KGoldin
07-14-2015, 07:33 AM
I wanted to post some information about the current bid on this item
I receive more than one inquiry from interested parties that are wondering why with an opening bid of $5000 there is only one bid on the item yet it's $24,000.
An individual has the ability to make a Max bid which is a secret top bid up to a certain point as you all know or a straight bid where they can bid a specific amount regardless of what the minimum bid is.
In this item there is one bid and it is a straight bid of $24,000. When the bid was placed and I saw it I actually called the bidder to verify that he intended to place a straight. $24,000 on the item he confirmed that was his intent and understood that the item had a minimum bid of 5000 but he wanted to place that straight hid of $24000. It is someone who is familiar with the auction process and was not making a rookie mistake.
This has occurred in the auctions e in the past where we had a Derek Jeter glove that had 2000 as opening bid and somebody placed a straight bid of $20,000 back love ended up selling for over 50,000. I Assume it is the bidders way of telling us in his opinion our minimum was too low as well as perhaps trying to reduce competition for themselves.
Because I have received more than one question on this and it has confused some potential bidders I thought it best to get it out there so that any potential bidders knew that this was a bid not a system error and if a potential bidder was waiting for the item to revert back to $5000, it wasn't going. To happen. We estimate this item at significantly higher than the current bid due to the rarity and desirability of Jordan photo matched jerseys, especially from his final championship season and wish everyone good luck in the auction
http://www.goldinauctions.com/Photo_Matched_1997_1998_Michael_Jordan_Game_Used_a-LOT16513.aspx
I receive more than one inquiry from interested parties that are wondering why with an opening bid of $5000 there is only one bid on the item yet it's $24,000.
An individual has the ability to make a Max bid which is a secret top bid up to a certain point as you all know or a straight bid where they can bid a specific amount regardless of what the minimum bid is.
In this item there is one bid and it is a straight bid of $24,000. When the bid was placed and I saw it I actually called the bidder to verify that he intended to place a straight. $24,000 on the item he confirmed that was his intent and understood that the item had a minimum bid of 5000 but he wanted to place that straight hid of $24000. It is someone who is familiar with the auction process and was not making a rookie mistake.
This has occurred in the auctions e in the past where we had a Derek Jeter glove that had 2000 as opening bid and somebody placed a straight bid of $20,000 back love ended up selling for over 50,000. I Assume it is the bidders way of telling us in his opinion our minimum was too low as well as perhaps trying to reduce competition for themselves.
Because I have received more than one question on this and it has confused some potential bidders I thought it best to get it out there so that any potential bidders knew that this was a bid not a system error and if a potential bidder was waiting for the item to revert back to $5000, it wasn't going. To happen. We estimate this item at significantly higher than the current bid due to the rarity and desirability of Jordan photo matched jerseys, especially from his final championship season and wish everyone good luck in the auction
http://www.goldinauctions.com/Photo_Matched_1997_1998_Michael_Jordan_Game_Used_a-LOT16513.aspx