Heritage Auctions's Anonymous Offer Function

[artoholic]

Today, I got an offer for an art piece that I had won previously at Heritage Auctions. The offer allows you 72 hours to accept, reject, or make a counter offer. In my case, I rejected the offer.

 

I am curious as to how efficient and how smoothly the transaction proceeds if one were to accept an offer.

 

Has anyone actually used this function and can anyone offer any insights as to your experience, good or bad? (not looking for specific details of course).

 

Thanks.

 

Joe

[Bronty]

my understanding is that heritage acts as a middle man on the transaction so I would expect it to be smooth, but have no direct experience with this

[tth2]

I've accepted a couple of offers on comic books. As Bronty says, Heritage are the middleman so it functions very smoothly. Having said that, I don't know if Heritage would take the hit if the buyer reneged after you had already sent the book/piece to Heritage.

[Mmehdy]

One for one with me, and made a nice profit on it.

[bluechip]

It's an embryonic system, so there's a few bugs, but not from the seller's standpoint. If you are putting offers on pieces, you may not actually reach the current owner.

 

But, if you are the owner and the offer suits you, this works very well.