How to Cure “Auction Fever” Before You Go Broke
The Most Expensive Dopamine Hit. “Auction Fever” is real. It’s the adrenaline rush of competition. You stop caring about the house value and start caring about beating that guy in the blue shirt. This is how you overpay. The “Walk Away” Number Before you log in, write a number on a sticky note. Stick it […]
The Most Expensive Dopamine Hit. “Auction Fever” is real. It’s the adrenaline rush of competition. You stop caring about the house value and start caring about beating that guy in the blue shirt. This is how you overpay. The “Walk Away” Number Before you log in, write a number on a sticky note. Stick it to your monitor. “MAX BID: 4.5M” This number is not a suggestion. It is a wall. If the bid goes to 4.51M, you are done. Close the laptop. The “Phone a Friend” If you know you are emotional, bring a designated “Brake Pedal.” Have your spouse or business partner sit next to you. Give them permission to physically stop you from raising the paddle if you cross the line. Winning Isn’t Paying the Most Winning is paying the right price.
