Auction process help?

Question

Im going to an state run unclaimed auction (on coins, stamps, watches...), if the reserve says 250 dollars, should the price go for much more than that? Or is that what it should stay around(give or take 100 or so?

Answer 1

you need to be very careful when you go to auctions because it is very easy to get carried away with all the excitement.A  reserve price does not mean that is the price that an item will sell for, it simply means the is the price that the seller will be happy to part with the item. Now if there is another buyer who really likes the item and is willing to pay a lot of money for, the the price will really skyrocket. The best thing to do is set a limit for yourself, know what you can afford and stick with it, if it goes higher than your limit, do not get into a bidding frenzy.

keep your cool and don't lose your shirt.

Good luck