Play the cool hand
I’ve got a new purpose in life. For a couple of glorious weeks now I have been virtually absorbed by art auctions. For real, they’re the most wonderful things ever. I don’t even have to buy anything every time, I just love to check out what kind of auctions they’ve got going at my favorite auction house or on any of the premiere websites. Sometimes the act of buying an item by means of an auction is kind of like gambling. Like if there is this thing you’re just dying to snag and there is a whole bunch of people bidding on the item as well then you’ve got to think strategic. You can’t just put down your final bid, the maximum amount you’re willing to pay, at once when auction just opened. No, you’ve got to play the cool hand taking it and place a moderate test bid. Then the other serious punters will reveal themselves. That is the ones who are not as cool a hand as you are but if it’s a desirable item up for sale there is bound to be a couple of those around as well. I generally wait until the auctions is about to run out and try to take the current leading bidder by surprise.
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