Bidding Blunders. Be Glad This Isn't You.

https://washingtonsurplusinc.hibid....lus/?q=stamp

This auction is just wrapping up. Lot 1t was described as 'Packs of RARE STAMPS'. Thirteen bidders got on board and the winner took these home for $26. Times 10 though buddy, times 10. $260 for a handful of great rarities.

Do not have a hot beverage to your lips when you see the picture.

Ouch, that's not the only blunder, looks like a whole lot of overpaying happening. $24 USD for 2 Canada Winnie the Pooh sheets. Can be bought anywhere for $5-7.

I was thinking $2.60.

None of the other lots looked any better. Yikes!

PER PACK my goodness. Who would bid 26$ for this in the first place? If someone offered me this for free I'd say thanks but no thanks. Quite honestly if this was me I just wouldn't pay. What a scam

Yes the price is steep but the buyer got himself RARE stamps. Just can't believe it. Come to think of it, maybe I should start selling stamps online.

Something appears awfully fraudulent about the whole thing, I am not sure anyone could be that stupid

Alas, some people are.

I have bid on some items on HiBid. Generally postage lots, but I see many lots going for well over the going rate. Example are those 3c sheets in that auction going for $25-30 each. Makes me think I need to sell through one of these local estate auction firms that list on HiBid.

I think you see people bidding that are not using stamp auction houses or ebay. They are those sheet and FDC accumulators.

I will say occasional you hit a bargain. Picked up a complete MNH Duck stamp collection in a White Ace album. After moving the stamps to my album, I sold the empty White Ace binder, slipcase and pages for more than I paid for the lot.

Also picked up an accumulation of priority mail and express mail stamps at less than 25%. Every dog as his day.

Two minute warning is this common? A way around snipping and a way to inflate the price.

Prices do seem off realistic.

"Bidding Notice: This is an Online - Internet Only - Timed Auction. All bidding activity will take place online. When bidding, just enter your maximum bid. The system will bid on your behalf using only what it needs to keep you in the lead. This feature is the surest way to win the items you're interested in at the lowest possible price. We have a two-minute soft close policy on each lot. This means that if a bidder enters a bid within two minutes of the lot's initial closing time, a two-minute extension would be added on. The lot will not close until bidding is static for two minutes."

I've seen the "two minute" warning, or something similar, elsewhere as a way to thwart last second sniping. I participate in some of those, although I still set my limit and stick to it so I don't get carried away and "inflate" the price. In my very early days on ebay, before I was aware of sniping as a thing, I used to get ticked off when I thought I had won an auction, only to see it snatched away. Then I just joined the crowd, although I just really don't like it.

Sniping is a behavior that begets sniping and I am guilty as heck of it. Really no choice on some venues unless you want to lose every time. One reason why I actually enjoy real auctions most of the time although they do have their own stressors. I hate waiting for Scott Trepel to hammer a lot down when I am the high bidder and it goes on and on and on....... I was high bidder not long ago on a spectacular US 292 and I was positive I had it. Scott kept it open for over three minutes after my bid, talking to the room about what a steal it was and how nice it was and how it was worth another bid, until the room jumped back in and I had to get out. It really ticked me off and soured me a bit actually. He was doing his job to extract the most value but many other great lots were hammered down as if he was late for Court. Still sits wrong with me. Should have had an agent perhaps? That was maybe my blunder.

Yes, can be nerve wracking when you've got a good deal on something in a live auction - hoping no one else clicks that bid button.

I like the Rasdale auction system in that regards - always a 7 second countdown, reset in case of a new bid. No waiting on the auctioneer's whim...

Maybe it was house-owned. House-owned lots tend to get an undue amount of attention from the auctioneer.

Mooter - It is possible I suppose. It was a "name" sale though and I have not known Siegel to engage much, if at all, in owning their lots.