what to bid on auctions

From: Mike and Cheryl (mleaton@netins.net)
Date: Sat Jun 22 2002 - 17:09:28 PDT


I have come across a 1952 M38a1 currently owned by a small
Fire Dept. It is for sale on a sealed bid. Unit is Red with clean body
(no rust), 50 gallon tank in back mounted nicely with 4-3/8 inch holes,
has water pump on engine with electric clutch. Engine rebuilt, radiator
full of holes, tires poor, rear has not been cut, has m-series distributor
but is 12 volt, M38 carburetor (new), lights have been changed from military
to civilian, no spare carrier, no top, original front seats, 60,000 miles
on speedometer, footman loops around back are gone, wish I had some
pictures. I am thinking $800 to $1000, but I'm cheap and this is Iowa.
I was wondering how you figure a bid price. I know if I put in $800 bid
I would get beat buy a $801 or $800.25. Does anyone have a good method
of figuring how far to exceed an even number say $857 or how do you decide?
Do you just bid top dollar or do you go the little extra? I've only bought
stuff by
negotiating a deal or live bidding against someone. Sounds a little stupid,
but
I thought someone may have a good theory for me and I am always open to
suggestions.

Mike in Iowa
mleaton@netins.net



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