Auction Bidding strategies 1 1

[Grant Turner]

I’m not looking for some big insider secret here, but I am curious…

im interested in two things in an upcoming auction.  One ends Thursday and one ends Saturday.  I would want the Saturday page more, but I would certainly want the Thursday page if the Saturday one didn’t pan out.

How would you plan your bidding for that?

I ultimately decided to put my best and final on the Saturday page and if it’s met by Thursday then I’ll move on the other page, and if it’s not met, I’ll let it ride and just say goodbye to the Thursday option.

but in the future, what should I do? How would you handle it?

[grapeape]

Grant be realistic.

•Which one do you have the best chance of winning?
• sounds like Saturday is “the one” but you’ll kick yourself if you don’t get it and pass on trying for Thursday.

 

I would determine what I’d be happy paying for the Thursday page and go for that—-

If I don’t win them Saturday is still open

Hey I hope you win something

Some of these pieces are deceptively low right now ( or we’re about to get our first push back on pricing?nah!).

Good luck.

 

[Hockeyflow33]

2 hours ago, Grant Turner said:

I’m not looking for some big insider secret here, but I am curious…

im interested in two things in an upcoming auction.  One ends Thursday and one ends Saturday.  I would want the Saturday page more, but I would certainly want the Thursday page if the Saturday one didn’t pan out.

How would you plan your bidding for that?

I ultimately decided to put my best and final on the Saturday page and if it’s met by Thursday then I’ll move on the other page, and if it’s not met, I’ll let it ride and just say goodbye to the Thursday option.

but in the future, what should I do? How would you handle it?

My strategy usually ends up being to bid to win Thursday and then spend forty-eight hours convincing yourself why you also need to win Saturday's page

[cloud cloddie]

2 hours ago, Grant Turner said:

I’m not looking for some big insider secret here, but I am curious…

im interested in two things in an upcoming auction.  One ends Thursday and one ends Saturday.  I would want the Saturday page more, but I would certainly want the Thursday page if the Saturday one didn’t pan out.

How would you plan your bidding for that?

I ultimately decided to put my best and final on the Saturday page and if it’s met by Thursday then I’ll move on the other page, and if it’s not met, I’ll let it ride and just say goodbye to the Thursday option.

but in the future, what should I do? How would you handle it?

In those situations, I just figure I can’t have everything. So if I wanted Saturday more, I’d just focus on that. If I didn’t get it,  more money saved for the next piece down the road. 

Edited June 15, 2021 by cloud cloddie

[Panelfan1]

Usually Thursday stuff is platinum so more expensive. Saturday stuff will generally be way less. So if you can afford the Thursday item.. you have a great chance at affording the Saturday item. (All under assumption you are talking about heritage)

 

But putting the bid in advance and letting it ride isn't a good move. You need to be present at the end to bid if you want a better chance to win.

Edited June 15, 2021 by Panelfan1

[Rick2you2]

First, I would look at why I wanted them. Do they both fill the same hole in my collection, different holes, or do I just like them both? Second, what is my budget like? Can I afford triple-market on either of them? (My estimate of a reserve I may need). Third, are they rare? Finally, how much do I really like them? 

If the goal is to fill a hole in the collection, or if I really want something, I “borrow” from a different account, if need be, and buy it, almost no matter what. If my interest is to just accumulate a piece I like, and am not blown away by Saturday’s offering, I go for Thursday. If they both fill holes, and are rare, I go for both. You only live once. Ask Batman Fan. As I recall, he’s down to his right nut after his last purchase.

Just wanted to add that the ones that drive you crazy, years later, are the ones you didn’t win.

Edited June 15, 2021 by Rick2you2

[GreatEscape]

Lately, I've tweaked my approach to reflect today's frothy market conditions.  For prep, I try to prioritize and limit my targets to just 3 pieces on Thurs and 3 pieces on Sat-- otherwise, I'm scattering bids with minimal/no chances of winning--  with a goal to pick up 2 pieces (1 major, 1 minor) every auction.  If  one target goes above my price ceiling in pre-live bidding (happens alot more these days), I'll replace with the next prioritized lot.  Depending on results on my targets , I then focus on other pieces "downstream" in the lot order for each session.  

[jjonahjameson11]

Doesn't matter what advice the previous respondents have provide to you re: bidding strategies.

Using strategies will help you win both pieces only if you bid the most.

If you really must have both and feel that you may not have enough funds, then just keep in mind that HA offers 3 months to pay, if arrangements are made in advance.  They can also provide cash advance against items you consign in upcoming auctions, and last, but certainly not least, since money is practically free these days, use a line of credit with your financial institution.  

 

[Rick2you2]

2 hours ago, jjonahjameson11 said:

Doesn't matter what advice the previous respondents have provide to you re: bidding strategies.

Using strategies will help you win both pieces only if you bid the most.

If you really must have both and feel that you may not have enough funds, then just keep in mind that HA offers 3 months to pay, if arrangements are made in advance.  They can also provide cash advance against items you consign in upcoming auctions, and last, but certainly not least, since money is practically free these days, use a line of credit with your financial institution.  

 

True, but I think he is looking for advice how to prioritize.

[jjonahjameson11]

1 hour ago, Rick2you2 said:

True, but I think he is looking for advice how to prioritize.

There is no prioritizing…only winning or losing 

Edited June 15, 2021 by jjonahjameson11

[Will_K]

First world problems... the timing, budget, desirability, rarity, FMV, current prices vs probable final costs...

There's no formula.

 

Edited June 15, 2021 by Will_K

[batman_fan]

For myself, I would set my max price for the Thursday piece.  I try to set this price at a level above market.  If I win for that price I am good.  If I get outbid, then I go super hard for the 2nd item.  I took this approach on a HA auction in the past.  One piece of work that I really liked and one I loved. The piece I liked ended first followed by the piece I loved.  The piece I loved likely would go higher than I would pay. I got the one I liked for a great price and decided to still bid on the piece I loved even though I knew I would lose.  I am now the proud owner of both.

[JadeGiant]

Go hard after both. Figure out the plan after the auction dust settles

[batman_fan]

3 hours ago, batman_fan said:

For myself, I would set my max price for the Thursday piece.  I try to set this price at a level above market.  If I win for that price I am good.  If I get outbid, then I go super hard for the 2nd item.  I took this approach on a HA auction in the past.  One piece of work that I really liked and one I loved. The piece I liked ended first followed by the piece I loved.  The piece I loved likely would go higher than I would pay. I got the one I liked for a great price and decided to still bid on the piece I loved even though I knew I would lose.  I am now the proud owner of both.

Let me give the opposite story.  When I first tried hard to get a Peanuts strip, HA had several in an auction.  There were several pieces I really liked by the one I absolutely loved was one of the last pieces.  It was a later strip which tend to sell for less unless it is a classic bit so I figured I may pay quite a bit for it but that was fine.  I passed on several strips which went pretty low but then the one I really wanted came up.  I was the high bidder until near the end when two people that really wanted it blew me out of the water.  Closed at 2x what I thought the high side would be.  I was really bummed since I passed on several strips that were much cheaper but not to long after I got contacted about a great strip I loved  was available.  Bought it for quite a bit less than the final hammer for the piece on HA.  Long winded way of saying we hate the ones that get away but something else always comes along.

[zhamlau]

How did it work out?

[gumbydarnit]

For me, the MOST IMPORTANT process would be to put my absolute caps on pieces and  jot em down, so when the bidding frenzy starts, I already have my most uncomfortable last bid figured out. Once it passes that amount, I’m done… I’m a spectator. 
 

This lets me take the heat of battle emotions out of it when trying to figure out whether or not to place another bid, and keeps me from paying 1st tier artist prices for a 3rd tier artist work ; )

[Grant Turner]

Well, my initial statement was slightly off. Turned out the two pieces I had my eye on were both on Saturday, but the gist was still the same: the marquee piece was second, the piece I would’ve wanted if the other fell through was first.

But with that, my strategy did work! I placed my best and final bid on the second piece. I was higher bidder for a week, and then just before pre-bidding closed, I was outbid.

Which then freed me up for the first piece which I won!

(and truth be told, the second piece ended up going for way more than my best and final so I can’t even be sad about missing out as I never had a chance!)

[Grant Turner]

4 minutes ago, gumbydarnit said:

For me, the MOST IMPORTANT process would be to put my absolute caps on pieces and  jot em down, so when the bidding frenzy starts, I already have my most uncomfortable last bid figured out. Once it passes that amount, I’m done… I’m a spectator. 
 

This lets me take the heat of battle emotions out of it when trying to figure out whether or not to place another bid, and keeps me from paying 1st tier artist prices for a 3rd tier artist work ; )

That’s what I ended up doing!

Edited June 19, 2021 by Grant Turner

[gumbydarnit]

3 minutes ago, Grant Turner said:

at’s exactly what I ended up doing!

Cool! Hey man congrats on bringing one down!!! 

[zhamlau]

What were the pieces (now that the auction is over)?