Sorry if this has been posted before,  if so please guide me in right direction... 

If I was to see a record for auction ie on manships , Tim browns, pat bradys auction pages,  Someone told me to be careful about what you bid as you will pay your bid price even if the price bid below yours is a lot lower. 

If anyone can clarify it would be appreciated 

Thanks in advance 

Mick

With Anglo American, your bid is what is put onto the system as the top bid.

I.e if the currrent bid is £100, you bid £150 it goes to £150.

JM's auction is similar to ebay with increments.

Not bid on Pat Bradys for a few years.

 

Edited September 26, 20222 yr by Spook

With manships auction you pay one increase above the price it is when you bid. 

Eg if its 100 and increasements are 10 pounds.

You bid 160 you are the highest bidder at 110, if someone bids 120 then you are highest bid at 130 . If someone bids 170 you are out

Thanks to you both, you have clarified what I needed to know 

Been decades since I left university but from what I remember the type of auction Anglo-American uses is called "scottish auction". Similar to "english auction" (your bid is your top bid, no increment) but with a set time-frame.

Anyone knows if the increment-type scottish auction (e.g. ebay) is defined by a certain name?

  On 27/09/2022 at 21:38, Benji said:

Been decades since I left university but from what I remember the type of auction Anglo-American uses is called "scottish auction". Similar to "english auction" (your bid is your top bid, no increment) but with a set time-frame.

Anyone knows if the increment-type scottish auction (e.g. ebay) is defined by a certain name?

a shake down? 🙂

the only ones that are totally transparent are Manships and Ebay where all can see, John can supply a print out of the bids 

  On 29/09/2022 at 09:13, Ted Massey said:

the only ones that are totally transparent are Manships and Ebay where all can see, John can supply a print out of the bids 

I don’t see how any internet auction can be classed as “totally transparent” unless the name of every bidder is visible to all.

Mr Manship’s auction has pseudonyms that could be anyone or no one, and we’ve all seen the shill bidding and other shenanigans that go on on eBay.

  On 29/09/2022 at 13:36, Quinvy said:

I don’t see how any internet auction can be classed as “totally transparent” unless the name of every bidder is visible to all.

Mr Manship’s auction has pseudonyms that could be anyone or no one, and we’ve all seen the shill bidding and other shenanigans that go on on eBay.

Still the best we have thou 

  On 29/09/2022 at 13:36, Quinvy said:

Mr Manship’s auction has pseudonyms that could be anyone or no one...

At least JM has some checks in place to make sure bidders and their sources of payment are genuine, and people are required to register before they can start bidding. On his site it states:

  Quote

Why is there a fee to join the auction?

We charge a small fee to join the auction to validate that all auction users are genuine.

Source: https://www.raresoulman.co.uk/auctionregistration/registration/

  On 29/09/2022 at 16:11, Amsterdam Russ said:

At least JM has some checks in place to make sure bidders and their sources of payment are genuine, and people are required to register before they can start bidding. On his site it states:

Source: https://www.raresoulman.co.uk/auctionregistration/registration/

I wasn’t implying there is anything untoward with any auction. Simply stating that no online auction is “totally transparent”

The only way this could be achieved, would be to have the bidders real names displayed for all to see.

At one time, you could see who was bidding on eBay, and you could see who was selling. You could even contact each other, without eBay getting involved. Now, you have no clue whether bids are real or false.

  On 01/10/2022 at 13:38, Quinvy said:

I wasn’t implying there is anything untoward with any auction. Simply stating that no online auction is “totally transparent”

No worries - I didn’t think you were implying anything. And agreed, online auctions aren’t 100% transparent. But then neither are those held in auction rooms and both telephone and sealed bids are allowed. Anonymity is an important factor. 
 

If I were bidding on a record auction, whether eBay, JM or anywhere else, I wouldn’t want the world knowing it was me, and thus what I’d bought and what I paid!