Greetings:
What John just mentioned about sticking to a limit prior to an auction
is some of the very best advice you will ever receive as it regards
the auction environment. Do not compete with others---stick to the
number you've determined that works for you.
In the same spirit, here is another bit of advice: do not be daunted
by high estimates. So often I've heard friends mention "I can't
believe so-and-so went for so little." Take the trouble of putting in
a low bid, you might just have snagged an unbelievable bargain.
Hope everyone is enjoying their summer. All best / Darryl
On Aug 19, 2009, at 11:27 AM, John Gwilliam wrote:
This is very typical of auctions for just about anything, it is not
unique to meteorites. I've been to antique auctions where high
priced items got passed over while low end things got fought over.
Same is true for horses and cattle (which I have personal knowledge
of).
Next time you bid at an auction, especially a live one, pay
attention to what goes on inside your head. Most people have a
"limit" of how much they will bid per increment and also what price
they will drop out. However, it's easy to get sucked into bidding
$10 or $20 or $50 more than you your original plan. It's easy to
"twenty dollar yourself to death" at auctions. In my opinion, it's
easier to justify bidding on twenty $50 items rather than one $1,000
item even though they have the same total value. Auction bidding
can get addictive.
Best,
John Gwilliam
Depth of Field Management | 1501 Broadway Suite 1304 | New York,
New York 10036 | 212.302.9200
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