Buying/Collecting/Selling Civil War Artifacts - Profit vs Pleasure

If I may, concerning the use of auction firms to market Civil War collectibles, state that my experience with them has been very good. I used a well known firm to market a few items several years back and am completely satisfied with the results.
I met with the principal of the firm and let him choose the items I wanted to sell and he was very straightforward about what he believed would sell and what wouldn't. I released the items with no minimum bid requirements, in essence, gambling that I would make some profit--the transaction worked out well for me in the end.
I received an advance copy of the auction program and was pleasantly surprised with how the items were described and displayed in the slick promotional piece--thousands of items were up for bid and yet my items were well described as to content and condition. As a matter of fact, a large group of letters from a Union soldier were presented in such a professional manner, so well researched, it was obvious that someone from that auction house had, in a very short period of time, expertly produced a description that revealed the true essence of those letters and the soldier that wrote them. All of the items that I had submitted sold for well over twice the amount that I had paid and the letters went for six times my cost!
As I recall the fees for this sale were moderate and the transaction was very professional from start to finish and I felt the auction house was primarily responsible for maximizing my gain from these items. Thus, based on my positive experience, I would definitely recommend the use of professional auction firms but also would recommend that any seller do some research on those "houses" so as to choose vendor with some care. This was my only experience so I am certainly no expert but in my limited use of such firms, this was a winner.
Overall, I agree that it was a satisfactory experience and one I'd certainly recommend, with the reservations I noted in my thread. Eventually, they will probably receive more of my collection when I can no longer care for or display it.
 
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... I had a piece I just sold for $455 that I paid $15 for back in 1982 now thats a Return on Investment.
My best result was the James Conning Confederate foot officer's sword I mentioned earlier that I'd originally purchased in the 1980's from a dealer who should've known better for $350 which auctioned for $7000, of which I realized 80% or $5600.
 
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https://civilwartalk.com/threads/m-...r-co-contract-dated-1863.141398/#post-1713635

I created a separate thread on this Wm. Muir & Co. contract M.1861, my latest purchase, but will talk a little about its price here. I bought it also from Jackson Armory in Dallas where I'd recently bought a couple of Colt revolvers I described above. The price of this bears out what I had been told about the value of somewhat lesser pieces. This one was priced between $700-800 and when I asked "What's wrong with it?" was told only that it had been over-cleaned with rounded wood (missing a very small piece at he upper band). It had belonged to a late reenactor/collector and was part of his collection that had been disposed of by his son. It is in every way acceptable to me - and a lot better than a similar specimen they'd had a few years ago, priced similarly, that had a pieced stock!
 
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https://civilwartalk.com/threads/m-...r-co-contract-dated-1863.141398/#post-1713635

I created a separate thread on this Wm. Muir & Co. contract M.1861, my latest purchase, but will talk a little about its price here. I bought it also from Jackson Armory in Dallas where I'd recently bought a couple of Colt revolvers I described above. The price of this bears out what I had been told about the value of somewhat lesser pieces. This one was priced between $700-800 and when I asked "What's wrong with it?" was told only that it had been over-cleaned with rounded wood (missing a very small piece at he upper band). It had belonged to a late reenactor/collector and was part of his collection that had been disposed of by his son. It is in every way acceptable to me - and a lot better than a similar specimen they'd had a few years ago, priced similarly, that had a pieced stock!
Very nice acquisition, congratulations on a great find, particularly from a dealer, but that's what we are talking about on this thread, the lower end price on ACW artifacts.

The basic law of economics is supply and demand; there is plenty of supply, but the demand is dwindling due to numerous factors. I really thought the 150th would bring a resurgence, but alas it wasn't to be. ACW history not being taught in school is another. When I speak to my ACW dealer buddies, all of them talk about the greying of the ACW collecting community, in fact the incredible Kurtz collection was saved at auction by a collector from Australia, though many items went unsold and some are still at the Horse Soldier. Pieces of the Stamatelos Collection, are still available at the Horse Soldier, years after Jim's death.

The greying, is bringing out some very nice collections and I would imagine within the next 10 years you will see more and more very nice collections, being donated, for the write off instead of undervalued sale.

I have been lucky enough to amass a collection that I am very happy with and did it for the passion and not for profit, though I am always on the lookout for a piece that is undervalued to use to improve my collection by sale or trade.

A very good friend of mine and I used to justify our purchases, by saying it was better than playing the stock market, of course this was around 2007-2013, but now the trend is the opposite.

Many ACW dealers have stopped attending the various "big" shows, saying it's just not worth the time and expense. The Summer Richmond show, for example is half the size it used to be, while the Baltimore gun show is growing in size due to the allowing of WWII items.

Not trying to be negative, but want people to know what the trends really are, Ken Burns "Civil War" and Ron Maxwell's/Ted Turner's "Gettysburg" sparked a resurgence, but today's climate doesn't allow for ACW film success.
 
Not trying to be negative, but want people to know what the trends really are, Ken Burns "Civil War" and Ron Maxwell's/Ted Turner's "Gettysburg" sparked a resurgence, but today's climate doesn't allow for ACW film success. Package 4

I don't think you are being negative at all--accurate yes, negative no. You are right both media events did stimulate Civil War collectibles. Of course we didn't have a clue at the time that the market would go dormant after a few years--it looked awfully good for a bit. I still have a few items around--paper mostly and first editions, GAR stuff, etc. but I can hold on to them --- they will turn into fine "head scratchers " for my kids after I'm gone. They can try to figure out what to do with them.
 
Very nice acquisition, congratulations on a great find, particularly from a dealer, but that's what we are talking about on this thread, the lower end price on ACW artifacts.

The basic law of economics is supply and demand; there is plenty of supply, but the demand is dwindling due to numerous factors. I really thought the 150th would bring a resurgence, but alas it wasn't to be. ACW history not being taught in school is another. When I speak to my ACW dealer buddies, all of them talk about the greying of the ACW collecting community, in fact the incredible Kurtz collection was saved at auction by a collector from Australia, though many items went unsold and some are still at the Horse Soldier. Pieces of the Stamatelos Collection, are still available at the Horse Soldier, years after Jim's death.

The greying, is bringing out some very nice collections and I would imagine within the next 10 years you will see more and more very nice collections, being donated, for the write off instead of undervalued sale.

I have been lucky enough to amass a collection that I am very happy with and did it for the passion and not for profit, though I am always on the lookout for a piece that is undervalued to use to improve my collection by sale or trade.

A very good friend of mine and I used to justify our purchases, by saying it was better than playing the stock market, of course this was around 2007-2013, but now the trend is the opposite.

Many ACW dealers have stopped attending the various "big" shows, saying it's just not worth the time and expense. The Summer Richmond show, for example is half the size it used to be, while the Baltimore gun show is growing in size due to the allowing of WWII items.

Not trying to be negative, but want people to know what the trends really are, Ken Burns "Civil War" and Ron Maxwell's/Ted Turner's "Gettysburg" sparked a resurgence, but today's climate doesn't allow for ACW film success.

Thank you for this post, Package 4. This is a really disappointing and sobering view of the state of ACW collecting as it stands now, and also how it relates to things like movies, books, etc, though one of the best selling books right now is about General Grant, I think it's #2 on the New York Times list.

Sad to hear the market has been in such bad shape in recent years, what with show attendance being down and dealers saying it just isn't profitable anymore.

Perhaps these items will accrue value over time making them a better investment than stocks, hard to say.

From a personal collecting standpoint I am grateful the items are still relatively affordable, whether they increase in value or not.

From an investment point of view, has anyone done a comparison between a $100,000 investment in lets say an exchange traded fund [managed stock portfolio] and a well-curated collection of ACW antiques, over, let's say a 20 year period?

It would be interesting to compare the two.

The stock market has been known to take some pretty big hits. I remember a few years back my 401K was decimated by economic conditions that rendered all the previous gains made in previous 10 years a complete wash, the point being the stock market is no great investment vehicle, either, my guess is not much better or worse than ACW antiques. At least you can enjoy a nice antique collection!
 
Didn't someone, can't remember who, post a thread a few months ago about the values of books and art work related to the CW tanking? I think they said they were staying at an inn in Gettysburg and struck up a conversation with another man eating alone and that man said he had his retirement "under his bed." All original prints from a famous (contemporary) artist on the CW. The person writing the thread said he didn't have the heart to tell him just how much those prints have tanked.

My mother and sister collected things in the '80s with COA, etc. They would chase all around New England and the South (where my sister lives) adding to it. This is not CW stuff btw. They both put thousands into their different collections. If they had sold them at the time, they would have realized thousands. BUT.... they both held on to the idea that there was a never ending rise going on. By the time our mother died in 2001, the whole thing had tanked. We are talking pennies on the dollar. My sister particularly collected glassware from the late 1800s on. That had a speculative bubble too. She has literally given some away when she downsized. I let my mother twist my arm into buying a piece of artwork for 450.00 around 1989. I hated it but was assured by her and the dealer it was only going to go up. You should NEVER buy what you don't love (or only extremely rarely). I won't even disclose what it is because I'm so ashamed of it. I only looked at it once out of its wrapping from the dealer to make sure it was in one piece. I put it in the attic to get it away from me and await the huge financial rewards I was supposed to get when I get near retirement (now). I found the piece on Ebay a few years ago for $25.00 with NO bids.

The absolute cream of anything will most likely retain value. But that whole generation is gone or is going that put a great deal of value on that stuff - whether it be the cellar with woodworking equipment for men - made much smaller, more safety and energy features with modern stuff (I grew up in a lumber family so I always still look at equipment), easier to move or lug. Glassware, a lot of collectible art, Civil War books unless you have the rarest of rare first editions with authenticated autographs from Grant, Lee, Stuart (hard to come by), have all gone down by 50% at least.

Having said this. There was a piece of artwork my mother did buy for 10.00 at a yard sale at least 20-years-ago. She didn't like it but saw something of value in it. I was lucky enough to win a ticket for Antique Road Show in Boston. I took it and it is valued conservatively at 7K and she had picked up the a couple of others that had great value. But she didn't find them at dealers. The stuff from dealers literally became a boat anchor around my sister and my neck after our mom died.
 
That profit margin is to the auction house mostly. They exist on sellers fees and buyers premium. Buying low and selling high is the general rule for all classes of capitalism.
Making a business of selling genuine artifacts that have personal history is somewhat degrading to the participants of the actual events especially if family is still living.
I suggest that you manufacture facsimiles of treasured articles for sale to interested persons as placeholders in their collections until genuine articles are secured.
Speaking of genuine articles, they do become available after being 'filtered' through the ages as family becomes lost or disinterested in what they consider 'unknown heirlooms' or 'attic junk', the buying from a seller in this case is sporadic to say the least but less impacting on the moral issues.
By all means, if having obtained a genuine piece, effort should be made to locate descendants and at least let them know their family history.
After all, that is a part of Civilwartalk.

Mitsubushi Motors and Chrysler built a joint venture assembly plant here in Bloomington. We employed U.S. citizens 3,000 people and also about 800 Japanese technicians. These technicians usually stayed for 6 months and were rotated back to Japan as a new crew came in. Sort of a training facility for Japanese auto industry management in Japan.
A man in my Group, one day brought to work a Japanese silk flag that his mother had at home. It was taken from a dead soldier by her father on some island in the Pacific. It was beautiful, written on front and back in characters I assume was Japanese. This lad told me he was going to have “one of the japs tell him what it said”. I could see he had no compassion about the War nor about the feelings of the Japanese people we were working with.
I asked him not to do so and told him the flag was a religious article signed by the soldier’s family and was very much a personnel thing. To flaunt it in the face of these people would only generate bad feelings, especially if he showed it to a family member.
I don’t know what he did after that. I hope he followed my suggestion to forget about it and take it back home.
Like this chap, www.youtube.com/watch?v=LbLUZVxbDEQ US Vet Returns Japan Flag to Soldier's Family
 
It bothers me a bit that this discussion seems to equate market value and historical value. The market value will shift due to time and circumstance. The same item might have a radically different price at a show in Texas or a show in Virginia or an auction in New York. Its price may be radically different in 2018 than it was in 1963. The historical value will be determined by the item. Among my most prized artifacts is a very bad condition holster that I found next to the dumpster at a building that had been a hospital after both Manassas battles. To the guy renovating the building it was trash. To me it is priceless. I've stopped showing it off because every time I show it someone will ask me "What's something like this worth?"
 
. . . Buying low and selling high is the general rule for all classes of capitalism.
Making a business of selling genuine artifacts that have personal history is somewhat degrading to the participants of the actual events especially if family is still living.

I dont buy/sale much Civil War artifacts but I would like to sale some WW2 militaria. It seems like the market for antiques has dropped off. Now that Im retired, I hope to move dome of my collection.

No one has mentioned on-line sales such as eBay. I used to enjoy eBay but now I cant seem to sell anything on their site.

@JAGwinn seems to we shouldnt be in the business to make a profit on any militaria. There are times that selling items will ensure the item will be preserved with proper honor. However, the monet-grabbers will do anything for a profit. Usually, they will break up a collection to increase their sales. While searching eBay for letters or a collection of photos of a veteran, you will find the Seller has broken up the collection. Eack Buyer may get a chance to own a piece of history but it turns out no one ends upbwith the complete story. So sad.
 
As others have said, some auction houses definitely earn their money. And if you found the item you are selling in the ground, or you bought it from an uninformed source, or you just got lucky, you can still make a profit doing business that way.

I once bought a watch for $900 from a professional dealer at an NAWCC National Convention in Atlanta many years ago, and I sold it to another collector for $11,500 a few years later when I wanted the money for something else. But here is the catch: the watch was an extremely rare, obscure variety of E. Howard & Company pocket watch. All Howard watches are valuable, which is why the dealer asked and I paid his price of $900 for a watch in a 9K gold case. The dealer knew he had a Howard - that was obvious - but he didn't know it was a rarity among Howards, because it was so rare that it wasn't even listed in the widely available price guides. I understood what the watch was the moment I saw it, because I literally "wrote the book" on Howard watches. By virtue of my publications, I am the recognized leading world authority on early Howard watches, a position earned through countless hours of effort and considerable financial investment. Again, I was able to snag that bargain from a professional dealer because I knew more about what he was selling than he did. It also helped immeasurably that I can sell a watch for five figures with a phone call or two, because of my position in that collecting community. I haven't needed auction houses to resell my watches for me, and the people who compile the price guide seek my input. I've been able to snag great bargains from under professional dealers' noses too many times to mention here. (That doesn't always happen, of course. Often, I have just wanted something and paid the freight.)

Bottom Line: Become a genuine expert on what you collect.
 
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It bothers me a bit that this discussion seems to equate market value and historical value. The market value will shift due to time and circumstance. The same item might have a radically different price at a show in Texas or a show in Virginia or an auction in New York. Its price may be radically different in 2018 than it was in 1963. The historical value will be determined by the item. Among my most prized artifacts is a very bad condition holster that I found next to the dumpster at a building that had been a hospital after both Manassas battles. To the guy renovating the building it was trash. To me it is priceless. I've stopped showing it off because every time I show it someone will ask me "What's something like this worth?"

I don't think this discussion equates market value with historical value, but I do think it is a point worthy of making nonetheless. There are three values of any given item. Its actual historical value, then separate from that is its market value, and then there is its personal value, which is different for every person.

In many ways I find these artifacts [personally] priceless in value. They were utilized under circumstances that changed our nation. Their value cannot really be set in dollar amounts in an historical context, but they are also monetarily valuated as any item would be in order to buy/resell it.
 
I dont buy/sale much Civil War artifacts but I would like to sale some WW2 militaria. It seems like the market for antiques has dropped off. Now that Im retired, I hope to move dome of my collection.

No one has mentioned on-line sales such as eBay. I used to enjoy eBay but now I cant seem to sell anything on their site.

@JAGwinn seems to we shouldnt be in the business to make a profit on any militaria. There are times that selling items will ensure the item will be preserved with proper honor. However, the monet-grabbers will do anything for a profit. Usually, they will break up a collection to increase their sales. While searching eBay for letters or a collection of photos of a veteran, you will find the Seller has broken up the collection. Eack Buyer may get a chance to own a piece of history but it turns out no one ends upbwith the complete story. So sad.

DixieRifles, I have not been doing this long enough to speak with any amount of authority. I've cruised EBAY in recent weeks on ACW items and the problem I see is its tough to authenticate anything. I will say that business seems to be brisk in terms of ACW paper goods like CDV photos and such, I'm seeing identifiable tintypes [identified people in the photos such as soldiers] being bid on by 10-15 bidders and final sales of around $200 for a single photo, which is quite a lot higher than the guide prices, even considering the guide prices are very outdated, still, this indicates the demand is still there and the prices have gone up over the past 20 years if the guides are any indication.

CDV's often start at $12-$15 and no takers and in one week the high bids are in the $100's.

The real kicker is everyone using the sniper auction software so you can't see any bids till the auction closes and of course you'll be outbid unless you gamble a much higher bid. I stopped bidding on items on EBAY because of that. I'm also seeing worthless junk being bid on. I saw a few bugles that said 'Civil War' era on there and researched them and they are Pakistani junk worth $10 being sold for $100-$300. Pretty tough to find a deal on EBAY, I would think, far too many collectors who understand what the valuations are, and sellers who know what they have. I suppose it's possible someone would be liquidating an estate on EBAY and not have stuff properly valuated [appraised] but tax laws being what they are I believe most estates and their contents are appraised carefully before being liquidated, so most folks know what they have.
 
It bothers me a bit that this discussion seems to equate market value and historical value. The market value will shift due to time and circumstance. The same item might have a radically different price at a show in Texas or a show in Virginia or an auction in New York. Its price may be radically different in 2018 than it was in 1963. The historical value will be determined by the item. Among my most prized artifacts is a very bad condition holster that I found next to the dumpster at a building that had been a hospital after both Manassas battles. To the guy renovating the building it was trash. To me it is priceless. I've stopped showing it off because every time I show it someone will ask me "What's something like this worth?"

As a watch collector, the statement I hate much more than "What is it worth?" is, "I have one just like that, that I got from my grandpa." To an uninformed person, nearly all old watches look alike, which is why I never show my watches to casual viewers who know nothing about watches (unless, of course, they are Civil War artifacts that I am showing to Civil War buffs, in which case the details of the watch are not really the point.)

It is very true that historical value and market value may differ greatly, but I have found that in the long run, historical significance is the most reliable indicator of lasting market value. Of course, the caveat is that as J. M. Keynes once wrote, "In the long run, we are all dead." :smile: So we are back again to that one good reason to own an antique: You like it more than the money you could get for it.
 
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The statement I hate much more than "What is it worth?" is, "I have one just like that, that I got from my grandpa." To an uninformed person, neatly all old watches look alike, which is why I never show my watches to persons who know nothing about watches (unless, of course, they are Civil War artifacts that I am showing to Civil War buffs, in which case the details of the watch are not really the point.)

It is very true that historical value and market value may differ greatly, but I have found that in the long run, historical significance is the most reliable indicator of lasting market value. Of course, the caveat is that as J. M. Keynes once wrote, "In the long run, we are all dead." :smile:

Yes, that quote from J.M. Keynes pretty much sums it up. :smile:
 
@JAGwinn seems to we shouldnt be in the business to make a profit on any militaria. There are times that selling items will ensure the item will be preserved with proper honor. However, the monet-grabbers will do anything for a profit. Usually, they will break up a collection to increase their sales. While searching eBay for letters or a collection of photos of a veteran, you will find the Seller has broken up the collection. Eack Buyer may get a chance to own a piece of history but it turns out no one ends upbwith the complete story. So sad.
Actually when it comes to letters, a "collection" if it is significant in terms of content and historical significance (famed regiments and/or battle descriptions) will sell better than the individual letters sold piecemeal. At least in my rather short and limited experience.
 
DixieRifles, I have not been doing this long enough to speak with any amount of authority. I've cruised EBAY in recent weeks on ACW items and the problem I see is its tough to authenticate anything. I will say that business seems to be brisk in terms of ACW paper goods like CDV photos and such, I'm seeing identifiable tintypes [identified people in the photos such as soldiers] being bid on by 10-15 bidders and final sales of around $200 for a single photo, which is quite a lot higher than the guide prices, even considering the guide prices are very outdated, still, this indicates the demand is still there and the prices have gone up over the past 20 years if the guides are any indication.

CDV's often start at $12-$15 and no takers and in one week the high bids are in the $100's.

The real kicker is everyone using the sniper auction software so you can't see any bids till the auction closes and of course you'll be outbid unless you gamble a much higher bid. I stopped bidding on items on EBAY because of that. I'm also seeing worthless junk being bid on. I saw a few bugles that said 'Civil War' era on there and researched them and they are Pakistani junk worth $10 being sold for $100-$300. Pretty tough to find a deal on EBAY, I would think, far too many collectors who understand what the valuations are, and sellers who know what they have. I suppose it's possible someone would be liquidating an estate on EBAY and not have stuff properly valuated [appraised] but tax laws being what they are I believe most estates and their contents are appraised carefully before being liquidated, so most folks know what they have.

I have bought and sold both watches (though mostly wrist watches, not pocket watches) and coins on Ebay. However, I find that at least as far as watches are concerned, at least half of the listings contain some element of fraud, and I am being generous. I only buy coins that are sealed in holders from one of two highly regarded third party grading services - PCGS and NGC. As a non-expert in the numismatic world, I consider it just too risky to buy coins any other way. (Warning: Counterfeit PCGS holders have been spotted now!) What I have said elsewhere on this thread applies doubly on Ebay: Endeavor to know at least as much about the things you buy and sell as the people you buy and sell with. (I am not there myself with coins, only with watches, but the PCGS holders and the auction data on the PCGS website help a lot.) And of course, it always helps to know the seller personally.

As far as sniping is concerned, that's what I do on Ebay. I didn't make Ebay's rules, but given their rules, it is foolish to bid any other way. If you don't, you are giving too much information away to your competition unnecessarily, and that will cost you both money and lost purchasing opportunities. That's because every time you bid, you are offering all your competitors a free and very sincere, if anonymous, appraisal of the item up for bid. So if another bidder knows that you are willing to pay $100 for something, he/she is more likely to decide that the item may even be worth $105.
 
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That's because every time you bid, you are offering all your competitors a free and very sincere, if anonymous, appraisal of the item up for bid. So if another bidder knows that you are willing to pay $100 for something, he/she is more likely to decide that the item may even be worth $105.

In the old days, it was possible to see the User Name of those bidding against you. You could also see how many times he raised his bid. Then you go look at his History and see what items he bought and the prices---which helped you judge if he had money to soend or if he was if he was raising the bid $1 at each bid.
NOW, I cant see any of that. So I cant figure how you "see" this info on other bidders.
 
That's because every time you bid, you are offering all your competitors a free and very sincere, if anonymous, appraisal of the item up for bid. So if another bidder knows that you are willing to pay $100 for something, he/she is more likely to decide that the item may even be worth $105.

In the old days, it was possible to see the User Name of those bidding against you. You could also see how many times he raised his bid. Then you go look at his History and see what items he bought and the prices---which helped you judge if he had money to soend or if he was if he was raising the bid $1 at each bid.
NOW, I cant see any of that. So I cant figure how you "see" this info on other bidders.
 
In the old days, it was possible to see the User Name of those bidding against you. You could also see how many times he raised his bid. Then you go look at his History and see what items he bought and the prices---which helped you judge if he had money to soend or if he was if he was raising the bid $1 at each bid.
NOW, I cant see any of that. So I cant figure how you "see" this info on other bidders.

Suppose you decide that your max bid for an item is going to be $100 and you commit to that early by sending it to Ebay. So now let's say that at some point during the auction, the current high bid is $75 and you are the high bidder. That means that all other bidders who are interested in the same item all know that at least one other bidder thinks the item is worth at least $75. Well, maybe one of them who didn't think the item was worth that much before, reevaluates because someone, you, have given him a free lower-bound appraisal. So he decides to give it a kick and bid $80, to see what happens. Surprise, surprise, he was outbid. Now everyone knows that at least one other bidder thinks the item is worth $81 (or whatever the next increment beyond $80 is), and so it goes. If you do end up winning the item, it will only be because no one else, with all the time in the world to think it over, was willing to match your max price, pretty much knowing what your max price was (or at least, having a reasonable lower bound on it). Showing your hand early is a buy-high strategy.

Now let's say you only bid $70 early and waited until the closing seconds to place your real max bid of $100. And suppose now the high bidder, who is not you, has a max bid of $90, but Ebay is showing a current high bid of $75. If he doesn't know that someone else is willing to bid $100 for the item, he may be complacent and let his max bid of $90 stand and lose the auction to you, for $91, in the final seconds. Alternatively, if you were the high bidder at $91 going into the final seconds of the auction, your opponent might get carried away with the excitement of the closing seconds and decide to bite the bullet and up his max bid by $15 just before time runs out. So he ends up paying $11 more for the item than he had planned, but HE gets it. Even if he only ups his max bid by $5, you may still win the item, but you paid $5 more for it because you showed your cards too early.

This is not just a theory. I have been on both sides of actual scenarios like this more than once! I have seen the prices of watches climb by thousands of dollars in the closing second of an Ebay auction. Bottom Line: If you identify your max bid early, you are needlessly giving away information that might well change the behavior of the opposing bidders adversely for you. That's a fact. There is NO advantage to revealing your thinking earlier than you need to. People don't snipe on Ebay just to be nasty and spiteful. There is compelling logic behind it, so you should expect it.
 
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