More to bid on or less?

[dereksbicycles]

Let's say that I decide to drop off a 1940 bike to be auctioned off. I'm excited!! I'm thinking I'm the only one with that bike so I'll get a lot of bids. Little did I know, you had the same idea. You already had dropped off a similar 1940 bike to be auctioned off. Is this good or bad?

You see, now there are 2 bikes, bidders can chose to bid on mine or yours so neither of us will get a lot of bids, right?

Or is 2 better than 1? You see, bidder may not bother with bidding on one, but may bid because there are 2. They may figure the more, the better. Therefore, my bike is helping your bike get a higher bid.

Then again, if I wanted to be a gambler, maybe I would bid higher and higher on your bike to jack up the price. That way, now your bike is of a high price, bidders may quit and decide to bid on mine. You know to make mine look more valuable.

I've always been curious about behaviors of bidders at auctions. Do bids get out of hands?

 

[VacationGuy234]

This is a good question. I would think this depends on how the auction is held, whether they announce two bikes or just one at a time. I think a smart auctioneer would sell the first for as much as possible and then the second. If a bidder knew there were two bikes he might hold back, but at some point he is going to want the bike.

You might want to look at this:
en.wikipedia.org/wiki/Generalized_second-price_auction

What are the rules at this particular auction?

 

[dereksbicycles]

That place is an online auction that is held at same time every week. So anyone can drop off any thing. Then online bids take place at same time every week.

 

[Stargazer Lilies]

If I were bidder, I would like to see a lot of photos of each bike, and more details information on each bike--year, manufacturer, etc...so I can decide which one is more worth to bid on.

If you can, looking around at various place to see if you can find similar bike to see how much it is worth.

Hope you get a lot of bids!