Quote:
Originally Posted by the
The way you avoid that is to bid the absolute highest you are willing to pay. It is then impossible for you to "lose out" on the item. The only way you will not get it is if it sells for a price higher than you are willing to pay.
What someone else is willing to pay should have no effect on what YOU are willing to pay.
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That is fine in theory.
But in practice, if I am willing to pay say, $25,000.- as a top price—I would of course also be prepared to pay $25,500.- I mean what's 500 bucks right?
So finding that top limit is practically speaking almost impossible.
It reminds me of that old canard about Churchill and Lady Astor at a dinner party.
Churchill: My dear lady, would you sleep with me for one million pounds?
Lady Astor: ...why yes, Winston, I think I probably would.
Churchill: Excellent! But I don't have that much. How about 100 pounds?
Lady Astor: You despicable beast! What do you think I am?
Churchill: We've already established that. We're just quibbling about the price.