Sometimes I just don’t understand people on ebay. 1 1

[Lem E]

I was watching this coin auction hoping to get it for under the BIN price of the same coin from the same seller. They actually have 3 or 4 of these at the BIN of $286. So I am about to place a bid, and the price jumps up to this. I just don’t get it. I’ll bet the seller is laughing all the way to the bank.

https://www.ebay.com/itm/1963-Jefferson-Nickel-NGC-MS67-GEM-BU-A4-409-009-/393877366882?mkcid=16&mkevt=1&_trksid=p2349624.m46890.l49286&mkrid=711-127632-2357-0

[gmarguli]

Oh, there is no explaining eBay. 

Years ago I listed a gold US commemorative, starting at $2495, which was around retail value. It didn't sell, so I relisted it a couple hundred lower. It didn't sell all the way down to $1495. I was into it for so little I decided to just let it go and auction it starting at 1c. Final price was ~$2650. 

 

[physics-fan3.14]

Yup, it's called "auction fever." 

People lose rational though, jump into the heat of competition, and bid until they win. I see it happen all the time. 

Honestly, winning at auction has a certain thrill, and that enjoyment (the hunt) is an important part of the hobby. Even if it doesn't always make sense. 

[The Neophyte Numismatist]

How to auction like a boss:

1. Never impulse buy - Know what you are after, and what it's worth.
2. Buy the right coin first, then get the deal (not the other way around).
3. Set an auction limit for the item (consider the juice)
4. Stick to your limit
5. STICK TO YOUR LIMIT

[RWB]

On 1/25/2022 at 5:48 PM, The Neophyte Numismatist said:

How to auction like a boss:

1. Never impulse buy - Know what you are after, and what it's worth.
2. Buy the right coin first, then get the deal (not the other way around).
3. Set an auction limit for the item (consider the juice)
4. Stick to your limit
5. STICK TO YOUR LIMIT

That's almost the same list being pushed by the NFL so they look like they are trying to control sports gambling. Saw one Sunday evening.

[Coinbuf]

Auction fever and the drive to "get a deal" results in some crazy behavior.

[Hoghead515]

In the past year, on different occasions, I bidded on some quarters I really wanted for my set. I bidded way more than they were worth cause I really liked them and it would have been worth it to me. Didnt go much over the NGC price guide but, I got outbidded by $30 to $40 on a couple of them. I thought I was crazy for what I bidded. The other ones just beat me by a few dollars. I agree that some really like the bidding competition. Wether its worth it or not. 

Edited January 27, 2022 by Hoghead515

[GoldFinger1969]

On 1/25/2022 at 5:07 PM, physics-fan3.14 said:

Yup, it's called "auction fever."  People lose rational though, jump into the heat of competition, and bid until they win. I see it happen all the time.  Honestly, winning at auction has a certain thrill, and that enjoyment (the hunt) is an important part of the hobby. Even if it doesn't always make sense. 

The Winner's Curse, I believe they call it.  

[asdfgh]

Some people put in a very high initial bid so they don't have to watch the auction.  They then get bumped up to over retail by other bidders.

I was bidding on a old book and at the last moment I hit too many zeros and bid of 500 instead of 50. I was out bid. I almost had a heart attack.

The book was worth about 100.