Comic-Link Featured Auction 8/15-9/5 1 1

[vodou]

...at the risk of getting stuck with sky high wins occasionally too!

[Rick2you2]

On 8/31/2024 at 12:58 AM, tth2 said:

The best situation is when you've figured out that a "Phil" is on the other end, and you can punishment bid him into oblivion.

There is an expression used in TV which has nothing to do with this situation, but sounds like it should: you “drop the dead donkey”. When I put in a high reserve, I add a peculiar cut-off in the amount in case someone pulls that on me.

And no, you cannot punish a “Phil” into oblivion. He just pays a lot.

Edited August 31 by Rick2you2

[Dr. Balls]

On 8/30/2024 at 10:58 PM, tth2 said:

The best situation is when you've figured out that a "Phil" is on the other end, and you can punishment bid him into oblivion.

That would be a satisfying endeavor, for sure.

[jjonahjameson11]

On 8/30/2024 at 5:59 PM, Rick2you2 said:

If he is buying and selling at a profit, you are under-bidding, IMO. He can’t lose money on every deal and make it up in volume.

Yes, and no.

I don't want to divulge what, when, etc in a public forum.

[Dr. Balls]

On 8/30/2024 at 12:06 PM, jjonahjameson11 said:

I’m always bidding against a “Phil “.

in my case, his name is Romitaman 😡

[MAY1979]

On 8/30/2024 at 5:59 PM, Rick2you2 said:

If he is buying and selling at a profit, you are under-bidding, IMO. He can’t lose money on every deal and make it up in volume.

and if its simply a power trip or ego type thing?

[Rick2you2]

On 8/31/2024 at 3:52 PM, MAY1979 said:

and if its simply a power trip or ego type thing?

A businessman on a power trip engaged in ordinary course of business dealings?

[MAY1979]

removed - argumentative.

Edited September 1 by MAY1979

[tth2]

On 8/31/2024 at 7:13 PM, Rick2you2 said:

And no, you cannot punish a “Phil” into oblivion. He just pays a lot.

Obviously my use of the term "oblivion" was just rhetorical hyperbole.  The point is that making bidders wa-a-a-y overpay if they drop massive "win at all costs" last second bids is the only way to deter them from using this tactic.  And if it doesn't deter them, that's fine, but then they're going to pay for the privilege of winning the item.

[Rick2you2]

On 9/1/2024 at 12:26 AM, tth2 said:

Obviously my use of the term "oblivion" was just rhetorical hyperbole.  The point is that making bidders wa-a-a-y overpay if they drop massive "win at all costs" last second bids is the only way to deter them from using this tactic.  And if it doesn't deter them, that's fine, but then they're going to pay for the privilege of winning the item.

Frankly, if I wanted it, I wouldn’t care. Earlier this year, I spent about $7,500 on a Heritage page (including shipping, taxes and BP) which the original seller had been willing to sell me 2-3 years earlier for about $750. I demurred. Things changed, and I changed my mind. And no, the market on the piece did not zoom up. Do I regret spending the extra money? Sure. Would I do it again? Yes. It’s just money. 

Let me add that if I wasn’t that interested in the piece, I would have dropped out several thousand dollars earlier. I have done that, too. So a punishment bid can carry an ugly price for the punisher instead of the one to be punished.

[Shaun Hill]

I don’t understand the punishment bid idea. Are people that mad about someone else buying a thing that they feel good about making them pay more, even at the risk of getting stuck with an overpriced thing they may themself not want? Seems a little juvenile to me. 

[MAY1979]

On 9/1/2024 at 11:12 AM, Shaun Hill said:

I don’t understand the punishment bid idea. Are people that mad about someone else buying a thing that they feel good about making them pay more, even at the risk of getting stuck with an overpriced thing they may themself not want? Seems a little juvenile to me. 

 Be very quiet or the auction houses who love the way it pads their bottom line will send folks after you. Even eBay has done that! (to the mods who may see this post please note; that is official USA public record)

Edited September 1 by MAY1979

[Rick2you2]

On 9/1/2024 at 11:12 AM, Shaun Hill said:

I don’t understand the punishment bid idea. Are people that mad about someone else buying a thing that they feel good about making them pay more, even at the risk of getting stuck with an overpriced thing they may themself not want? Seems a little juvenile to me. 

Some dealers apparently do it to maintain the value of their existing stock of art by the same artist. I gather some collectors feel the same. 
And juvenile is only one word for it. 

[tth2]

On 9/1/2024 at 8:07 PM, Rick2you2 said:

Let me add that if I wasn’t that interested in the piece, I would have dropped out several thousand dollars earlier. I have done that, too. So a punishment bid can carry an ugly price for the punisher instead of the one to be punished.

Obviously you have to know your opponent(s) well to effectively punish bid.  Otherwise, you're just randomly dropping high bids and are likely going to end up winning (and overpaying).

[tth2]

On 9/1/2024 at 11:12 PM, Shaun Hill said:

I don’t understand the punishment bid idea. Are people that mad about someone else buying a thing that they feel good about making them pay more, even at the risk of getting stuck with an overpriced thing they may themself not want? Seems a little juvenile to me. 

It drains money from a competitor and perhaps will leave them short of money when they're bidding against you on something that you really do want.  Also, as you likely own some of the same types of the pieces if you know the sector and competitors well enough to effectively punish bid, the value of your own pieces will benefit from the strong prices that result from the punishment bidding.

[tth2]

On 9/2/2024 at 4:46 AM, Rick2you2 said:

On 9/1/2024 at 11:12 PM, Shaun Hill said:

I don’t understand the punishment bid idea. Are people that mad about someone else buying a thing that they feel good about making them pay more, even at the risk of getting stuck with an overpriced thing they may themself not want? Seems a little juvenile to me. 

Some dealers apparently do it to maintain the value of their existing stock of art by the same artist. I gather some collectors feel the same. 
And juvenile is only one word for it. 

That's not punishment bidding, that's price support bidding.  There's a difference.

[Rick2you2]

On 9/2/2024 at 11:29 AM, tth2 said:

That's not punishment bidding, that's price support bidding.  There's a difference.

Understood, but from another prospective bidder’s view, just as vile.

[Dr. Balls]

On 9/1/2024 at 9:12 AM, Shaun Hill said:

I don’t understand the punishment bid idea. Are people that mad about someone else buying a thing that they feel good about making them pay more, even at the risk of getting stuck with an overpriced thing they may themself not want? Seems a little juvenile to me. 

Juvenile, but probably satisfying.

[Matches_Malone]

Well..so much for prices staying low for the items I'm interested in. . There are some bargains still 

[Rick2you2]

On 9/5/2024 at 4:02 PM, Matches_Malone said:

Well..so much for prices staying low for the items I'm interested in. . There are some bargains still 

I confess a real fondness for that Warfront cover.