next time

justsnipe.com

works like a champ.
Don't use it if you are bidding on my stuff :-)

John Babyak <[log in to unmask]> wrote:
Take a look at the bidding that transpired a short while ago...a lesson in what NOT to do in an auction... 
 
That was me that was Bidder #19 @ $3300...so I showed my hand (prematurely)...and where did it get me?  I know I'm not going to win...we passed my true max. bid days ago... but it was fun to cause the auction to move higher artificially...it means nothing!!  Pure silliness IMHO. 
 
Again, this auction is inherently ruled by raw emotion (and probably pride!)...there's another desperate buyer willing to show his hand early.  I've got no doubt that this auction will result in someone paying between $7k-$10k for that last chair...for someone out there, money is absolutely of no concern!!  And my advice for that one person -- they should simply snipe at the end of the auction by putting in a ridiculous bid (well over $10k) to ensure they win!  For MRG's sake, hopefully there's two or three people out there who will put super high bids in, in which case it wouldn't be inconceivable that the ultimately winning bid could be well in excess of $10k. 
 
I'd be willing to bet that whatever the leading bid is with one minute to go, tack on another 10%-20% to arrive at the ultimate winning bid.  A fascinating process...word to the wise--never buy anything at auction (especially stocks or bonds) in this manner...you'll be taken to the cleaner!!!
  
John M. Babyak
President / CEO
WOLVERINE INVESTMENTS
200 Pequot Avenue, 2nd Floor
Southport, CT 06890
1-800-398-0038
www.wolverineinvest.com
 
-----Original Message-----
From: John Babyak [mailto:[log in to unmask]]
Sent: Tuesday, April 10, 2007 01:57 PM
To: [log in to unmask]
Subject: Re: [SKIVT-L] MRG Last Chair

To quote an ancient bestselling book on market psychology...what we are witnessing is nothing less than "popular delusion and the MADness of crowds"...no pun intended.  Fascinating to behold, for sure...
Obviously, this is GREAT for MRG...and I'm happy they're going to get top dollar for the last chair.  But as anyone who regular works in the auction markets (ie., stock, option or futures market) knows, the most important and only relavant moment in the bidding process is the final few seconds.     
Otherwise, all you are seeing is raw emotion displayed for all to see in via an irrational buying decision.
John B.
John M. Babyak
President / CEO
WOLVERINE INVESTMENTS
200 Pequot Avenue, 2nd Floor
Southport, CT 06890
1-800-398-0038
www.wolverineinvest.com

>-----Original Message-----
>From: Marc Chrusch [mailto:[log in to unmask]]
>Sent: Tuesday, April 10, 2007 01:40 PM
>To: [log in to unmask]
>Subject: [SKIVT-L] MRG Last Chair
>
>Anyone notice that the current bid for the last remaining single
>chair is up to $3150 with a little less than 4 days remaining in the
>auction? Think it will go to $5K?
>
>http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=260104517809
>
>But is Bidder 18 bidding against him/her self? (View the bidding history)
>
>-marc
>
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