I've never been a betting or auction kind of guy but I completely understand this statement. 100%!
Getting Sucked Into an Auction?
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My sil and I use to buy storage units being auctioned off for non payments. We quit after about 6 months. Never really bought anything really worth our efforts. We figured we probably broke even selling the stuff afterwards at yard sales.
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Nope.
As a kid, I went to a lot of auctions with my dad. There was a weekly auction for livestock, home goods, farm equipment, just about anything you could think of near our home and we went to it a lot. Dad bought a lot of stuff, but he taught me to pick the top price you would pay and stick with it. Even if it went for a dollar more than your top price, so be it.
I never saw him get caught up in the bidding and I never have either.
As a kid, I went to a lot of auctions with my dad. There was a weekly auction for livestock, home goods, farm equipment, just about anything you could think of near our home and we went to it a lot. Dad bought a lot of stuff, but he taught me to pick the top price you would pay and stick with it. Even if it went for a dollar more than your top price, so be it.
I never saw him get caught up in the bidding and I never have either.
I will plead the fifth on the original question.
Quite possibly the best auction buy I have ever made was two years ago during the curling season. We were having a calcutta for a scotch doubles event and I started bidding on a team. I was bidding against one of the team members. I kept bidding. He kept looking around to figure out who kept outbidding him. I wound up with the high bid, they bought half back and then won the bonspiel. We split $2200 against a $700 investment. He was upset he didn't have his team 100%, but I wasn't going to let him have it for some reason. Worked out in my favor.
Quite possibly the best auction buy I have ever made was two years ago during the curling season. We were having a calcutta for a scotch doubles event and I started bidding on a team. I was bidding against one of the team members. I kept bidding. He kept looking around to figure out who kept outbidding him. I wound up with the high bid, they bought half back and then won the bonspiel. We split $2200 against a $700 investment. He was upset he didn't have his team 100%, but I wasn't going to let him have it for some reason. Worked out in my favor.