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New HA bidding format "extended bidding"
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40 posts in this topic

Lets take what people like and make it better just like what Coke did when they up the ante and changed their VERY successful original fomula to a new one.... NEW COKE (which tasted like Pespi).

 

Edited by gumbydarnit
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On 2/16/2024 at 7:45 AM, gumbydarnit said:

Lets take what people like and make it better just like what Coke did when they up the ante and changed their VERY successful original fomula to a new one.... NEW COKE (which tasted like Pespi).

 

image.thumb.png.d1e5ace886756c2c3df7782b50faabab.png

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On 2/15/2024 at 8:47 PM, Will_K said:

HA's video on extended bidding

https://www.youtube.com/watch?v=ehPlyCFcbUI

Having gone low on an early item in auction, only to wish I'd chased it a little harder when I got blown out on a later piece that I was more interested in, my first choice would still be for Heritage to just send me a list of everything that will be coming to auction in advance and then let me tell them the proper order in which to list items, but since that's never happening, I will admit that one advantage of this format is allowing you to chase both something you're really interested in and something that works as a consolation prize at the same time.

Having said that, the format seems like a headache if you're seriously bidding on lots of items, and I see no valid reason to have the requirement that you must place a bid prior to the extended bidding session in order to be a bidder once extended bidding begins.  

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On 2/17/2024 at 5:08 AM, Rick2you2 said:

Corrected it for you. I think it’s awful.

And I didn’t care for New Coke, either.

Oh wow, I love Coke Zero (Cherry Coke Zero actually).  To each their own I guess.

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On 2/17/2024 at 12:19 PM, Xatari said:

Oh wow, I love Coke Zero (Cherry Coke Zero actually).  To each their own I guess.

There used to be a Fresca Black Cherry high was terrific, but the new one is meh.

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On 2/17/2024 at 10:19 AM, Xatari said:

Oh wow, I love Coke Zero (Cherry Coke Zero actually).  To each their own I guess.

I have tried a half a dozen times (at least) to fully quit Coke Zero and I cannot. I quit smoking easier and permanently over 25 years ago.

Edited by cstojano
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On 2/17/2024 at 2:35 PM, cstojano said:

I have tried a half a dozen times (at least) to fully quit Coke Zero and I cannot. I quit smoking easier and permanently over 25 years ago.

Right?!? Once it hits your lips… 😂 

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On 2/17/2024 at 9:15 AM, ShallowDan said:

Having gone low on an early item in auction, only to wish I'd chased it a little harder when I got blown out on a later piece that I was more interested in, my first choice would still be for Heritage to just send me a list of everything that will be coming to auction in advance and then let me tell them the proper order in which to list items, but since that's never happening, I will admit that one advantage of this format is allowing you to chase both something you're really interested in and something that works as a consolation prize at the same time.

Having said that, the format seems like a headache if you're seriously bidding on lots of items, and I see no valid reason to have the requirement that you must place a bid prior to the extended bidding session in order to be a bidder once extended bidding begins.  

Yes as I commented above I think it can lead to decision fatigue unless you have a very good plan going on. My two most memorable examples were trying to buy multiple consecutive pages from a book being split up and the Al Williamson Star Wars tryout strips that Hakes sounds. In the former case I ended up with a bit of a mishmash, in the latter case I ended up with nothing.

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I ceased my bidding at CC since 2018, I have not bid anything at HA for four years and I never won anything but one at Hakes. Mycomicshop is using the extended bidding too but I haven’t bid for two years. Got tired of being outbids at all time. 

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On 2/18/2024 at 5:27 AM, JollyComics said:

I ceased my bidding at CC since 2018, I have not bid anything at HA for four years and I never won anything but one at Hakes. Mycomicshop is using the extended bidding too but I haven’t bid for two years. Got tired of being outbids at all time. 

I’m curious where you are buying or have you stopped buying for the past few years as well. No sarcasm here and genuinely interested. 

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On 2/18/2024 at 8:27 AM, JollyComics said:

I ceased my bidding at CC since 2018, I have not bid anything at HA for four years and I never won anything but one at Hakes. Mycomicshop is using the extended bidding too but I haven’t bid for two years. Got tired of being outbids at all time. 

Perhaps you are undervaluing the market?

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On 2/19/2024 at 6:08 AM, Rick2you2 said:

Perhaps you are undervaluing the market?

No, I am tired of being dragging into the unnecessary expensive expenses.

For CC, They can see my secret bids. They kept outbidding me.  I tried to outbid them but they knew my secret bids. Vince made money out of me.  I used to buy many books from CC long before the buyer's premium.  I never like their new website.

For Heritage, 20% buyer's premium isn't that bad but the bidders are always aggressive upon my bidding. It became more expensive.  HA must add the sales tax and their shipping is outrageously overpriced. My state must tax on the shipping cost.  Now, HA adds the extending time.  It gets too expensive right now.  Ironically, those bidders decided to resell their books and they received losses instead profits. I never understand them.  HA is always looking more money.  It's out of fun.

For Hakes, the auction is nearly ended.  If I bid that book in less than a hour in prior to the end, it extends 8 MINUTES!!! That gives them more time to outbid me.  I won only once in 12 years.

For MCS, I love their auction but they are too aggressive upon me. Extending time killed me at all the time. I paid too much for the low grade book.

I won the books but the buyer's premium, overcharged shipping costs and sales taxes are overwhelmed.  I have enough.

Edited by JollyComics
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The market has simply increased in value in recent years, so sticker shock is understandable for those who remember cheaper days. And yes, some of it is the add-on costs of the online auction process. But another thing that keeps bids high is anonymous bidding. Collectors like to be on good terms with their peers so they can enjoy each other's collections. If we were all in a room together (as indeed happens at places like the OAX auction and the Heroes Con auction), there's at least some incentive to compete less fiercely against each other and just congratulate the other guy on his new art. Not that Heritage is immune to collusive "gentlemen's agreements" among high-end buyers who like the same pieces. But it takes more work.

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