Holts sealed bid auction.

[steve medlock]

I bid on several but only got one rifle and one pistol this time. Neither are really bargains, especially if I drive up from Kent to collect. I must say I prefer conventional auctions over sealed bid. Whenever you win a lot on the latter, you immediately wonder if you bid too high!

[flogger]

I bid on several but only got one rifle and one pistol this time. Neither are really bargains, especially if I drive up from Kent to collect. I must say I prefer conventional auctions over sealed bid. Whenever you win a lot on the latter, you immediately wonder if you bid too high!

I agree with your logic, i bought a gun in last sealed bid auction i bid high because i did not want to loose it, but if i had bid
£90 lower i would still have won it.

[Lakey]

I agree with your logic, i bought a gun in last sealed bid auction i bid high because i did not want to loose it, but if i had bid
£90 lower i would still have won it.

But you didnt know that at the time.

The sealed bid auction is a very clever format for the auction houses, as it can be run with the minimum of outlay, and it "encourages" everyone to bid to their very top price. So, if only two people bid on a given item, one person bid £5.00, and the next person bid £40.00, the winner pays the full £40.00 plus fee's. Then has the additional cost of a collection from Norfolk.


Lakey

[flogger]

But you didnt know that at the time.

The sealed bid auction is a very clever format for the auction houses, as it can be run with the minimum of outlay, and it "encourages" everyone to bid to their very top price. So, if only two people bid on a given item, one person bid £5.00, and the next person bid £40.00, the winner pays the full £40.00 plus fee's. Then has the additional cost of a collection from Norfolk.


Lakey

Quite right.

[Geezer]

But you didnt know that at the time.

The sealed bid auction is a very clever format for the auction houses, as it can be run with the minimum of outlay, and it "encourages" everyone to bid to their very top price. So, if only two people bid on a given item, one person bid £5.00, and the next person bid £40.00, the winner pays the full £40.00 plus fee's. Then has the additional cost of a collection from Norfolk.


Lakey

Yes, and if you understand that you take it into account. And can still get the odd bargain.

[silva]

But you didnt know that at the time.

The sealed bid auction is a very clever format for the auction houses, as it can be run with the minimum of outlay, and it "encourages" everyone to bid to their very top price. So, if only two people bid on a given item, one person bid £5.00, and the next person bid £40.00, the winner pays the full £40.00 plus fee's. Then has the additional cost of a collection from Norfolk.


Lakey

For sure - there was a beautiful collection of pre-war german Mauser and Walther .22 rimfires in the sealed bids auction - probably all from the same source. The prices varied from under a £100 to over £500 on seemingly identical condition rifles :-)