[meteorite-list] Elliott Collection Sale Results

[Darryl Pitt]

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