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 Replies: 8 / Views: 2,093 |
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Pillar of the Community
 United States
2362 Posts |
When I'm looking for higher grade coins I look to Heritage but I'm still a bit of a newbie at Heritage. In my opinion Heritage is better than ebay in some instances because the ebay auctions get crazy with people who 'want to win' and bid way beyond retail. In my opinion Heritage bidders understand wholesale and retail prices better and bid accordingly. So, a coin was open for bidding and I passed and waited for proxy bids. Proxy bids are applied just before the live auction starts. So, I made my proxy bid and when it went to live bidding - I lost. My bid was exactly the same as the winning bidder but the time stamp showed that she/he placed the bid first. I thought (duh) that I would get a response saying that I was outbid or matched but it doesn't work that way on Heritage. I'm posting this because maybe I'm not the only person to not know how Heritage works - duh...  Member ANA and EAC "You got to lose to know how to win". Dream On by Aerosmith Edited by cipster
11/05/2013 11:51 am
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Pillar of the Community
United States
2311 Posts |
I don't even use that site.
But sounds interesting
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Pillar of the Community
1751 Posts |
HA.com is awesome once you get used to it, I've scored some great deals/cherrys there over the years, their imaging is pretty solid for a major auction house.
They will be my venue of choice for my next project (crackout 64DM Morgans from CC-O-P-S mints for a custom holder) and I am working with a fairly conservative budget.
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Moderator
 United States
23522 Posts |
Keep in mind, Heritage plays very conservatively with online-related bidding activity. There's too much chance of glitches or delays inhibiting activity, and they disclaim dependence on Internet activity for you as the bidder repeatedly. They *do* have a feature called "Bid Protect," which is your automatic pre-authorization to increase your proxy bid by one single increment should you end up tied; that will net you a win when you're tied with a winning bidder who placed their bid prior to yours.
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Bedrock of the Community
Australia
21786 Posts |
I recently won a coin at auction with a written bid of $625. Reserve was $500, estimate $700. I won it at $600. Bids opened at the reserve and raised in $25 steps. My successful bid was one step above the second highest bid. Here is the coin: France: Charles V111 1483-1498, Ecu d'or a la couronne. Obv. crowned arms of France, rev. floriated cross. edge flan crimping Fr. 318, VF. https://www.statusint.com/photo-coins/6799.jpg |
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Valued Member
United States
368 Posts |
I've been meaning to sign up with HA for a while.....seems like a daunting bidding process. But I'm from the ebay world of bidding. Perhaps I'll look closer at HA going forward! |
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Pillar of the Community
United States
8137 Posts |
I do not use HA except for recent auction records.
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Pillar of the Community
United States
5825 Posts |
I know on some auction sites live bidders override Internet bidders.
What I mean is that if you are bidding by Internet a floor bidder would win if both of you bid the same amount -- even though your bid might have been registered earlier.
Does Heritage work that way?
I don't know.
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Pillar of the Community
United States
500 Posts |
As with ebay, success will depend on who else happens to be interested in the coin at the time. I've seen just as crazy "run it up" bidding go well past RETAIL list there. It just depends on how much interest that particular coin garners. You just have to hope few others are interested - just like with ebay auctions. One "phenomenon" I have noticed more recently is that CAC coins get bid way higher than non-CAC on Heritage. I'm not a fan of the "goosing" of prices CAC brings, but it really shows at HA, IMO! |
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Replies: 8 / Views: 2,093 |
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Posted 11/04/2013 10:09 pm
