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WILL ALLENTOWN DETECTIVE #38 MEET RESERVE?

Started by action1kid,

112 posts in this topic

esquirecomics

esquirecomics

Posted
Posted

Yes, sorry, it was 2002. Same book. Unless some major bidding happens shortly or at the auction itself, it certainly appears JP will either take a loss or possibly break even. However, don't forget that on e-bay this book was bid up to $155k, which was my bid. But obviously someone was bidding against me to that price so they may just be lying in wait to bid. I'm tempted, but frankly I don't want to get stuck with the book for several years either.

 

As for shilling, there is indeed a risk involved as you noted, but certainly it can be done.

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tth2

tth2

Posted
Posted
Unless some major bidding happens shortly or at the auction itself, it certainly appears JP will either take a loss or possibly break even. However, don't forget that on e-bay this book was bid up to $155k, which was my bid.

If the book goes for less than $155K, you should call JP and taunt him. smirk.gif

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Aman619

Aman619

Posted
Posted
but not a tough book to be "stuck with" ...... its beautiful. and its a major GA key.

We want to see actions, not words! poke2.gif

 

Im nearly immune to its charms. I have a very nice copy for a bunch less $.. But I saw it at a convention a few years ago and its just awesome.

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esquirecomics

esquirecomics

Posted
Posted
Unless some major bidding happens shortly or at the auction itself, it certainly appears JP will either take a loss or possibly break even. However, don't forget that on e-bay this book was bid up to $155k, which was my bid.

If the book goes for less than $155K, you should call JP and taunt him. smirk.gif

 

He offered it to me at the time for $165k. Said he had a buyer at that price but would give me first shot since I was high-bidder. Guess he tried to unsuccessfully bluff me. Shame on him! insane.gif27_laughing.gif

 

I then saw it on his site a few months ago for $225k 893whatthe.gif

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Crowzilla

Crowzilla

Posted
Posted

He offered it to me at the time for $165k. Said he had a buyer at that price but would give me first shot since I was high-bidder. Guess he tried to unsuccessfully bluff me. Shame on him! insane.gif27_laughing.gif

I then saw it on his site a few months ago for $225k 893whatthe.gif

 

Yes, but you know the story...

Yes, I did sell it for the $165K to one of my coin guys, who then advertised it on my site later for $225. He wants out now, and is just letting it go at Heritage for whatever he can get for it.

 

Yeah, right....

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tth2

tth2

Posted
Posted
Unless some major bidding happens shortly or at the auction itself, it certainly appears JP will either take a loss or possibly break even. However, don't forget that on e-bay this book was bid up to $155k, which was my bid.

If the book goes for less than $155K, you should call JP and taunt him. smirk.gif

 

He offered it to me at the time for $165k. Said he had a buyer at that price but would give me first shot since I was high-bidder. Guess he tried to unsuccessfully bluff me. Shame on him! insane.gif27_laughing.gif

Having heard this, you should still call him and taunt him. But now do it at 4 am! 27_laughing.gif

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tth2

tth2

Posted
Posted

That would be 5 pm here, just in time for a break from reviewing contracts, so I'd be happy to make the call for you! devil.gif Of course, first you have to win the book.

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Thegoldenage

Thegoldenage

Posted
Posted

Wouldn't it be tough to shill on Heritage? Between the 15% BP, plus whatever seller's commission is being paid, and the lack of visibility on who (if anybody) is bidding against you, I'd be scared to even try to shill. I mean suppose I get a buddy to put in a good "floor price" bid on an item I'm selling, and he ends up winning? He is on the hook to pay full value, and I presume I'd have to make him whole, but the net proceeds that I, as seller get, is less BP and seller's commission. So now I'm still stuck with the book, but have spent 15%+ in cash for the privilege of being exactly where I started.

 

The word "shill" was a poor choice of words. It is common knowledge that Heritage "bumps" books up to just under the reserve (allowed under Texas Law). There is nothing from stopping them from placing the Tec 38 just under the minimum of what Parrino will take for it. I am sure they have agreements with him regarding minimum acceptable bids, buyer's premium and so forth.

 

Parrino's prices on his site were just sickening. He won't be missed from the hobby as far as I am concerned.

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Aman619

Aman619

Posted
Posted

no. that would be shilling. Totally different from bumping up a lot to the price below the official reserve bid. You describe a gentlemans aggreement between seller and auction house.... and as described a pure sham. Why would Heritage or any other reputable or semi-reputable (take your pick) enter into such a deal that can only hurt them?

 

I cant say 100% that they wouldnt, or didnt in this case, but as shady as any of us expect Herirage to be, this just sems unnessarily close to the edge for no gain.

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Aman619

Aman619

Posted
Posted

no. that would be shilling. Totally different from bumping up a lot to the price below the OFFICIAL Reserve Bid. You describe a "gentleman's aggreement" between seller and auction house.... and as described -- a pure sham. Why would Heritage or any other reputable or semi-reputable (take your pick) enter into such a deal that can only hurt them?

 

I cant say 100% that they wouldnt, or didnt in this case, but as shady as any of us expect Herirage to be, this just seems unnessarily close to the edge for very little gain.

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esquirecomics

esquirecomics

Posted
Posted
Wouldn't it be tough to shill on Heritage? Between the 15% BP, plus whatever seller's commission is being paid, and the lack of visibility on who (if anybody) is bidding against you, I'd be scared to even try to shill. I mean suppose I get a buddy to put in a good "floor price" bid on an item I'm selling, and he ends up winning? He is on the hook to pay full value, and I presume I'd have to make him whole, but the net proceeds that I, as seller get, is less BP and seller's commission. So now I'm still stuck with the book, but have spent 15%+ in cash for the privilege of being exactly where I started.

 

The word "shill" was a poor choice of words. It is common knowledge that Heritage "bumps" books up to just under the reserve (allowed under Texas Law). There is nothing from stopping them from placing the Tec 38 just under the minimum of what Parrino will take for it. I am sure they have agreements with him regarding minimum acceptable bids, buyer's premium and so forth.

 

I believe that's true with books that have a reserve, but the Tec 38 has none.

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1962

1962

Posted
Posted

While only JP knows for sure what his intentions are, the fact that his website has been down forever and the fact that he has a lot of big tickets items in the Heritage Auction at no reserve would seem to indicate that he is bailing out of the comic market.

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