Adam West
Jun 21, '11, 4:18 PM
It has been on for a couple of years and is similar to Storage Wars except it only follows two individuals who bid on units watching them win units and sell the items they find. I actually like the show because they do give tips on how to bid on live auctions and things to look for if you do decide to jump into the business. They also said they are only showing their big scores and they follow the 80/20 rule....80% of the units they buy they lose money but the 20% more than makes it worth their time.
They will try to size the competition up from the get go to know who they are competing against. They set a top limit on what they will spend and will never get emotional and go a penny over their top limit. If there are a lot of bidders, they will let them all fight it out and jump in once they're done.
They use different tactics...some work some don't. One I have never tried but could see it working is jumping the bid to let the competition know you are serious. As an example, if you are willing to pay $500 for something and the bidding is going $50/$60, they'll jump in and raise to $250 immediately in an effort to discourage bidders to go further. Sometimes they act disinterested, avoid contact with their biggest competitors, or will sometimes move the bids very fast without hesitation or slow it down. It's all mind games and they change it based on watching how people bid and trying to size them up. I have heard people complain about the show but I do think it is educational. You never know when you might run across something that is of no interest to you but might be able to get it cheap and turn a nice profit on it. Chris (Antiquetiger) is an expert at this.
They will try to size the competition up from the get go to know who they are competing against. They set a top limit on what they will spend and will never get emotional and go a penny over their top limit. If there are a lot of bidders, they will let them all fight it out and jump in once they're done.
They use different tactics...some work some don't. One I have never tried but could see it working is jumping the bid to let the competition know you are serious. As an example, if you are willing to pay $500 for something and the bidding is going $50/$60, they'll jump in and raise to $250 immediately in an effort to discourage bidders to go further. Sometimes they act disinterested, avoid contact with their biggest competitors, or will sometimes move the bids very fast without hesitation or slow it down. It's all mind games and they change it based on watching how people bid and trying to size them up. I have heard people complain about the show but I do think it is educational. You never know when you might run across something that is of no interest to you but might be able to get it cheap and turn a nice profit on it. Chris (Antiquetiger) is an expert at this.