Will_K Posted February 6 Share Posted February 6 It appears HA will adopt a variation of the ComicConnect and Hakes method that will reset the clock on individual lots. I received the e-mail below from HA. New Bidding Format- Extended Bidding: Starting with our February 11 A Real American Hero - G.I. Joe Action Figures & Toys Showcase Auction which closes on Sunday, February 11th, Heritage's Action Figures & Toys Showcase Auctions are changing to the Extended Bidding format. In these Extended Bidding auctions, anyone can bid until regular proxy bidding ends (7:00 PM CT for these) on the night the auction closes. Then, those who have already bid on a lot may continue to bid on that lot until there are no more bids during the extended bidding period (15 minutes for these) which resets after each new bid during extended bidding. This format will replace the Heritage Live session that now occurs at the end of the auction. Please note: Only bidders that have placed bids before 7:00 PM CT are able to bid on only those same lots during the Extended Bidding session. TeddieMercede, delekkerste, MAR1979 and 3 others 6 Link to comment Share on other sites More sharing options...
midwestfourcolors Posted February 6 Share Posted February 6 I dont think they will be doing this in the comics auctions. The "entertainment" department is it's own thing with the toys and pokemon cards and stuff. Link to comment Share on other sites More sharing options...
MAR1979 Posted February 6 Share Posted February 6 (edited) Eliminating all those pesky live auction bidders who don't show all the cards in advance is yet another way to shill bid to the max. Edited February 6 by MAR1979 grapeape and cloud cloddie 2 Link to comment Share on other sites More sharing options...
MB1952 Posted February 7 Share Posted February 7 (edited) On 2/6/2024 at 1:30 PM, midwestfourcolors said: I dont think they will be doing this in the comics auctions. The "entertainment" department is it's own thing with the toys and pokemon cards and stuff. Hope you correct. they are doing this because they are scared those items go below radar cheap. believe first time they are auctioning AFA GIJoes. Few are blue label open box. Not desirable by true collectors. Many graded figures O-ring pops. I stop buying graded figures. I due love the red label graded vehicles. Edited February 7 by MB1952 Link to comment Share on other sites More sharing options...
cstojano Posted February 7 Share Posted February 7 On 2/6/2024 at 8:21 PM, MB1952 said: Hope you correct. they are doing this because they are scared those items go below radar cheap. believe first time they are auctioning AFA GIJoes. Few are blue label open box. Not desirable by true collectors. Many graded figures O-ring pops. I stop buying graded figures. I due love the red label graded vehicles. Yup, the carded Storm shadow with broken ring is enough to keep me from ever collecting these things. Same thing for the vintage Kenner 18 inch Alien or pretty much any large format 70s-80s toy. Vintage toys, in general are just a growing nightmare of plastic deterioration; it seems with every year now there is a new figure succumbing to the inevitable. Link to comment Share on other sites More sharing options...
tth2 Posted February 7 Share Posted February 7 On 2/7/2024 at 5:30 AM, midwestfourcolors said: I dont think they will be doing this in the comics auctions. The "entertainment" department is it's own thing with the toys and pokemon cards and stuff. Don't be surprised if they bring it to other auctions if it's successful in this first auction. Dick Pontoon and Will_K 1 1 Link to comment Share on other sites More sharing options...
Mickey7 Posted February 7 Share Posted February 7 I believe some sports collectible auctions at Heritage have featured extended bidding for a while now too. Link to comment Share on other sites More sharing options...
KirbyCollector Posted February 7 Share Posted February 7 (edited) On 2/6/2024 at 10:57 PM, cstojano said: Vintage toys, in general are just a growing nightmare of plastic deterioration; it seems with every year now there is a new figure succumbing to the inevitable. I suppose it depends on the manufacturer. I collect vintage Playmobil and their plastics must have been some of the highest quality in the world in the 80s-90s; they look as fresh and bright as the day of manufacture (even after sitting in their original box for decades), with no loss of pliability. Edited February 7 by KirbyCollector Link to comment Share on other sites More sharing options...
Rick2you2 Posted February 7 Share Posted February 7 On 2/6/2024 at 11:32 PM, tth2 said: Don't be surprised if they bring it to other auctions if it's successful in this first auction. It could also result in reduced prices if people don’t want something enough until the last minute bidding opportunity arrives. I’ve bid on some pieces like that. alxjhnsn 1 Link to comment Share on other sites More sharing options...
Popular Post gumbydarnit Posted February 7 Popular Post Share Posted February 7 (edited) Boo on any auction procedure that ends simliar to Hakes Auctions. Edited February 7 by gumbydarnit MAR1979, grapeape, buttock and 4 others 2 5 Link to comment Share on other sites More sharing options...
cstojano Posted February 7 Share Posted February 7 So is the theory here that making people place tracking bids before the cutoff elevates the price before live bidding? It seems unusual to limit the buyer pool in the end with this strategy. LCG Auctions does this well. Its very unsatisfying from a bidder's perspective and feels like it opens you up for more shill bidding. Twanj 1 Link to comment Share on other sites More sharing options...
cstojano Posted February 7 Share Posted February 7 On 2/7/2024 at 5:04 AM, KirbyCollector said: I suppose it depends on the manufacturer. I collect vintage Playmobil and their plastics must have been some of the highest quality in the world in the 80s-90s; they look as fresh and bright as the day of manufacture (even after sitting in their original box for decades), with no loss of pliability. Yeah I suppose. Wonder where Lego is on the scale? I can say action figures were NOT made that way and even worse the packaging, which is most of the value, was certainly not made for longevity (which makes sense, of course). Modern toys are basically made with the worst possible plastics now to the point some lines are notorious for breaking right out of the package. I've seen videos where collectible sneakers have yellowed after only a few years. Not fun. Link to comment Share on other sites More sharing options...
adamstrange Posted February 8 Share Posted February 8 On 2/7/2024 at 8:46 AM, cstojano said: Wonder where Lego is on the scale? Lego sets from 1970 to 2000 are often built and re-built by fans, but only if they were well cared for. The plastic will yellow and dry out making small parts especially fragile. The "clutch" power of pre-1970 bricks is likely very gone. Post 2000, there are periods where the brown and red dyes caused brittleness that developed within a couple years, even in unopened, properly stored boxes. Link to comment Share on other sites More sharing options...
KirbyCollector Posted February 8 Share Posted February 8 On 2/7/2024 at 9:13 PM, adamstrange said: Lego sets from 1970 to 2000 are often built and re-built by fans, but only if they were well cared for. The plastic will yellow and dry out making small parts especially fragile. The "clutch" power of pre-1970 bricks is likely very gone. Post 2000, there are periods where the brown and red dyes caused brittleness that developed within a couple years, even in unopened, properly stored boxes. People don't know Lego almost went bankrupt in 2003; they were cutting corners on plastics quality for years before that and kept on cutting corners to become financially viable again in the late 00s. RBerman 1 Link to comment Share on other sites More sharing options...
cstojano Posted February 9 Share Posted February 9 (edited) I have to admit HA's video on this topic turned my opinion a little. Although I never enjoyed the endless auction closing of Hakes and other similar auctions that use this format the ability to prioritize and re-allocate resources really does solve the problem of listing sequencing. That said, 30 minute extensions seem excessive. Five minutes may be too short, however as I recall a CC auction where a book was being split that was a confusing mess to track consecutive pages, etc. Edited February 9 by cstojano Twanj 1 Link to comment Share on other sites More sharing options...
TeddieMercede Posted February 10 Share Posted February 10 Despise extended bidding, if you want to talk about lack of transparency in auctions nothing is worse. grapeape, Dick Pontoon and MAR1979 3 Link to comment Share on other sites More sharing options...
cstojano Posted February 10 Share Posted February 10 On 2/9/2024 at 9:28 PM, TeddieMercede said: Despise extended bidding, if you want to talk about lack of transparency in auctions nothing is worse. Is that because of the idea that people behind the scenes can more easily manipulate prices via shilling? grapeape 1 Link to comment Share on other sites More sharing options...
MAR1979 Posted February 10 Share Posted February 10 On 2/10/2024 at 10:24 AM, cstojano said: Is that because of the idea that people behind the scenes can more easily manipulate prices via shilling? Easier is debatable, as they have always done that (remember it's legal in Texas). What extended bidding does is always enable shilling to the maximum as being plausible (not a snowball's chance they don't), as opposed to live "real-time" bidding which by it's very nature had tempering effect on that aspect. Link to comment Share on other sites More sharing options...
cstojano Posted February 10 Share Posted February 10 I feel like the current categories this is allowed in has some relevance to the strategy here as well. Are they thinner bid categories, in general? Link to comment Share on other sites More sharing options...
MAR1979 Posted February 11 Share Posted February 11 ^ or a test/pilot to work things out before roll-out to every category? Link to comment Share on other sites More sharing options...
