Late Reserves in the Heritage auction?

[sacentaur]

I was just turning Sacentaur's words back on him.

 

Better luck next time!

 

STEVE

[sacentaur]

BTW, a book I was tracking just had it's reserve double...two days before the auction ends.

 

Oh what a wicked web we weave when we practice to deceive.

 

Well it's been fun and all that but no time to chat as there are some new crop circles in the back yard that I have to go investigate while the plaster cast of the Bigfoot print is still drying (...and I haven't even finished developing those photos of the Loch Ness monster yet!).

 

STEVE

[Bonds25]

BTW, a book I was tracking just had it's reserve double...two days before the auction ends.

 

Oh what a wicked web we weave when we practice to deceive.

 

Well it's been fun and all that but no time to chat as there are some new crop circles in the back yard that I have to go investigate while the plaster cast of the Bigfoot print is still drying (...and I haven't even finished developing those photos of the Loch Ness monster yet!).

 

STEVE

 

If I was a guessing man, I'd say you were referring to the Crime SuspenStories #22 CGC 9.6 Gaines File Copy. I was high bidder at $1300 up until a week ago, and then the normal reserve bump took place. I rebid and was high bidder again with the reserve price being $1700. Today I log onto Heritage to see that the reserve has been bumped again, and is now $3,500!!!

 

What a crock of *spoon*!! The same person is obviously consigning the Gaines File copies, and has been doing so for 3 years or more. For them to allow this consignor to double the reserve price 2 days before the auction ends is unconscionable!

[Filter81]

BTW, a book I was tracking just had it's reserve double...two days before the auction ends.

 

Oh what a wicked web we weave when we practice to deceive.

 

Well it's been fun and all that but no time to chat as there are some new crop circles in the back yard that I have to go investigate while the plaster cast of the Bigfoot print is still drying (...and I haven't even finished developing those photos of the Loch Ness monster yet!).

 

STEVE

 

If I was a guessing man, I'd say you were referring to the Crime SuspenStories #22 CGC 9.6 Gaines File Copy. I was high bidder at $1300 up until a week ago, and then the normal reserve bump took place. I rebid and was high bidder again with the reserve price being $1700. Today I log onto Heritage to see that the reserve has been bumped again, and is now $3,500!!!

 

What a crock of *spoon*!! The same person is obviously consigning the Gaines File copies, and has been doing so for 3 years or more. For them to allow this consignor to double the reserve price 2 days before the auction ends is unconscionable!

 

Just for the record, I really am asking this as a question because I'm not completely sure on this one.. But doesn't Halperin own most of the Gaines File copies? (Not making a statement of fact here, just asking)

[FFB]

BTW, a book I was tracking just had it's reserve double...two days before the auction ends.

 

Oh what a wicked web we weave when we practice to deceive.

 

Well it's been fun and all that but no time to chat as there are some new crop circles in the back yard that I have to go investigate while the plaster cast of the Bigfoot print is still drying (...and I haven't even finished developing those photos of the Loch Ness monster yet!).

 

STEVE

 

If I was a guessing man, I'd say you were referring to the Crime SuspenStories #22 CGC 9.6 Gaines File Copy. I was high bidder at $1300 up until a week ago, and then the normal reserve bump took place. I rebid and was high bidder again with the reserve price being $1700. Today I log onto Heritage to see that the reserve has been bumped again, and is now $3,500!!!

 

What a crock of *spoon*!! The same person is obviously consigning the Gaines File copies, and has been doing so for 3 years or more. For them to allow this consignor to double the reserve price 2 days before the auction ends is unconscionable!

 

Just for the record, I really am asking this as a question because I'm not completely sure on this one.. But doesn't Halperin own most of the Gaines File copies? (Not making a statement of fact here, just asking)

 

Supposedly he does own many of them (almost certainly not "most," since there were something like 12 copies of each book). The question is whether he owns this one. If he does, it would explain the double bump on the reserve. I can't imagine how else it would happen unless Heritage has a policy that allows consignors to add to their reserves during the course of the auction. I've never consigned to Heritage though, so I can't answer that.

 

Whatever the case may be, a double bump on the reserve is a real annoyance. I can see how that would pizz a brother off. If it happened to me, I'd stop bidding on the book regardless of what it was.

[Aman619]

pizz a brother off. you slay me! right arm ma man!

[benz]

BTW, a book I was tracking just had it's reserve double...two days before the auction ends.

 

Oh what a wicked web we weave when we practice to deceive.

 

Well it's been fun and all that but no time to chat as there are some new crop circles in the back yard that I have to go investigate while the plaster cast of the Bigfoot print is still drying (...and I haven't even finished developing those photos of the Loch Ness monster yet!).

 

STEVE

 

If I was a guessing man, I'd say you were referring to the Crime SuspenStories #22 CGC 9.6 Gaines File Copy. I was high bidder at $1300 up until a week ago, and then the normal reserve bump took place. I rebid and was high bidder again with the reserve price being $1700. Today I log onto Heritage to see that the reserve has been bumped again, and is now $3,500!!!

 

What a crock of *spoon*!! The same person is obviously consigning the Gaines File copies, and has been doing so for 3 years or more. For them to allow this consignor to double the reserve

price 2 days before the auction ends is unconscionable!

 

 

 

this is wrong. I saw the reserve bump on Batman 1 from 75k to 100k as what Filter mentioned. I thought someone bidded 100k over the 75k but its just the reserve getting bump.

I will be mad if that happens to me... thing is i dont have the money to bid on that Batman 1...i want it though

[JiveTurkeyMoFo]

But seriously, what else do you call it when something like the late reserves pop up and quite a few peoples' immediate knee-jerk reaction is that Heritage is doing something nefarious to rig the bidding? (George/Jive, this statement isn't aimed at you, it's just that the late reserves are the latest example of this phenomenon).

 

Tim, I don't think I was ever insinuating that it was "nefarious" or pure outright manipulation on the part of Heritage. My initial post was certainly holding out the possibility that it was a consignor who decided to add a reserve late.

 

At the end of the day, I don't think it matters because either scenario makes Heritage look bad, regardless of whether the book was a consignment or their own, whether the reserves were posted late by accident or intentionally, or whatever.

 

Call it a knee-jerk reaction if you will, but why bother even pretending to have an open bidding system when reserves can be added, doubled, or whatever at any time by either Heritage or its consignors? One of the books I'm tracking finally got out of "Reserve Not Yet Posted" mode last night, with less then a day left in the bidding. Incompetence? Intentional? Who cares? It simply makes me question the integrity of the auction.

 

Now, I wil go relurk and continue packing for my trip to sunny Los Angeles.

[Silver Surfer]

BTW, a book I was tracking just had it's reserve double...two days before the auction ends.

 

Oh what a wicked web we weave when we practice to deceive.

 

Well it's been fun and all that but no time to chat as there are some new crop circles in the back yard that I have to go investigate while the plaster cast of the Bigfoot print is still drying (...and I haven't even finished developing those photos of the Loch Ness monster yet!).

 

STEVE

 

If I was a guessing man, I'd say you were referring to the Crime SuspenStories #22 CGC 9.6 Gaines File Copy. I was high bidder at $1300 up until a week ago, and then the normal reserve bump took place. I rebid and was high bidder again with the reserve price being $1700. Today I log onto Heritage to see that the reserve has been bumped again, and is now $3,500!!!

 

What a crock of *spoon*!! The same person is obviously consigning the Gaines File copies, and has been doing so for 3 years or more. For them to allow this consignor to double the reserve price 2 days before the auction ends is unconscionable!

 

Just for the record, I really am asking this as a question because I'm not completely sure on this one.. But doesn't Halperin own most of the Gaines File copies? (Not making a statement of fact here, just asking)

 

Supposedly he does own many of them (almost certainly not "most," since there were something like 12 copies of each book). The question is whether he owns this one. If he does, it would explain the double bump on the reserve. I can't imagine how else it would happen unless Heritage has a policy that allows consignors to add to their reserves during the course of the auction. I've never consigned to Heritage though, so I can't answer that.

 

Whatever the case may be, a double bump on the reserve is a real annoyance. I can see how that would pizz a brother off. If it happened to me, I'd stop bidding on the book regardless of what it was.

 

And if this is indeed his book(s) then it gives the impression that Heritage shill's their own auctions which is very disturbing. Like others I have had nothing but great service from Heritage over the years but some of the sloppy and perhaps intentional stuff that is going on behind the scenes is alarming. I take it auction houses are not regulated in any way?

[Filter81]

Unless I'm mistaken it looks like Heritage gave a third round of reserve bumps a few hours prior to the end of the auction. I was watching the Daredevil Battles Hitler CGC 9.4 to see what it would sell for to try to get at least a rough idea of what I could expect if I decide to sell my Rockford copy. Looks like it went from no reserve to reserve not met some time between now and five hours ago. Thats really disappointing. I wanted to see what it would sell for in a no reserve auction.

 

 

On a side note, did anyone else notice how aggressive the bidding got on the qualified Adventure 42 and the Journey into Mystery 83 with the tear seal? I wonder how much some of the threads on these boards (particularly the Manufactured Gold thread) influenced those prices.

[batman_fan]

Unless I'm mistaken it looks like Heritage gave a third round of reserve bumps a few hours prior to the end of the auction. I was watching the Daredevil Battles Hitler CGC 9.4 to see what it would sell for to try to get at least a rough idea of what I could expect if I decide to sell my Rockford copy. Looks like it went from no reserve to reserve not met some time between now and five hours ago. Thats really disappointing. I wanted to see what it would sell for in a no reserve auction.

 

 

On a side note, did anyone else notice how aggressive the bidding got on the qualified Adventure 42 and the Journey into Mystery 83 with the tear seal? I wonder how much some of the threads on these boards (particularly the Manufactured Gold thread) influenced those prices.

 

I posted twice about the Adventure 42 but no one replied. Based on the latest info from CGC that disassembly is not restoration, the 42 looks like a prime candidate to be converted to a blue lable 7.5 or higher. Think of the price delta a blue 8.5 would have versus the green 7.5.

[jkrk]

Unless I'm mistaken it looks like Heritage gave a third round of reserve bumps a few hours prior to the end of the auction. I was watching the Daredevil Battles Hitler CGC 9.4 to see what it would sell for to try to get at least a rough idea of what I could expect if I decide to sell my Rockford copy. Looks like it went from no reserve to reserve not met some time between now and five hours ago. Thats really disappointing. I wanted to see what it would sell for in a no reserve auction.

 

 

I always wondered what options are open to an auction house if some books show a poor bid? Shill bidding works but who bids? The consignor? Low bids reflect poorly on the book but ultimately hurts the auction house to a greater degree. Why pay a premium to sell unless the house can obtain better prices then other venues? If a very late reserve was placed on the DD then I guess I have my answer

as to how an auction house will handle a weak auction for a book. If a high reserve fails to get met then perhaps the book was priced "slighty higher" then the buyers would pay? However, The high reserve still creates the illusion that the book is in strong demand.

[Bonds25]

BTW, a book I was tracking just had it's reserve double...two days before the auction ends.

 

Oh what a wicked web we weave when we practice to deceive.

 

Well it's been fun and all that but no time to chat as there are some new crop circles in the back yard that I have to go investigate while the plaster cast of the Bigfoot print is still drying (...and I haven't even finished developing those photos of the Loch Ness monster yet!).

 

STEVE

 

If I was a guessing man, I'd say you were referring to the Crime SuspenStories #22 CGC 9.6 Gaines File Copy. I was high bidder at $1300 up until a week ago, and then the normal reserve bump took place. I rebid and was high bidder again with the reserve price being $1700. Today I log onto Heritage to see that the reserve has been bumped again, and is now $3,500!!!

 

What a crock of *spoon*!! The same person is obviously consigning the Gaines File copies, and has been doing so for 3 years or more. For them to allow this consignor to double the reserve price 2 days before the auction ends is unconscionable!

 

A humorous follow-up to this.

 

I ended up being the high bidder at $2,100 ($2500 after BP). I checked their "Post Auction Sales" list, and they have it listed at $4,182.

 

I made an offer of $2,900, but was told that lowest offer they'd accept was $3,973.38 (I kid you not).

 

I also noticed that 267 of the lots didn't meet their reserve prices. Whoever is consigning these items must be on crack!

 

 

Item: Crime SuspenStories #22 Gaines File pedigree 3/12 (EC, 1954) CGC NM+ 9.6 Off-white pages....

Regular price: $4,182.50.

 

Suggested Price Range:

$3,973.38 - $4,182.50

(this price range includes any Buyer's Premium)

 

Your Offer: $

[tth2]

I also noticed that 267 of the lots didn't meet their reserve prices. Whoever is consigning these items must be on crack!

I believe a lot of the ECs don't meet the reserve each auction. I've heard many belong to Jim Halperin, so I guess Heritage is happy to keep including them every time.

[Aman619]

if those were my books that failed to reach my reserve price, I wouldnt sell them if I didnt have to either. But I suspect that if I or you made it so difficult to sell our books by pricing them too high, we might be shown the door pretty quick. Heritage cant be happy to fail to sell books, unless of course, they have no say about it cause the boss says so.

[tth2]

I just don't understand their (or Jim's) philosophy of constantly parading the same books on sale over and over again. This creation of a constant sense of availability is a sure way to depress the value of a book, in my opinion. I think the Gaines EC books use to have real cachet, but I don't know if anyone has any urgency in getting them now because they know there will always be another 9.6 copy available on Heritage in the future.

 

The best way to increase the value of a scarce, sought after book is to buy it and then hide it away from sight for 3 or 4 years, so that when it surfaces again it creates a big splash.

[Bonds25]

I just don't understand their (or Jim's) philosophy of constantly parading the same books on sale over and over again. This creation of a constant sense of availability is a sure way to depress the value of a book, in my opinion. I think the Gaines EC books use to have real cachet, but I don't know if anyone has any urgency in getting them now because they know there will always be another 9.6 copy available on Heritage in the future.

 

The best way to increase the value of a scarce, sought after book is to buy it and then hide it away from sight for 3 or 4 years, so that when it surfaces again it creates a big splash.

 

I fully agree. The same Gaines File books appear every single auction, and every time the reserve prices are WAY too high, and the books don't sell. And if the reserve prices aren't met, what is the point of offering the books after the auction is over at the same price as the reserve?? It makes no sense. If they really wanted to sell the books, they'd offer them for 10-30% less than the reserve price.

 

In addition to the ECs not meeting reserve, there were a LOT of the Captain Marvel & Captain Midnight books that didn't meet reserve.

[tth2]

In addition to the ECs not meeting reserve, there were a LOT of the Captain Marvel & Captain Midnight books that didn't meet reserve.

Wa-a-a-y too many Crowley Fawcetts went up at once in this auction. While I think that a decent sized run coming on the market at the same time is great for generating interest, runs numbering in the HUNDREDS is simply too big to absorb all at once.

 

This is also a case of familiarity breeding contempt. There have been so many HG Fawcetts offered on Heritage in the last few years that there is no urgency among collectors to pay up to buy them when they appear.

[Timulty]

That and the fact that the same fawcetts keep popping up. And the page quality is not the best to boot. Too High a Reserver + Lower Page Quality = No Sale. The seller ought to give up the notion of recouping their money and just sell at what the market dictates.

[Silver Surfer]

There must be some tax benefit or wrote off to relisting the Gaines books in every other auction. He probably doesn't want to sell them unless he gets his price for them but they can expense the cost of listing and relisting these over and over again?