RIA auction Question

[Dave Sanders]

I was able to find the items I bid on through the links above. Wow, was I way off. Thanks all for the help.
Dave

[sheepherder]

Originally Posted by Dave Sanders

I was able to find the items I bid on through the links above. Wow, was I way off.

If you based your bids on RIA's low/high estimates, they will be way way off. I've lowballed bids (as IthacaDave suggested) and bid hundreds over their high estimates and still been outbid, sometimes by a thousand or more. . And I consider my interests to be wildly different from the average collector, so I have to wonder if the 'house' doesn't take consignments with a 'reserve' and if that reserve isn't met, then the 'house' bids on it and is a 'winner'. I have been to auto auctions where that exact scenario is played out.

I still visit the RIA auctions and bid on items but I no longer have any expectation of winning anything. I just like to receive the big auction catalogs.

[ithacaartist]

Originally Posted by sheepherder

If you based your bids on RIA's low/high estimates, they will be way way off. I've lowballed bids (as IthacaDave suggested) and bid hundreds over their high estimates and still been outbid, sometimes by a thousand or more.

...I no longer have any expectation of winning anything. I just like to receive the big auction catalogs.

If you keep it up, you will eventually win a lot! Persistence and patience will get results, I've found. It's not a really fast way to acquire examples for a collection, but when it hits, it's economical.

I go thru the catalog (for auctions that coincide with $ in my account) and plop down proxy bids for what I'm willing to pay for an item, then await the results. Use the auction company's site to leave the bid and save the Proxibid 3%! Pay by M.O. and save the credit card 3%!

The M1900 Stainless and M1900 Commercial, my last two, I think I did pretty darn well.

[alvin]

Originally Posted by sheepherder

bid hundreds over their high estimates and still been outbid

Don't bid until "fair warning". At that time, make decision quickly, go or no go.

Ambushing an item does not work well in big auction houses. They have too many bidders. Almost nothing is very cold these days.