I think people here are being mordant for some reason. There's nothing to gloat about, guys. Yes he/she could have bid less and still won. But does it necessarily mean he/she overpaid? of course not. It may only mean everybody else way underbid. I won a property where I bid over 2nd by large amount. Do I feel bad about it? Yes I do. But I still think the property worth it. After spending a little more to fix it up, I am still getting a nice piece of property way under market value.
Jayz:
My comments were not directed at the value and validity of the bid but a tongue in cheek comment on the issue of buying the second place bid. As commented in the post following yours there are risks to buying the second place bid.
In one case where it was worth my while (I also have bid well above the second place bid) but it was worth it and as you mentioned the key is to get control of the property even if the winning bid was higher than necessary in hindsight.
Its like playing poker. A lot easier if you can see all the hands and the next cards from the deck. I am still looking for the township where I can look at the other bids before I submit mine, haven't found it yet. It would also help if I knew who was going to bid in advance.
Some of the SOB's who have cleaned my clock more often then I would like to admit including from this board are smart in a realistic way unlike poeple who overpay, so getting too greedy with a low price is risky.
I just hope your building turns out as good as mine did. I am finally going to be able to give some attention to those far north acreages and might even take a photo of the Moonbeam flying saucer if I have time for Franke. Maybe he can take a picture of his corvette that he got when he traded swampland for it so we can be jealous how well he mangages his wife.
