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Heritage Nov auction

Started by jkrk,

15 posts in this topic

jkrk

jkrk

Posted
Posted

Has the bump already occurred for the Nov auction or I am just not aware of the price level of Golden age comics. In the past year or so I would have a list of 15 comics or so that I was interested in going into the day of the auction. I am at my limit now on just about every book I have an interest in. If the auction is very strong I will be offering books at "bargain prices" on E-Bay. Time will tell.

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sfilosa

sfilosa

Posted
Posted

The Bump just occurred on at least some Golden-Age.

 

It's usually easy to tell. You are winning a book for $350.00 and then you get outbid and see that the current price is $1,000.00.

 

Some of the Bumps are off the wall. I was interested in a few Pre-Code books but now there at 1.5 times guide and only in VF+ condition. I'll be very surprised if they sell.

 

Oh well, time to look for a few second choices.

 

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murph0

murph0

Posted
Posted

Wow, did it ever. So much for bidding on that restored copy of Strange Tales 101. 900 dollars for a 9.0 with restoration, good luck with that. Considering the next closest bid was 120 dollars! Some major wishful thinking going on in some of those auctions..

 

Brian

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goldust40

goldust40

Posted
Posted

Interesting thing about this bump business. It all does seem a bit blatant. Is everyone aware (and resigned) to this? Is it simply accepted by all and sundry as part of the process? If you consider the situation for a moment, you'd have to say that there seems to be a very large bubble, and it's got to burst, sooner rather than later........................... frown.gif

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sfilosa

sfilosa

Posted
Posted

As we have discussed before, the real problem with the BUMP is that those who do not read the FINE PRINT, will believe that some other BIDDER has actually bid that high.

 

It is in Heritage's fine print, that shortly before the auction deadline, they will increase the Bid to one increment below the Reserve Price.

 

This is one reason I bid early (but low). This way it is easier to see how much of a BUMP occurred.

 

 

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goldust40

goldust40

Posted
Posted

Correction. It's all about DISCLOSURE, and GRAVITAS. If Heritage simply put in RESERVES and made it perfectly clear that ALL their auctions were subject to this, then it'd be the same. Besides we are talking about an auction company, who have set themselves up as distinguished leaders in their field, not an anonymous individual with options to chop and change matters at will. I'm not saying that what they're doing is totally wrong, just unnecessary - and it does undermine what auctions are all about. THAT IS, SELLING TO THE HIGHEST BIDDER, WHEN SAID BIDDER IS AWARE THAT HE IS ONLY BIDDING AGAINST OTHER BIDDERS, REGARDLESS OF THERE BEING A RESERVE OR NOT. PERIOD!!!!!!!!!!!!!!!!!! sign-rantpost.gif

 

 

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CosmicBob

CosmicBob

Posted
Posted
Correction. It's all about DISCLOSURE, and GRAVITAS. If Heritage simply put in RESERVES and made it perfectly clear that ALL their auctions were subject to this, then it'd be the same. Besides we are talking about an auction company, who have set themselves up as distinguished leaders in their field, not an anonymous individual with options to chop and change matters at will. I'm not saying that what they're doing is totally wrong, just unnecessary - and it does undermine what auctions are all about. THAT IS, SELLING TO THE HIGHEST BIDDER, WHEN SAID BIDDER IS AWARE THAT HE IS ONLY BIDDING AGAINST OTHER BIDDERS, REGARDLESS OF THERE BEING A RESERVE OR NOT. PERIOD!!!!!!!!!!!!!!!!!! sign-rantpost.gif

 

 

I've sold exactly one thing on Heritage and the bump was exactly one bid under the reserve price that was put on the item. So the result was identical to calling it a reserve price.

 

I don't know why they just don't say, "here is the Reserve on this lot", it would certainly be a lot clearer than this bump that get done. And discussed all the time.

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Darthdiesel

Darthdiesel

Posted
Posted

Bidding psychology...openly disclosing a reserve tends to ward off bidders. starting an auciton off without a reserve and at a starting price of a penny, you get the benefit of thrill bids and other interested parties who think that this auction will be overlooked in the grand scheme of things and they may actually end up with a steal, especially if they are not familiar with the Heritage bump...little do they know this is one of the lots where the consignor has strict instructions that it not sell less than a specified price...

 

however, as can be attested to by several forum members on here, some of these auctions do go for steals and they are able to flip them on ebay for much more than the Heritage sale price with 15% juice attached. It's like playing the lottery, for the most part they don't overlook High grade SIlver and Golden Age or keys...what they do overlook is highgrade modern, like ASM CGC 9.6/9.8s in the late 200's selling for $15 - $30...not a bad deal...

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seank

seank

Posted
Posted
I'm down looking in the garbage for scraps.

 

There's lots of great deals in the Heritage scraps. That's where I usually do my shopping. Six months ago I got a beautiful Shock Suspenstories 16 (Wally Wood KKK cover) in Fine+ for UNDER guide. A few weeks ago I picke dup two very nice jumbo comics (F and F/VF), again for under guide. Even with the Heritage vig, I was still happy with what I paid.

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sfilosa

sfilosa

Posted
Posted

Last Signature Auction, I got about 5 or 6 CGC Atlas comics between VF and VF/NM, and probably as a group paid no more than 10% over guide (including BP).

 

Also won a Tales to Astonish #35 (first Ant-Man in costume) in CGC VF for 20% below guide (including BP).

 

They usually have a lot of interesting Golden-Age books, and there are some bargains.

 

 

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sfilosa

sfilosa

Posted
Posted

The Bump has occured on some books. I was winning several books at around $400.00 and now the bid is $800.00 or more. That's the BUMP.

 

It is possible that the Bump has not occured on other books.

 

But usually the hard to get, highest CGC graded books have high reserves, and the more common items (even in high grade), don't have high reserves (as the seller expect reasonable bidding anyway).

 

I'm still winning the one book that I really want (and it is in a grade that is lower than I ever buy).

 

Good luck to all.

 

 

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