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License plate collecting with the Wizard
| December 5th, 2015 at 7:22:37 AM permalink | |
| Ayecarumba Member since: Oct 24, 2012 Threads: 89 Posts: 1744 | If the reserve is $1000 and the current bid is $750, will the bid go to $751 or $800 if you bid $800? |
| December 5th, 2015 at 7:56:55 AM permalink | |
| Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 |
No. The reserve doesn't kick in until the auction is over. The way it works in some situations a happy deal could be made but doesn't happen. For example: Reserve = $1,000 High maximum bid = $1,200 Second highest maximum bid = $800 The auction will close a notch above $800, say $808. That will be less than the reserve and the auction will close without a sale, despite the fact that the high bidder would have gladly paid $1,000 for it. Anybody care to bet me that the reserve is not met? I say it won't be. Knowledge is Good -- Emil Faber |
| December 5th, 2015 at 10:58:52 AM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25013 |
I said that in my first post. People believe anything connected to a movie is worth 100 times more than it is. I saw a guy on Pawn bring in a saddle that John Wayne supposedly used and he wanted 10's of thousands for it. And he had way of proving it was the real thing. If you take a risk, you may lose. If you never take a risk, you will always lose. |
| December 5th, 2015 at 1:59:39 PM permalink | |
| Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 |
I love it when Rick shoots down such people. Knowledge is Good -- Emil Faber |
| December 5th, 2015 at 2:06:40 PM permalink | |
| Ayecarumba Member since: Oct 24, 2012 Threads: 89 Posts: 1744 | The Pulp Fiction plates have come up for auction before, and not made the reserve. What does it cost the seller to offer it that way? I thought the auction house charges a fee depending on the size of the reserve. |
| December 5th, 2015 at 3:19:41 PM permalink | |
| DRich Member since: Oct 24, 2012 Threads: 51 Posts: 4974 |
I believe it is 2% of the reserve amount. At my age a Life In Prison sentence is not much of a detrrent. |
| December 5th, 2015 at 6:24:37 PM permalink | |
| Ayecarumba Member since: Oct 24, 2012 Threads: 89 Posts: 1744 | Last year about this time, the same seller listed the same plate with a "buy it now" price of $2650. I would assume the reserve price is $2500, unless he is more motivated to sell. The high bid last year was a bit over $600. Link to last year's listing |
| December 5th, 2015 at 7:28:50 PM permalink | |
| Evenbob Member since: Oct 24, 2012 Threads: 146 Posts: 25013 |
He might drop it to 2000, but he's an idiot, somebody has convinced him it's worth 5 times what it's real value is. If you take a risk, you may lose. If you never take a risk, you will always lose. |
| December 5th, 2015 at 7:35:57 PM permalink | |
| Wizard Administrator Member since: Oct 23, 2012 Threads: 239 Posts: 6095 |
That takes me to the current auction, where I see the price is now $610. That is more than my sniper bid, so I'm out of it. At least I have the license plate to Coach Taylor's car in Friday Night Lights. Knowledge is Good -- Emil Faber |
| December 5th, 2015 at 8:38:44 PM permalink | |
| Ayecarumba Member since: Oct 24, 2012 Threads: 89 Posts: 1744 | Sorry, try this Looking closer, the last auction actually ended last month. In any case, it is unlikely the price is below $1000. |