JIM 83 Diamond Run pedigree CGC VF/NM 9.0 White pages

[joe_collector]

You are correct that it is possible that a book could be bid up to the "Next bid meets reserve", as oppose to being bumped up to that amount.

 

Doubtful, but the point is, they're still hiding behind the "bump" and while you and I can surmise the obvious, Heritage has done nothing to outline that point to potential bidders.

 

Basically, they're continuing to propogate the illusion that someone is willing to pay just a hair short of the reserve amount, thus creating a ficticious bidding demand.

[namisgr]

They are not creating any false bidding demand, once bidders realize this is the method Heritage uses to indicate the price of the reserve. It is a relatively simple approach, and one that is much more informative for the bidder than the hidden reserves of E-bay.

 

The problem with Heritage auctions, for me, continues to be the lack of bidder identification. This is problematic because it fosters shill bidding and the potential for conflict-of-interest bidding by Heritage employees and consultants.

 

Basically, they're continuing to propogate the illusion that someone is willing to pay just a hair short of the reserve amount, thus creating a ficticious bidding demand.

[joe_collector]

They are not creating any false bidding demand, once bidders realize this is the method Heritage uses to indicate the price of the reserve.

 

Sure, and again, I'm not talking about experts on here, who have been examining the intracies of the "Heritage Bump" since it first showed up.

 

Again, if it's so obvious, why doesn't Heritage just drop the charade?

 

P.S. Hidden identities is a huge issue, and as others have brought up, it allows anyone with a motive to commit anything from shilling to outright fraud.

[Aman619]

doesnt Sothebys work the same way at their live auctions? They rattle off "bids" until someone on the floor get in on the action..or the reserve is reached. Its a way to get the bids (if any develop) to a usable level..that is sell or get off the pot! Bids under the reserve dont help the auction house a bit.

 

I agree that for us in comics who chart bid and sales prices, it becomes misleading data. But is thta their fault, or ours?? If you have a slution that serves both intertests, theirs and ours, let them know? asap.

[sfilosa]

The problem with Heritage auctions, for me, continues to be the lack of bidder identification. This is problematic because it fosters shill bidding and the potential for conflict-of-interest bidding by Heritage employees and consultants.

 

 

While off course shilling is possible, I can say that I have won many books for well under my max bid (in one case $300 below my max bid).

[rob_react]

doesnt Sothebys work the same way at their live auctions? They rattle off "bids" until someone on the floor get in on the action..or the reserve is reached. Its a way to get the bids (if any develop) to a usable level..that is sell or get off the pot! Bids under the reserve dont help the auction house a bit.

 

A lot of what Heritage does is replicated at much higher price points. That's one of the reasons that none of this has ever really bothered me. Especially now that the reserve levels notification have become so transparent.

 

Add to that the fact that I've had generally positive experiences when dealing with them as a customer and that I've won many books at rock bottom, low or merely very good prices and you'll see why I'm not a big proponent of the big "Heritage is Evil" conspiracy.

[JiveTurkeyMoFo]

A couple of books I am interested in have "Reserve On This Lot Not Yet Posted"...with only a few days to go, does this mean there are no reserves on these auctions?

[sfilosa]

A couple of books I am interested in have "Reserve On This Lot Not Yet Posted"...with only a few days to go, does this mean there are no reserves on these auctions?

 

Check again now. A few more books that I was bidding on went from "Reserve on this lot not yet posted" to "No Reserve".

[JiveTurkeyMoFo]

Yep. The two books I've been tracking just went to "No Reserve". Thanks!

[joe_collector]

Instead of "Reserve" and "No Reserve", Heritage should just cut to the chase and use "You Cheap SOB!!" and "Pay Up Sucka!" instead.

[uclapeterg]

 

Sometimes, you're funny JC.

[tth2]

Well, the bump has taken this book up to $21,275 (with BP), so to get over the reserve someone would have to be willing to pay $21,850 (with BP). Whoever the seller is, he's definitely swinging for the fences. Is someone really willing to pay this price for a 9.0 JIM 83, and break the reserve? Didn't a 9.0 copy sell on eBay just a few months ago for $16K or so?

 

The book has not met reserve as of the end of internet bidding. Looks like some sanity is prevailing, but we'll have to see what happens on the floor. I'm amazed that Heritage let someone put up such a stratospheric reserve.