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Article about Heritage from the Oregonian

Started by stevescu1,

39 posts in this topic

stevescu1

stevescu1

Posted
Posted

http://www.oregonlive.com/news/oregonian/steve_duin/index.ssf/2009/10/the_auction_of_whiz_17.html

I apologize if someone allready posted this. Basicly someone who bought the original cover art to Whiz #17 thinks Heritage shill bid to drive the price up, and it offers Heritages side of the story as well.

 

I have bought stuff from Heritage in the past, and have never had a problem, but the stuff I've read about them bidding on their own auctions does make me think twice when I see stuff on there I'm interested in.

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PokerKid

PokerKid

Posted
Posted

Well done article - and the comments for The Dentist go a long way to showing a pretty well rounded article. His comments do fly in the face of conspiracy theorists, who are much more entertaining, but may not have the full pictures.

 

What I picked up.

1) The Dentist has so much money he buys $20,000 art pieces and doesn't remember doing it - much less having it.

2) Even at the "ridiculous" prices he pays, he still has a lot of room left to go on his max bids most of the time.

3) I will never know what it is like to be him.

 

 

I also have always felt that the reason people so often win bids near their max is because most people want to pay fair market value, so most bid in the same general range. If we are immediately outbid, we give up, but most don't have a huge range between the existing bid - or reasonable expectation for a sale - and their high end.

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linmoth

linmoth

Posted
Posted

I have bought and sold many items thru Heritage some at my max bid some below. When I sold I thought I was treated very fairly.

 

When I purchased from the "Dentist" on ebay I am pretty sure I was shilled.

 

Take my comments for what they are worth.

 

Best, Tom

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Bronty

Bronty

Posted
Posted

 

 

I also have always felt that the reason people so often win bids near their max is because most people want to pay fair market value, so most bid in the same general range. If we are immediately outbid, we give up, but most don't have a huge range between the existing bid - or reasonable expectation for a sale - and their high end.

 

good point

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TheWatcher

TheWatcher

Posted
Posted
I have bought and sold many items thru Heritage some at my max bid some below. When I sold I thought I was treated very fairly.

 

When I purchased from the "Dentist" on ebay I am pretty sure I was shilled.

 

Take my comments for what they are worth.

 

Best, Tom

 

DA has a rather dubious reputation as a seller

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TheShadowKnows

TheShadowKnows

Posted
Posted
I have bought and sold many items thru Heritage some at my max bid some below. When I sold I thought I was treated very fairly.

 

When I purchased from the "Dentist" on ebay I am pretty sure I was shilled.

 

Take my comments for what they are worth.

 

Best, Tom

 

DA has a rather dubious reputation as a seller

Do tell hm

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G.A.tor

G.A.tor

Posted
Posted
I have bought and sold many items thru Heritage some at my max bid some below. When I sold I thought I was treated very fairly.

 

When I purchased from the "Dentist" on ebay I am pretty sure I was shilled.

 

Take my comments for what they are worth.

 

Best, Tom

 

DA has a rather dubious reputation as a seller

Do tell hm

:gossip: not worth it lol
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Thegoldenage

Thegoldenage

Posted
Posted
http://www.oregonlive.com/news/oregonian/steve_duin/index.ssf/2009/10/the_auction_of_whiz_17.html

I apologize if someone allready posted this. Basicly someone who bought the original cover art to Whiz #17 thinks Heritage shill bid to drive the price up, and it offers Heritages side of the story as well.

 

I have bought stuff from Heritage in the past, and have never had a problem, but the stuff I've read about them bidding on their own auctions does make me think twice when I see stuff on there I'm interested in.

 

Wow. Another article alleging fradulent bidding activity by Heritage. My own experience with Heritage is as follows:

 

Last summer I won a fairly high priced and rare comic in a Heritage auction. A short time later two better copies came up for direct sale on well known and well traveled dealer websites. They were both in nicer condition (all 3 were CGC'd) and both were priced lower than what I won my book for. Both of those copies are still for sale. It made me wonder why the person who was bidding against me on the book I won (and it was only one bidder, as I was on the phone and could clearly hear the bidder number of the person bidding against being called repeatedly as I bid) didn't buy one of the other copies instead. It was one of those "red-flag" type things that I dismissed at first. I mean, maybe the underbidder on my book changed his mind. It happens. But now with the all of the allegations of shill bidding, it really makes me wonder. Anyways, since all of this has come up in the news I have really scaled back my bidding on Heritage's site.

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Thegoldenage

Thegoldenage

Posted
Posted
I have bought and sold many items thru Heritage some at my max bid some below. When I sold I thought I was treated very fairly.

 

When I purchased from the "Dentist" on ebay I am pretty sure I was shilled.

 

Take my comments for what they are worth.

 

Best, Tom

 

DA has a rather dubious reputation as a seller

Do tell hm

:gossip: not worth it lol

 

Why not?

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THE_BEYONDER

THE_BEYONDER

Posted
Posted

"Why would we bother doing anything like that (shill bids) in comic books, which make up three or four percent of our business, and not do it in coins, which is at least 70 percent of our business?" Halperin said. "If we did it in coins, I can assure you all the coin dealers would know immediately because so many of them attend our auctions in person, and they all talk to each other. Instead, coin dealers routinely tell us that we are the one auction house they trust the most."

 

I love how Halperin answers his own question. :insane:

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VintageComics

VintageComics

Posted
Posted
Comics only make up 3-4% of their sales? And coins 70%? Thank our lucky stars EJ doesn't have his hands in the coin part of the biz.......

 

Coin grading is literally 10 times bigger than comics. It's HUGE!

 

 

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TFL-migration

TFL-migration

Posted
Posted

Didn't Mr. Halperin and or a company he worked for, or owned, get into trouble involving the grading of coins? I re call a fine in the millions of dollars. He does own a part of The CGC, does he not? The Steve Borock interview mentioned him. No special grades, no voting power, etc. Seems to be something going on that a few big collectors don't like.

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Davenport

Davenport

Posted
Posted
http://www.oregonlive.com/news/oregonian/steve_duin/index.ssf/2009/10/the_auction_of_whiz_17.html

I apologize if someone allready posted this. Basicly someone who bought the original cover art to Whiz #17 thinks Heritage shill bid to drive the price up, and it offers Heritages side of the story as well.

Interesting article, but does reading it seem "off" to anyone else? (shrug) This part...

 

"That's precisely what Halperin told me; he then connected me to that buyer/seller, a Virginia dentist named Dave Anderson who is one of the best-known -- and most private -- collectors in the comics' field.

 

Anderson confessed that he didn't even remember that he'd bought the art from Heritage in 2004, but he didn't hesitate a minute in bringing the piece to Heritage for re-sale. He put a reserve of $20,000 on the art and sold it at that price."

 

 

He's described as "most private", yet he's "connected" by Halperin directly to a reporter where he goes on the record. So much for being "most private".

 

Then he can't remember that specific purchase. But he does remember "bringing the piece to Heritage for re-sale", what he set his reserve at, and what it sold for.

 

I don't know, just seems 'off'. Probably just me. :blush:

 

 

 

 

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CheezyWhiz

CheezyWhiz

Posted
Posted
I have bought and sold many items thru Heritage some at my max bid some below. When I sold I thought I was treated very fairly.

 

When I purchased from the "Dentist" on ebay I am pretty sure I was shilled.

 

Take my comments for what they are worth.

 

Best, Tom

 

DA has a rather dubious reputation as a seller

 

I have no solid evidence, but my shill-sense has tingled a couple times when watching/buying his books.

 

I'm impressed they got him to answer questions. He completely ignored a valid question about a key book he was selling ("Is this the copy that used to be in Geppi's?") and friendly congrats when I heard he picked up a book that I was thinking about buying. I guess that's what they mean by "most private".

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Bronty

Bronty

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well it makes he's going to avoid questions about geppi if the rumors are true and he is selling geppi's stuff for him... steve would want that privacy no doubt

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TheWatcher

TheWatcher

Posted
Posted
I have bought and sold many items thru Heritage some at my max bid some below. When I sold I thought I was treated very fairly.

 

When I purchased from the "Dentist" on ebay I am pretty sure I was shilled.

 

Take my comments for what they are worth.

 

Best, Tom

 

DA has a rather dubious reputation as a seller

Do tell hm

:gossip: not worth it lol

 

I know nothing!

88441.jpg.a71557cebbb4281ba7a32ef631318dc8.jpg

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tth2

tth2

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Posted

It`d be easier to take this article seriously if the complaining collector revealed his name, rather than remaining anonymous. For all we know it`s someone who`s a competitor of Heritage.

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