Heritage's Next Event Auction has started posting books ! 31 31

[MasterChief]

On 9/19/2021 at 9:45 AM, szav said:

I also don't think Heritage owes anyone an explanation, but it might help their image to be a little more transparent, or clear in their language, and just say if a buyer backed out/defaulted/died before completing time payments or whatever legitimate explanation there might be.   But again, don't think they really have any obligation to do so. 

This has probably been discussed before, but I don't know the answer.

What are the consequences if you back out and renege on a Heritage auction win?

Do you have to give a specific reason that that meets some acceptable criteria to cancel the purchase?

[batman_fan]

On 9/19/2021 at 2:00 PM, MasterChief said:

Greg, what are the books that you've seen relisted? 

I thought this one sold before but I could be wrong

Detective 68

[adamstrange]

On 9/19/2021 at 4:08 PM, MasterChief said:

This has probably been discussed before, but I don't know the answer.

What are the consequences if you back out and renege on a Heritage auction win?

Do you have to give a specific reason that that meets some acceptable criteria to cancel the purchase?

Everything with every vendor is negotiable, but how well you'll do depends on the strength of your negotiating  position.  Just like the rules for Vegas whales aren't the rules for the hoi-polloi, big consignors or big bidders will be allowed flexibiliity that others won't.

[comicnoir]

On 9/19/2021 at 3:50 PM, goldust40 said:

Don't they have the option of offering the book to the underbidder?

Lon doesn't want it.

[Point Five]

On 9/19/2021 at 5:02 PM, comicnoir said:

Lon doesn't want it.

Right, so then it goes to the second underbidder. A certain N.P. Gresham?

 

[GreatCaesarsGhost]

On 9/19/2021 at 5:59 PM, Point Five said:

Right, so then it goes to the second underbidder. A certain N.P. Gresham?

 

That was the non-payer winning bid

[jimjum12]

On 9/19/2021 at 3:04 PM, GreatCaesarsGhost said:

rule out the possibility of an innocent explanation, and have withdrawn my finger from the nuclear button. 

This is why you're COOL and others aren't.  GOD BLESS...

-jimbo(a friend of jesus)

 

... I always want my facts straight before I begin a libel campaign. One day those guys are going to sue the juice out of someone. 

[jimjum12]

On 9/19/2021 at 11:03 AM, buttock said:

Halperin's gonna get banned if he doesn't pay.  

Or even worse, they might unleash Mary on his arse.... GOD BLESS...

-jimbo(a friend of jesus)

Edited September 19, 2021 by jimjum12

[buttock]

On 9/19/2021 at 5:02 PM, GreatCaesarsGhost said:

That was the non-payer winning bid

Non Payer Gresham

[tth2]

On 9/19/2021 at 11:08 PM, alexgross.com said:

On 9/19/2021 at 6:17 PM, tth2 said:

This is showing up in the previews for the November auction.  I guess this wasn't a real sale after all.

truly shameless. one would think they'd at least wait a bit before relisting the product of a fake sale. 

They're not listing it as a resale of a previous sale.  They've gotten rid of the record of the previous sale and are saying in the new listing that the previous sale of the book didn't go through. 

[tth2]

On 9/20/2021 at 3:50 AM, goldust40 said:

Don't they have the option of offering the book to the underbidder?

The process, based on my experience when I was the underbidder on an item that did not actually sell because the winner flaked, is that Heritage will immediately offer the book to the underbidder at your highest bid.  They can't force the underbidder to take it at that point, though.  In my case, I said that I didn't want to buy it at what might still be an artificially inflated price and that my winning bid should be whatever it would've been if the bogus bidder hadn't bid at all.  Heritage wouldn't agree to that, however.

The difference between my experience and what we've got here is that in my case, after I declined their "offer", Heritage then listed the item in the post-sale listings with a Make An Offer price.  Here, it seems like Heritage is immediately just re-listing it in the next auction.  

[Crowzilla]

On 9/19/2021 at 4:00 PM, MasterChief said:

Greg, what are the books that you've seen relisted? 

The Human Torch #31 also.

[Aman619]

On 9/19/2021 at 8:46 PM, tth2 said:

The process, based on my experience when I was the underbidder on an item that did not actually sell because the winner flaked, is that Heritage will immediately offer the book to the underbidder at your highest bid.  They can't force the underbidder to take it at that point, though.  In my case, I said that I didn't want to buy it at what might still be an artificially inflated price and that my winning bid should be whatever it would've been if the bogus bidder hadn't bid at all.  Heritage wouldn't agree to that, however.

The difference between my experience and what we've got here is that in my case, after I declined their "offer", Heritage then listed the item in the post-sale listings with a Make An Offer price.  Here, it seems like Heritage is immediately just re-listing it in the next auction.  

that decision must have been up to the consignor. If it was a comics collector, who has been in the game for years, he might be hoping it really was worth what the non paying bidder bid it up to (and since there was an underbidder bidding right up til the end he must have thought he was right), so placing it in the Make an Offer felt like the best way to get near that price again.

In this case, a quick call to the Promise heirs no doubt led to a decision to just resist it for whatever it gets.  Having sold 10 plus million so far? whats the diff. All incredible found money.

[woowoo]

Did this not sell last week ? if so why is it for sale again 

Fantastic Comics #3 Incomplete (Fox, 1940) CGC PR 0.5 Off-white | LotID #34015 | Heritage Auctions (ha.com)

[lou_fine]

On 9/19/2021 at 1:26 PM, adamstrange said:

On 9/19/2021 at 1:08 PM, MasterChief said:

What are the consequences if you back out and renege on a Heritage auction win?

Do you have to give a specific reason that that meets some acceptable criteria to cancel the purchase?

Everything with every vendor is negotiable, but how well you'll do depends on the strength of your negotiating  position.  Just like the rules for Vegas whales aren't the rules for the hoi-polloi, big consignors or big bidders will be allowed flexibiliity that others won't.

My one transaction was so long ago that I believe it was actually with Sotheby's, and resulted in me asking for a cancellaton of my auction win with a refund to be paid back to me.  Couldn't have been Heritage since I don't think they were around back then in the early 90's when I was interested in the early historical books, and good thing that was only for a very short period of time as those books have gone absolutely nowhere from a valuation point of view.  

It was for a grouping of 20 low grade Famous Funnies books along with a Famous Funnies, Series 1 book which is recognized as being the third comic book to be published back in 1934.  When I received my winning lot in the mail, it did include the 20 low grade Famous Funnies books along with a copy of Famous Funnies, A Carnival of Comics.  Called them up only to be told that it shouldn't really matter since all of the books were there as listed, except for just one of them which was just a honest listing mistake.  I told them that I didn't care about the other Famous Funnies books and the only book that I really wanted was the Series 1 since I already had nice copies of both Funnies on Parade and A Carnival of Comics which were the first 2 published comic books and I just wanted to complete the triple.  They finally agreed when I told them that the Famous Funnies Series 1 was printed in bold letters as part of their lot description and their "fine print" stated that returns were allowed if errors were made in the bold print of their lot description.  I guess I won that one there.  

[comicnoir]

This is being relisted as well. What I find interesting is it is a Canadian edition of a Timely. Were they available in the States? or did the family take a road trip to Canada? (Quite possible)

https://comics.ha.com/itm/golden-age-1938-1955-/the-human-torch-31-canadian-edition-the-promise-collection-pedigree-timely-1948-cgc-vf-nm-90-white-pages/a/7246-96110.s?ic10=ExpandedResults-ItemImageDesc-040215

[MasterChief]

On 9/19/2021 at 4:35 PM, Crowzilla said:

On 9/19/2021 at 10:00 AM, MasterChief said:

Greg, what are the books that you've seen relisted? 

The Human Torch #31 also.

Thanks for the lead.

Along with the Saddle Justice #6, the HT#31 is currently listed as a "Post-Auction Buy" with the same wording:

"We are accepting offers until 8:00 AM CT Monday, September 20, 2021 on this item that didn't sell in the recent 2021 September 8 - 12 Comics & Comic Art Signature Auction." 

If I understand what's going on, there are six items that did not sell in the September auction. All items apparently unsold due to buyers reneging.

One of the items (a Frazetta OA piece) is listed as a post-auction buy for $540K. 

All post-auction buy items are on a countdown clock. Seems as though once the clock runs out, the item, if not sold either through 'make an offer' or 'by it now', are removed completely from the website and auction records with no way of knowing what happened to the lot. For example, the printable auction results, which I understand is one item of record required by law among several others, does not reflect the Frazetta lot number of 91006. The number is skipped and lists 91005 then 91007. But no 91006. (link to printable auction results)

Here's a screen grab of the items currently listed as post-auction buys. They will be gone in the morning.

[GreatCaesarsGhost]

On 9/20/2021 at 3:16 AM, MasterChief said:

Thanks for the lead.

Along with the Saddle Justice #6, the HT#31 is currently listed as a "Post-Auction Buy" with the same wording:

"We are accepting offers until 8:00 AM CT Monday, September 20, 2021 on this item that didn't sell in the recent 2021 September 8 - 12 Comics & Comic Art Signature Auction." 

If I understand what's going on, there are six items that did not sell in the September auction. All items apparently unsold due to buyers reneging.

One of the items (a Frazetta OA piece) is listed as a post-auction buy for $540K. 

All post-auction buy items are on a countdown clock. Seems as though once the clock runs out, the item, if not sold either through 'make an offer' or 'by it now', are removed completely from the website and auction records with no way of knowing what happened to the lot. For example, the printable auction results, which I understand is one item of record required by law among several others, does not reflect the Frazetta lot number of 91006. The number is skipped and lists 91005 then 91007. But no 91006. (link to printable auction results)

Here's a screen grab of the items currently listed as post-auction buys. They will be gone in the morning.

Wow. That many. Including a Frazetta! A voided sale on a Saddle Justice 6 is nothing by comparison to a half million dollar Frazetta. I’d love to know why, but I guess we never will. Half a million actually seems low to me for an original Frazetta. Heritage may be glad to get a do over on that one.

[eschnit]

On 9/20/2021 at 12:40 AM, woowoo said:

Did this not sell last week ? if so why is it for sale again 

Fantastic Comics #3 Incomplete (Fox, 1940) CGC PR 0.5 Off-white | LotID #34015 | Heritage Auctions (ha.com)

No, it’s a different copy.

[lou_fine]

On 9/20/2021 at 6:51 AM, szav said:

 

I thought that Frazetta and the Stevens simply had reserves that weren't met.  The comics in question were all no reserve items that had actual winning bids.

I was watching part of the live auction that day and believe that's exactly what happened with the Stevens artwork, but not sure about the Frazetta one because I hadn't signed it by then yet.