there in this old world. 

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My strategy is to first move a ridiculously low minimum up to melt -- and bide my time.  My greatest successes when I bought raw was to find auctions that ended at odd early morning hours when few bidders would be up and around, wait until the sand was about to run out of the clock and spring into action.

The worst crimes I ever  committed was contacting the seller directly (due to impatience) and making him (usually a novice) an offer he couldn't refuse:  "if you can see your way clear to release the item for X, I will buy it immediately."  This approach backfired with Liberty Coins in CA. which wrote me a sickeningly sweet but professional text stating "we belive the sale price reflects its Fair Market Value."  (I don't like odd numbers but it was an integral part of their religion so I relented.)

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3 hours ago, Quintus Arrius said:

My greatest successes when I bought raw was to find auctions that ended at odd early morning hours when few bidders would be up and around, wait until the sand was about to run out of the clock and spring into action.

That works, of course I don't want to have to sit around to those odd early hours just so I can "spring into action".  So I set a snipe bid in a sniping program and let it spring into action for me while I sleep or go do something else.  (Of course this only works on ebay auctions)

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3 hours ago, Conder101 said:

That works, of course I don't want to have to sit around to those odd early hours just so I can "spring into action".  So I set a snipe bid in a sniping program and let it spring into action for me while I sleep or go do something else.  (Of course this only works on ebay auctions)

I've done this as well and won a few  coins I really wanted badly. I lost a couple of them. But I've won more than I've lost. 

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3 hours ago, Conder101 said:

That works, of course I don't want to have to sit around to those odd early hours just so I can "spring into action".  So I set a snipe bid in a sniping program and let it spring into action for me while I sleep or go do something else.  (Of course this only works on ebay auctions)

I just pop in my bid before going to bed and see the results in the morning. No sniping program. I find I still often win. (shrug)

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None of these unethical behaviors would EVER have occurred to this native Pennsylvanian. Auction ethics is a key part of my state's culture. We are DEADLY SERIOUS about ethical auction behavior. People go to prison for breaking our highly detailed auction laws. Tens of thousands of private homes are sold via public auction (with no realtor involvement whatsoever) in the Keystone State every year. It's why major coin auction firms are not in Pennsylvania and even Legend's Laura Sperber disbanded her partnership with a PA firm. Bidding up your own stuff, aka shill bidding (as S-B and Heritage often do) is a criminal act in Pennsylvania. Maybe that's why most of my ANA show auction winning bids were in Philly in 2012 and 2018. Pittsburgh 2023, here I come!

But then, here I am in Alabama, and I can't even find ONE decent auction of coins.

Edited by VKurtB
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6 minutes ago, VKurtB said:

None of these unethical behaviors would EVER have occurred to this native Pennsylvanian. Auction ethics is a key part of my state's culture. We are DEADLY SERIOUS about ethical auction behavior. People go to prison for breaking our highly detailed auction laws. Tens of thousands of private homes are sold via public auction (with no realtor involvement whatsoever) in the Keystone State every year. It's why major coin auction firms are not in Pennsylvania and even Legend's Laura Sperber disbanded her partnership with a PA firm. Bidding up your own stuff, aka shill bidding (as S-B and Heritage often do) is a criminal act in Pennsylvania. Maybe that's why most of my ANA show auction winning bids were in Philly in 2012 and 2018. Pittsburgh 2023, here I come!

But then, here I am in Alabama, and I can't even find ONE decent auction of coins.

If you find one anywhere around here let me know. I was never into numismatics when I lived here, and now that I am back I quickly realized there isn’t much going on in this area of the country. 

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I myself have not bid on any coins yet I have looked at GC and Heritage I was wondering ? I have seen extra charges? Is there a percentage you have to pay after winning a bid added on to the price you won it for? Thought I would ask seeing there sounds like many here that have used the auction system.9_9   

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15 hours ago, Conder101 said:

That works, of course I don't want to have to sit around to those odd early hours just so I can "spring into action".  So I set a snipe bid in a sniping program and let it spring into action for me while I sleep or go do something else.  (Of course this only works on ebay auctions)

Mighty Conder, you never cease to amaze me!

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2 hours ago, J P Mashoke said:

I myself have not bid on any coins yet I have looked at GC and Heritage I was wondering ? I have seen extra charges? Is there a percentage you have to pay after winning a bid added on to the price you won it for? Thought I would ask seeing there sounds like many here that have used the auction system.9_9   

JP,

Most of the auctions have a buyers premium. It will differ from auction houses to auction house or even from one auction to another. Usually in the 10%-15% range. Read the fine print to find out for a specific item. 
 

Also I know you had asked recently about pricing. If you look up sold prices most of the time it will be the realized price including buyers premium. However it may not from time to time so when looking at prices realized see if it included it or not. 

Edited by Woods020
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4 hours ago, Jeremy468 said:

As a fellow Hoosier, tell me more... how do we do that

 

Just do an app search for “eBay sniper”. There was a GREAT one for the BlackBerry OS years ago. I haven’t found one as slick for iOS lately.

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On 7/15/2021 at 10:19 AM, VKurtB said:

At Heritage and Stack’s - Bowers, too. Probably Legend as well. If an auction is NOT run under Pennsylvania law, I just assume shill bidding is all over it. In Pennsylvania, the Department of State sends out undercover “auction cops” to police its auction laws. Licenses get pulled on the spot for shill bidding.

That is true even bidding going on over in European market is probably rigged as well . I’ve only bid in 4 coins from heritage only won 1 of them , I was warned by a few about heritage bidding on their own stuff to run the prices up … thanks for mentioning that good information helps out new people on here . As well as even me I’d be lying if I said I haven’t engaged into a bidding wars and get carried away and actually won having to pay a high price and fees I have and I learned the hard way . But lately I only bid what I’m willing to pay and not get carried away sometimes bidding can become a serious addiction just as bad as gambling I wouldn’t rely on it all time or have high hopes of winning all the time … 

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On 7/13/2021 at 8:37 PM, Jeremy468 said:

As a fellow Hoosier, tell me more... how do we do that

As Kurt said, just do a google search for Snipe programs, you will find a lot of them.  I use Auction Sniper..  The one downside is you do have to give them your Ebay ID and password.  But many of these programs have been around for 20 years and I've never heard complaints about them.

Edited by Conder101
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On 7/14/2021 at 4:55 PM, Jason Abshier said:

I always bid max amount I wish to pay for a coin I do not come back to see if I won and do not or engage in battle of bidding 

Same.  I've sold on eBay (various items, not just coins) since 2001.  And one thing that hasn't changed, which I'm sure applies in real world auctioning, is that bidders make it emotional even when the item at stake is not worthy.  And by worthy I mean one of those items that only comes to market periodically and has no equal.

Shoot, I can't even tell you how many times I've had an item listed as Fixed Price for 2 months then sent it to auction and it sold for well above the Fixed Price listing because 2 guys got into a battle at the end.  

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On 7/15/2021 at 12:56 PM, Quintus Arrius said:

[All I know is Wesley Snipes served his three years for tax evasion in McKean, PA.]   :facepalm:

I think I saw him there during a prison tour. /kidding

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