HAS ANYONE NOTICED THE KILLER DC MATERIAL IN THE HERITAGE AUCTION??!!

[tth2]

I have a question about this auction. Say, I bid on a book and am the high bidder when the online auction ends. The floor auction begins the next day and those on the floor have the last bids on the book, right? What do you have to do to win the book? Does my maximum high bid have to be so high that those on the floor give up on the bidding. Seems like it would be hard to win an online auction without laying down so really big bucks!!

 

Yes, you have to bid high enough to win against the floor bidders. There aren't usually that many of them, however, and even some of them will put in bids through the internet. A reasonable chunk of the lots sell to folks who put their bids in through the Heritage site.

Quite a few books can be won with online bids (i.e., no one on the floor will outbid the highest online bid).

 

However, for key books, the bidding on the floor can be fast and furious. Even if you put in a high online bid, it may not deter the floor bidders because they won't see your max bid, only it's incremental amount above the last online bid (or the reserve). So there may be continued bidding on the floor. The only way to ensure you win via an online bid is to bid some ungodly amount that no one will beat, but of course then you run the risk of someone on the floor punish-bidding you.

 

You can also contact Heritage to set up telephone bidding, so you can bid live even if you can't attend in person.

[acesilver]

I have a question about this auction. Say, I bid on a book and am the high bidder when the online auction ends. The floor auction begins the next day and those on the floor have the last bids on the book, right? What do you have to do to win the book? Does my maximum high bid have to be so high that those on the floor give up on the bidding. Seems like it would be hard to win an online auction without laying down so really big bucks!!

 

Yes, you have to bid high enough to win against the floor bidders. There aren't usually that many of them, however, and even some of them will put in bids through the internet. A reasonable chunk of the lots sell to folks who put their bids in through the Heritage site.

Quite a few books can be won with online bids (i.e., no one on the floor will outbid the highest online bid).

 

However, for key books, the bidding on the floor can be fast and furious. Even if you put in a high online bid, it may not deter the floor bidders because they won't see your max bid, only it's incremental amount above the last online bid (or the reserve). So there may be continued bidding on the floor. The only way to ensure you win via an online bid is to bid some ungodly amount that no one will beat, but of course then you run the risk of someone on the floor punish-bidding you.

 

You can also contact Heritage to set up telephone bidding, so you can bid live even if you can't attend in person.

 

 

To piggyback on what Tim just said you can telephone bid too. But if I remember right you either have to be the top, or one of the top, internet bidders for a lot to participate. There were lots that I won by having the highest internet bid and that was enough. More often though I'd have a high internet bid and arrange telephone bidding so I wouldn't get surprised by floor bids.

 

One of the side benefits to phone bidding, if you can't be there in person, is they'll usually call you several minutes before your lot(s) come up for bid. You can usually hear the floor bidding in the background. Which has helped me to identify if books were going for about what I expected or more/less. That way you can better formulate your bidding strategy. Especially if you are after multiple lots of a given title.

 

Almost makes me wish I'd be buying at this auction instead of selling.

[namisgr]

Anyone know why Heritage dropped the 'live internet bidding" feature of a couple of years ago? Not only was it great to have the real-time option via internet of increasing one's max bid, but it was just plain fun to watch the bidding action on the lots. Did it prove too complicated to coordinate internet, telephone, and floor bidding?