Reply to "Another Newbie Question"

gordoMember

I defer to your knowledge, Puppy, as I think you must bid more often on that kind of thing.

But I was thinking of a post months ago in which (I think) Rick said the only reliable way to win those "one-of-a-kind, never see it again in your life" items is to place a really huge bid, like 2-3 times what the item would be appraised at, and get your bid in early so that you'll beat all equal bids. Obviously not all of us have this option.

I can see how this might work using a snipe, too, but with a snipe you're taking the chance that one of the proxy bidders has already placed a bid larger than yours, in which case they'll win. I'm acquainted with a person of considerable means who does this. When he's really serious about acquiring something, he bids high and early, and I think his win rate is close to 100%.

(Rick, please do correct me if I've misinterpreted what you posted.)

8/21/042:59 PM

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