'Should've seen the look on [his] face when he realized I outsmarted him;' Vintage toy collector devises tag-team plan to defeat leeching bidder

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  • 01
    Organism - Posted by u/Mountainman1959 16 hours ago You know who I am? Long story. I am a collector of a specific type of vintage toy. I have a reputation as an expert on this particular type of item. And sometimes these items come up in auctions.
  • 02
    Font - I attended an auction and bid on one item but every time was outbid by someone behind me. Eventually, I opted out and let the mystery buyer take it (at above market value, mind you. I was prepared to overpay because I really wanted this item.) Turns out it was a known antique dealer, and his wife explained in a later conversation that "Joe" would watch me,
  • 03
    Font - knowing that I know the value and collectors such as me would generally want to pay less than market value, and just increase every time I placed a bid. Thus ensuring he always pay just under market value and still win the deal. So the gist is that if he is there, he would always outbid me and I would never win an auction. Also, not relevant, but the auctioneer and Joe are related.
  • 04
    Font - He is now sitting with the item he has no hope of selling at a profit, but that is not the revenge. A few months later another similar item came up, and I really wanted it. Knowing he was going to be there, I devised a plan.
  • 05
    Font - A Friend of my son, who lived with us at the time and calls me dad, played along and we agreed beforehand that I would pay up to $3000 for the said item. I know Joe would end up paying $3100 if I bid, so me and sons friend both registered for the auction. Item comes up and I bid up to $1000. Then I stop stating out loud that I am out. At that point, Joe places one more bid. Auctioneer tries to get me to place one more bid, but I know how Joe plays the game and refuse.
  • 06
    Font - As the hammer is about to fall, son's friend places a bid and claims dad 's birthday is coming up and he wants to buy it as a gift. Joe decided it is already past the fair value and he lets it go. Hammer falls at $1200 to son's friend. I immediately transfer the funds to him and he pays, and collects the item.
  • 07
    Font - He then walks up to me and says "Congrats on your birthday next week, Dad. Here's your gift." In a later conversation with Joe, he asked me why I stopped bidding and I confirmed that I wanted to keep sufficient funds to bid on another later item, and did not want to blow the budget.
  • 08
    Font - But that this item was easily worth three times what it was sold for. Should have seen the look on Joe's face when he realised I outsmarted him. Never had to go up against him in another auction again, but now if it happens I'll just get another friend to buy for me.
  • 09
    Font - OkeyDokey2344 16 hr. ago Well done but you also need to start bidding on absolute crap just to get Joe to buy it. 4657 Reply Share ●●
  • 10
    Font - Eyes_Snakes_Art +1 13 hr. ago There was a local flea market reseller on the Joe spectrum that would ho to the local Mart of Wal, and buy up all the Hot Wheels(maybe Matchbox) chase cars/short packs as they were being put out. Every time, he showed up EXACTLY when the boxes of stock were being put on the shelves.
  • 11
    Font - The stocker got fired for alerting him, and reseller got banned when he was caught not only cheating out other customers, but creasing/damaging any remaining rare stock that he couldn't afford that day. Absolute a of a man that was an asshole at his booth as well-a huge jerk to kids that wanted those cars, too, but didn't have the funds for the insane prices he was charging.
  • 12
    Font - night-otter +4.7 hr. ago There is a artist, A, that I collect. At the auctions local to me, where her works show up, there is another person who loves her work as well, K.
  • 13
    Font - We are earnest competitors, but love making a show of it. So we don't stomp and we don't go straight to our highest bid. The auctioneers love us, because we are so energetic, that following items for go for higher prices. Win for us, win for the auction, win for the artists!
  • 14
    Font - One year A is there. She brought multiple pieces. Her presence brought out other collectors. Many didn't know about K and I, that we knew the exact value of every piece that A produced. We spent the entire auction bidding her work up it's value, then letting other folks have them.
  • 15
    Font - K & I had collaborated and knew which pieces we wanted. Still did our bidding war, then let the one who wanted a piece have it at it's proper value. A always undervalued her art and we routinely paid at least twice A's value.
  • 16
    Font - A had been standing at the back of the room the entire time, in Awe. She had never seen any of her pieces be fought over before, nor bid up the prices they went for.
  • 17
    Font - A spoke to me later on. I said hold on and called K to come join us. We explained all the above. Admitted that we worked the crowd and colluded for the pieces we really wanted. Neither of us had deep pockets, else we would have taken every piece she brought or driven the prices even higher.
  • 18
    Font - A responded that all that said, meeting us explained why this event was her highest grossing event every year. Including events she attends. She thought this event was probably her highest grossing event ever, with us driving up all the prices of all her pieces.

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