Have you ever bid to protect your cards?

Have you ever bid to protect your cards?

Joined: January 27th, 2006, 3:50 am

April 29th, 2009, 11:58 pm #1

I just placed a bid (in one of the current auctions) on a card similar to a card I currently own. I did this because it is currently too cheap and I would be delighted to own another at its current price. How many times do you find yourself bidding in an auction to protect a card you own? By the way, I did not do this to run up the price, rather to own another and cost average my investment. If I don't end up with it, then I guess I helped myself anyway.
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Joined: July 27th, 2006, 4:14 am

April 30th, 2009, 12:00 am #2

never have done it. Questionable ethics at best when we try to influence the market price this way.

Kmac
Last edited by kmac32 on April 30th, 2009, 12:01 am, edited 1 time in total.
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Joined: October 19th, 2004, 12:02 am

April 30th, 2009, 12:02 am #3

I just placed a bid (in one of the current auctions) on a card similar to a card I currently own. I did this because it is currently too cheap and I would be delighted to own another at its current price. How many times do you find yourself bidding in an auction to protect a card you own? By the way, I did not do this to run up the price, rather to own another and cost average my investment. If I don't end up with it, then I guess I helped myself anyway.
What is the ethical issue, as long as you pay the bill if you happen to win it? Many collectors go after duplicates for trade bait.
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Joined: September 4th, 2007, 1:25 am

April 30th, 2009, 12:02 am #4

I just placed a bid (in one of the current auctions) on a card similar to a card I currently own. I did this because it is currently too cheap and I would be delighted to own another at its current price. How many times do you find yourself bidding in an auction to protect a card you own? By the way, I did not do this to run up the price, rather to own another and cost average my investment. If I don't end up with it, then I guess I helped myself anyway.
It sounds like you didn't do so in your case, but bidding on another instance of a card with no intent of owning it for the sole purpose of pushing up the sale price, smacks of shill bidding. The difference between the two is that instead of taking the profits from the current sale, you'll get the profits when you sell yours.
I'm sure it happens all the time and many have no issue with it, but it always smelled funny to me.





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Joined: January 27th, 2006, 3:50 am

April 30th, 2009, 12:02 am #5

I just placed a bid (in one of the current auctions) on a card similar to a card I currently own. I did this because it is currently too cheap and I would be delighted to own another at its current price. How many times do you find yourself bidding in an auction to protect a card you own? By the way, I did not do this to run up the price, rather to own another and cost average my investment. If I don't end up with it, then I guess I helped myself anyway.
I mentioned that I would like to own it at its current price, so why can't I bid like everyone else, free of guilt?
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Joined: September 4th, 2007, 1:25 am

April 30th, 2009, 12:04 am #6

I just placed a bid (in one of the current auctions) on a card similar to a card I currently own. I did this because it is currently too cheap and I would be delighted to own another at its current price. How many times do you find yourself bidding in an auction to protect a card you own? By the way, I did not do this to run up the price, rather to own another and cost average my investment. If I don't end up with it, then I guess I helped myself anyway.
Dan - I think your thread title is what's causing the confusion - you're bidding to own AND to protect; I think the questionable ethics part is when you're only purpose is to protect.





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Joined: December 23rd, 2008, 4:03 pm

April 30th, 2009, 12:04 am #7

I just placed a bid (in one of the current auctions) on a card similar to a card I currently own. I did this because it is currently too cheap and I would be delighted to own another at its current price. How many times do you find yourself bidding in an auction to protect a card you own? By the way, I did not do this to run up the price, rather to own another and cost average my investment. If I don't end up with it, then I guess I helped myself anyway.
If you don't bid on your own card I do not see anything unetical about it, I don't see why you should not be able to own more than one specific card.
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Joined: October 30th, 2003, 9:02 pm

April 30th, 2009, 12:05 am #8

I just placed a bid (in one of the current auctions) on a card similar to a card I currently own. I did this because it is currently too cheap and I would be delighted to own another at its current price. How many times do you find yourself bidding in an auction to protect a card you own? By the way, I did not do this to run up the price, rather to own another and cost average my investment. If I don't end up with it, then I guess I helped myself anyway.
Dan, this is a hilarious thread, truly. The more significant question to ask is: have you ever bid on your own cards to protect your cards?
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Joined: October 19th, 2004, 12:02 am

April 30th, 2009, 12:08 am #9

I just placed a bid (in one of the current auctions) on a card similar to a card I currently own. I did this because it is currently too cheap and I would be delighted to own another at its current price. How many times do you find yourself bidding in an auction to protect a card you own? By the way, I did not do this to run up the price, rather to own another and cost average my investment. If I don't end up with it, then I guess I helped myself anyway.
I think the issue is if you bid on a card you don't need just to keep the price up, and of course we assume you don't own it, then how does it differ than if you bid on a card you do need? In either case you either win it and pay the bill, or get topped by somebody else and drop out.

If you think the card is worth say $1000 and it's currently sitting at half that, why wouldn't you bid?
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Joined: January 27th, 2006, 3:50 am

April 30th, 2009, 12:11 am #10

I just placed a bid (in one of the current auctions) on a card similar to a card I currently own. I did this because it is currently too cheap and I would be delighted to own another at its current price. How many times do you find yourself bidding in an auction to protect a card you own? By the way, I did not do this to run up the price, rather to own another and cost average my investment. If I don't end up with it, then I guess I helped myself anyway.
Matt- You are absolutely correct, although I think it is samantics. The answer is - I think I bid for both reasons. I wanted to make sure if the card sold for X, that it would be mine. I don't think that I was trying to run up the price as much as I wanted another at 1/2 the price as my last one.
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