The Ins and Outs of Auction House Bids (Heritage, Comiclink, Comic Connect, etc.) 2 2

[Rick2you2]

On 2/6/2022 at 11:17 AM, Qarlo Clobreggny said:

Sorry, I did reply but hadn't seen that you were responding directly to Rick2you2 ( so I deleted my original reply).

Yes, page 47 is a KEY page (in terms of story content/climax) but, personally, I don't think it's a particularly noteworthy page, visually.  I did bid on the page, but there were other examples more important to me (that I won).

That’s a pretty healthy pile you picked up. Congrats.

[Rasp Lame]

At the end of last year, I bid over $1500 on two Heritage auctions and over $2000 on another before live bidding started. On two of the auctions, I won by exactly one bid increment and on the other auction I won with my top bid.

Normally I limit myself to Morlock prices of under $500. I don't think I am the best judge of FMV, so I was a little bit surprised when the final prices fell where they did.  

Maybe I’m being paranoid but going forward I will be sticking to just the live bidding. 

Edited February 7, 2022 by Rasp Lame

[Rick2you2]

On 2/7/2022 at 5:35 AM, Rasp Lame said:

At the end of last year, I bid over $1500 on two Heritage auctions and over $2000 on another before live bidding started. On two of the auctions, I won by exactly one bid increment and on the other auction I won with my top bid.

Normally I limit myself to Morlock prices of under $500. I don't think I am the best judge of FMV, so I was a little bit surprised when the final prices fell where they did.  

Maybe I’m being paranoid but going forward I will be sticking to just the live bidding. 

I should mention that during live bidding, it is easy to blow a budget. Once the Adrenalin kicks in with the desire to win, the urge to throw in “one last bid” again, and again, can be brutal. Furthermore, shilling during live bidding is a real risk, too, probably as bad as house bidding, if not more so. Usually, I look at the piece and figure if I really, really want it or not. If not, I may stick with a proxy and let it ride. If it isn’t a hot piece, but still worth getting, you can do okay without blowing your funds allocation before the good stuff shows up again.

[The Voord]

On 2/7/2022 at 10:55 AM, Rick2you2 said:

I should mention that during live bidding, it is easy to blow a budget. Once the Adrenalin kicks in with the desire to win, the urge to throw in “one last bid” again, and again, can be brutal. Furthermore, shilling during live bidding is a real risk, too, probably as bad as house bidding, if not more so. Usually, I look at the piece and figure if I really, really want it or not. If not, I may stick with a proxy and let it ride. If it isn’t a hot piece, but still worth getting, you can do okay without blowing your funds allocation before the good stuff shows up again.

Well, I'm sure we all remember one noted dealer shilling his own consignments and winning them back, (not trying to re-open a can of worms, but it serves as a cautionary tale)!  Live bidding is now the future way to go for me (sorry, it's a bit of a red flag winning previous lots at or very close to maximum bids submitted prior to the Live Bidding sessions).  I get that bidding frenzy can easily blow your budget in the Live Auctions sessions . . . and, really, you need to be very self-disciplined in not getting carried away (been there, done that . . . usually when alcohol is involved!).  I (now) usually write down a figure in front of me that is my absolute top price not to exceed . . . and lock-up the drinks cabinet! 

[RafaVia]

I bid once on my phone while sitting in a bar. Went higher as initially planned and won art I don’t think is worth what I paid for it. People say don’t drink and drive. Well, also don’t drink and bid live!

[kbmcvay]

Questions about live bidding on Heritage... Do you just track the time the bid comes in and call a number or do you have to call them ahead of time to set something up to let you bid (I'm assuming you already have an active account)? How do they know who you are when you bid? 

[Twanj]

On 2/7/2022 at 4:29 PM, kbmcvay said:

Questions about live bidding on Heritage... Do you just track the time the bid comes in and call a number or do you have to call them ahead of time to set something up to let you bid (I'm assuming you already have an active account)? How do they know who you are when you bid? 

You can bid live online on the web.

I've never done the phone bidding, I'd contact em ahead of time to make sure.

[kbmcvay]

On 2/7/2022 at 4:58 PM, Twanj said:

You can bid live online on the web.

I've never done the phone bidding, I'd contact em ahead of time to make sure.

Thank you. I honestly had no idea you could bid online. Which begs the question - why is "proxy bidding" even a thing? 

[RafaVia]

Because people might not be available at that time to bid live. Think about other timezones. 
i.e. last night closed the Comiclink auction. Here in Europe it started at 02.00h and went on till 05.30h. So I put my bids in before going to bed, and this morning I saw how much I was outbid.

[Will_K]

On 2/7/2022 at 4:29 PM, kbmcvay said:

Questions about live bidding on Heritage... Do you just track the time the bid comes in and call a number or do you have to call them ahead of time to set something up to let you bid (I'm assuming you already have an active account)? How do they know who you are when you bid? 

Re: phone bidding... It's been a while since I've bid over the phone.  But I assume it hasn't changed.  On your lot, there's a link to sign up to be a phone bidder.  HA only offers phone bidding for their bigger auctions (i.e. not the weekly auctions).

HA will call you.  About 5 lots or so before your specified lot.  I've been asked if I have a maximum in mind, I just say that I will sit back.  You'll be kept informed of the current high bid.  Make sure you know when the bid increments change.  I just say "bid" when I wanted to bid.  Then you'll be told if you're the top bidder or not.  I'm usually only bidding on 1 piece.  So after the auction closes, I just thank them and we hang up. 

There was at least 1 time when I didn't think I could bid live and signed up for phone bidding.  But later, I was able to be online, when HA called, I just told them I'll be online and don't need phone bidding.  I have no idea whether HA will do any vetting based on your overall bidding history or whatever.  For example, if someone never wins do they decline you as a phone bidder ?  I'm sure they have multiple people handling phone bidders but it never sounded like a person could handle multiple phone bidders at the same time.

[Rick2you2]

On 2/8/2022 at 8:39 AM, kbmcvay said:

Thank you. I honestly had no idea you could bid online. Which begs the question - why is "proxy bidding" even a thing? 

It’s also useful for posting a “tracking bid”. By bidding on Heritage, for example, I get notified when another bid is posted, and if I am still in the game.

[Number 6]

Question about consigning with Heritage:

I was contemplating consigning a couple of items and noticed a reference to a “minimum value” but couldn’t find and specifics about what that minimum actually is. 
 

Any idea on what that is or where I can find it on the site? (Was looking to consign a couple of first edition books)

I’d like to know before I start the process of contacting on of their experts. 

[grapeape]

On 4/17/2022 at 3:32 PM, Number 6 said:

Question about consigning with Heritage:

I was contemplating consigning a couple of items and noticed a reference to a “minimum value” but couldn’t find and specifics about what that minimum actually is. 
 

Any idea on what that is or where I can find it on the site? (Was looking to consign a couple of first edition books)

I’d like to know before I start the process of contacting on of their experts. 

you should go ahead and contact them with what you have. Their pre auction valuation will determine what auction items would be placed in. Right now for original comic art and comics to  be featured in a signature auction HA has to determine the likely valuation of the item for listing is $5k +. For First edition books I would call to be put in touch with a representative who specializes in that field. You'll get the best information that way.

[batman_fan]

On 4/17/2022 at 4:32 PM, Number 6 said:

Question about consigning with Heritage:

I was contemplating consigning a couple of items and noticed a reference to a “minimum value” but couldn’t find and specifics about what that minimum actually is. 
 

Any idea on what that is or where I can find it on the site? (Was looking to consign a couple of first edition books)

I’d like to know before I start the process of contacting on of their experts. 

Reach out to Rick, @Ricksneatstuff

He can definitely help you with the entire process at Heritage.  Definitely an easy person to talk to.

Edited April 18, 2022 by batman_fan