Another pertinent question that follows yesterday is…
"does one use a gut feeling, respond to the rush or just pick a figure and hope:
The gut feeling you will use for all the decisions we discuss today. Responding to the rush is another decision right ?? Do you want the whistle so much that you would be willing to pay more than what you feel it is worth and indeed above the current 'market price' – can you live with that feeling ( often called buyer’s remorse ) afterwards ?? Indeed auctions have a special chemistry that can go south on you in a hurry !!! ( Or do you say down under that things can go north ?? )
Picking a figure is the most important thing if you decide to fish in these fishing holes. You have total control that way and are not persuaded to overspend. Does your wife agree with your budget, is it free cash or needed for other things ?? If the hobby becomes more important can you shift directions and sell off other 'interests' and re use that money ??
I know you probably know all of this, but there is a tremendous amount of psychology involved in why people collect. One really needs to get to the root of THAT and then determine where to go with one’s life….or not….