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  #11  
Old 01-23-2020, 05:54 PM
ZvenoMan ZvenoMan is offline
 
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Originally Posted by letterman View Post
My point exactly! When you look at the site the C M P only requires you to bid $1.00 to start the bidding, that is on the bottom of the page. I have placed a bid on one because I got there before he did, he jumped it to $1050.00. I understand the reserve and how it works. My point is auction is five days, I think most people would bid appropriately and you might, could, maybe get one for $1051.99 and then again maybe not. I donít think this individual ever bids after his initial bid.
I know people who place minimum (above reserve) bids on multiple items on other auction sites assuming that most will be outbid, but occasionally one slips through and they win one or several at that low price.
Nothing nefarious about it, (other than the specific rules here), itís one of many auction strategies that work well.
If you want a 1911 and the rules donít prohibit bidding on multiples why worry about it; cmp seems to have a process to manage it.

On a separate note, some people feel no need to place bids below the reserve (if known). I donít bid for entertainment, so if I know the reserve Iíll bid that, or not bid at all.
Jh
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  #12  
Old 01-23-2020, 06:42 PM
letterman letterman is offline
 
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Are you saying if you know the reserve of an item, that is your first bid? I have always tried to get whatever I am bidding on as cheap as I can. I donít see then why I shouldnít go to the auction every Monday at 12.01. Am cst and bid $2000.00 right out of the gate. I would only have to pay for one if I won all five. My point was and is why does one person take it as his goal to drive the price up because there is no consequence. It doesnít matter if it is the CMP auction or any other auction. The person bids on all pistols and never bids again.
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  #13  
Old 01-23-2020, 08:00 PM
Gewehr43 Gewehr43 is offline
 
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Originally Posted by letterman View Post
Are you saying if you know the reserve of an item, that is your first bid? I have always tried to get whatever I am bidding on as cheap as I can. I donít see then why I shouldnít go to the auction every Monday at 12.01. Am cst and bid $2000.00 right out of the gate. I would only have to pay for one if I won all five. My point was and is why does one person take it as his goal to drive the price up because there is no consequence. It doesnít matter if it is the CMP auction or any other auction. The person bids on all pistols and never bids again.
I'm not sure of your point here...Ö but here's my 2%:

Reserve bids are just that, the minimum amount the seller will take for an item.
You can't bid below it and win Ö...and If that is too high for you, then don't bid on it.

You could bid every auction at 2000.00 to use your example.... but the CMP just posted their response to how they would cut you off.....


Lastly...Ö"..... why does one person take it as his goal to drive the price up because there is no consequence...Ö.."
I'm not sure what you mean by this, but people decide they want something and make multiple offers to ensure they get one.
They aren't in themselves, driving prices up. Instead if other bidders choose to chase an high bid (the determined bidder made) that is on them.
What I mean is, if say unknown to me, someone REALLY wants a 1911 here and his max is, say 5000.00. It's still on me to say, "ok, this pistol is worth say, 2500.00 to me. That is my max." And if I break down and start "chasing" his max bid over 2500, that is my own stupidity.


Besides the price paid for one 1911 here doesn't impact the prices for the others. So if one pistol is "overbid" that is on the buyer for overpaying, but that is his/her choice and nobodies fault but their own.

PS: Read what the CMP said in post #8, there is a "consequence" to playing the field. The CMP is actively monitoring the auctions and will cut you off if you are caught playing games.
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Last edited by Gewehr43; 01-23-2020 at 08:11 PM.
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  #14  
Old 01-23-2020, 09:43 PM
ZvenoMan ZvenoMan is offline
 
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Originally Posted by letterman View Post
Are you saying if you know the reserve of an item, that is your first bid?
Yes

Anything less is a waste of, well, everything.
In case you don't know a reserve price is the price the auction must meet or the item WILL NOT BE SOLD, even if there are 10,000 bids.
Given the definition of "reserve" I think this is obvious; it's certainly a common feature of auctions.

It's an auction. The market (of that moment in time, in that auction) sets the price. There are many strategies people use, not just what you or I think about. Like an sport or contests, careful examination of the rules often makes a difference.
Of course I don't advocate breaking whatever rules exists for that auction. Some people use a strategy of scam bids for various reasons, while not easy for us to see the seller can detect this and CMP is clearly managing that just fine.

If the known reserve is $1050, and I bid less, knowing of that reserve, I am simply wasting my time and yours. Many times the reserve is not known, so of course bid low and pray.
If you know the auction reserve is $1050, bid $1050 or more, or do not bid.

Some people bid as soon as they see an item, others wait until the last minute. Both have their merits, both are fair, so neither are for us to criticize.

If you want something, bid on it until you reach your max. Then move on.

JH
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  #15  
Old 01-23-2020, 10:08 PM
letterman letterman is offline
 
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I have one! I still donít understand your logic. I understand how the reserve works. Some people are better equipped to spend more money than others. I remember a buyer of a CMP 1911, that in my opinion was apologizing because he had been drinking when he made a crazy bid and won. Everything might be a waste in your opinion but a little effort never hurt anyone. Letís say that it is the last hour of the auction and the reserve has not been met. That might be the better time to bid your reserve. You might be able to get it for a lot cheaper.
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  #16  
Old 01-23-2020, 10:19 PM
ZvenoMan ZvenoMan is offline
 
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Originally Posted by letterman View Post
I have one! I still donít understand your logic. I understand how the reserve works. Some people are better equipped to spend more money than others. I remember a buyer of a CMP 1911, that in my opinion was apologizing because he had been drinking when he made a crazy bid and won. Everything might be a waste in your opinion but a little effort never hurt anyone. Letís say that it is the last hour of the auction and the reserve has not been met. That might be the better time to bid your reserve. You might be able to get it for a lot cheaper.
Like I said, there are many strategies, bid early, bid late, bid often, bid once. Each has it's purpose, I won't debate one over another.

But any bid below a known reserve is a waste of time, as you will not get the item. Bid it 1st day, last 60 seconds, you won't get the item.
That is not a strategy.
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  #17  
Old 01-23-2020, 10:59 PM
letterman letterman is offline
 
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I have won many auctions by bidding In the last minutes. Cíest La Vie!
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  #18  
Old 01-23-2020, 11:11 PM
ZvenoMan ZvenoMan is offline
 
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Thanks. We agree, sometimes bidding at the last minute will win an auction. Kind of like where I said that above. Twice.
To be clear, my discussion was around bidding below the reserve price, but whatever.
Jh
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  #19  
Old 01-27-2020, 02:53 PM
Dingsbums Dingsbums is offline
 
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Originally Posted by ZvenoMan View Post
Like I said, there are many strategies, bid early, bid late, bid often, bid once. Each has it's purpose, I won't debate one over another.

But any bid below a known reserve is a waste of time, as you will not get the item. Bid it 1st day, last 60 seconds, you won't get the item.
That is not a strategy.
Bidding below the reserve isn't a waste of time if one of your goals is to get on the bidders list so you can track the bidding. And I think you're missing the point of a reserve with bidding starting at $1 for these pistols. It's to get more people to bid who otherwise not bother when bidding starts at the reserve. When you have one individual who placed first bids on almost all pistols, he's just tracking bidding. When that individual places first bids for reserve on all pistols on auction, he's discouraging others from even bidding in the first place regardless of it being a waste of time to bid below reserve. And unfortunately, that is what has happened with most of these last few auctions, one individual has bid up -all- of the pistols to reserve. He hasn't placed a winning bid yet.
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  #20  
Old 01-27-2020, 07:31 PM
ZvenoMan ZvenoMan is offline
 
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OK, if that works for you, great.
People who watch and participate in auctions have found you can simply save and watch an auction rather than placing a useless bid (just like you can follow a post here without posting "following").
Yes, low staring bids do encourage people to participate. If they do not know of the reserve.
Someone bidding the reserve does not in any way discourage anyone else from participating in an auction. Unless their personal max is below the minimum, and even then it's not that bidder that knocked them out.
Again, all is only if you know what the reserve is.
Bidding at/above the reserve price may be "tracking", but he is also obligated to buy.
If there are several pistols I like there is nothing wrong with me bidding actively on all of them at the same time (according to CMP). Common sense says towards the end of them I will focus on just one, but even then, if I win more than 1 CMP will sell me the highest $, and re-auction the others. At that point I can't bid.
None of this prevents you, or anyone (who has not received their CMP 1911) form participating in these auctions.

Come on, let others do what they want. If you want one, bid on it. Otherwise, watch like the rest of us.
There are many different auction strategies, but none preclude someone from bidding whatever they want whenever they want during an active auction.
Auctions have one purpose: To sell the item. They are not intended to be "fair", or to allow the lowest bid to wing or the most deserving to win. Bid if you want.

JH

Quote:
Originally Posted by Dingsbums View Post
Bidding below the reserve isn't a waste of time if one of your goals is to get on the bidders list so you can track the bidding. And I think you're missing the point of a reserve with bidding starting at $1 for these pistols. It's to get more people to bid who otherwise not bother when bidding starts at the reserve. When you have one individual who placed first bids on almost all pistols, he's just tracking bidding. When that individual places first bids for reserve on all pistols on auction, he's discouraging others from even bidding in the first place regardless of it being a waste of time to bid below reserve. And unfortunately, that is what has happened with most of these last few auctions, one individual has bid up -all- of the pistols to reserve. He hasn't placed a winning bid yet.
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