Quote:
Originally Posted by murraypaul
Then I would have bid more in the first place. That is how it is meant to work. Decide how much you want to pay, bid that......
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But you would then lose the whole point of trying to buy something at an auction.
As someone who has 30 odd years of experience at auctions, the idea is to bid to buy at the lowest price you can,
that is the way an auction is supposed to work - which doesn't mean giving away your maximum price to other bidders, or, very important, to the auctioneer. They are (in the real world) only human, and if he/she has a big bid sitting before him, he may well have a "reappraisal" of what he /she thinks it is worth. So, for example, instead of starting bidding at 100, with a bid of 1,000 "on the book" the auctioneer may begin at 150/200/300. Even though it may have an auction estimate of 150, say.
But, if you trust the auctioneer, and you cannot attend in person, or have no-one to bid on your behalf, or do not wish to be there,then you have to leave a maximum price you would be willing to pay.
Or bid by 'phone or internet. The amount of your maximum bid is still secure.
Now, ebay..... No personal contact, no knowledge of the people running it, no control once you have placed your bid, lots of strange tales about the bidding process, no knowledge of the technological marvels that may, or are intended/designed to, prevent you bidding against a mythical bidder.
Such "auctions" may be absolutely free of blemish or outside interference - but I would only bid a price .... A) I could afford to lose or B) leave an amount I would consider a real bargain.
That is, if I was absolutely happy and very sure that I was buying what I thought I was......
