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 Replies: 21 / Views: 6,680 |
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Valued Member
United States
282 Posts |
Hi all. I was outbid in a Heritage auction by a single bid increment on a coin a couple of months ago. I now see this very same coin for sale as "Buy now" from Heritage inventory at 20% above the highest bid price including BP.
What can this mean - did the high bidder not pay? If so wouldn't they offer it to the next highest bidder (me)?
I am going with the assumption that they are on the up and up and would not shill bid of course if the bid was too low. Edited by syeb
08/22/2016 11:39 pm
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Pillar of the Community
United States
7630 Posts |
It could mean a number of things.....Buyer didn't pay, coin was returned undelivered, it was resold to Heritage, etc etc.
Give them a call and talk to someone in sales and make them an offer. The worse thing they can say is "no".
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Pillar of the Community
United States
7390 Posts |
Sounds like the buyer that bought it is using their service of allowing a buyer to sell it as a bin.
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Pillar of the Community
United States
4085 Posts |
I am pretty sure that after you win a coin on Heritage, you have the option to list it as a buy it now at the price of your choosing. I think what happened is that the original bidder won the coin and is trying to immediately flip it for a profit on Heritage using the Buy It Now option.
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Pillar of the Community
Poland
3201 Posts |
Interesting, CCF answers my question before I even post it  Seen that locally too. Lots supposedly sold at auction appear as buy-it-nows in the same company's store. And while the auction prices can be considered decent, the buy-it-nows are higher by $100, $250, $500+ etc. |
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Pillar of the Community
 United States
4594 Posts |
I believe the HA listing is semi-automatic. The coins are listed with a notation that the owner might be willing to sell. If you choose to participate then you can specify a set price and actively solicit sales or offers. On another note, sometimes things pop-up the other way. I lost a coin in the 1st Newman sale... it went for 1 increment over my max. It then popped up on ebay 2 weeks later for $10 UNDER my underbid. Yes, it's in MY collection NOW! -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Valued Member
 United States
282 Posts |
I thought perhaps it was the winner trying to flip. However when I filtered my search to look for coins only from Heritage inventory it showed up. Which made me think it was not a buy-it-now from owner but instead HA selling the coin at a higher price than the auction ended (did not end in my opinion) with.
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Bedrock of the Community
United States
10982 Posts |
Heritage will enter bids for "themselves" so to speak, it's a form of a hidden reserve. It's nice to think some of the above comments are true and sometimes they are true but be realistic. If the item doesn't reach a price level considered acceptable to the consignor and/or consignee then a hidden reserve can kick in and I'm certain this has happened to me as well. I look at it this way - I bid the most I'm willing pay when including the BP & shipping and let it go at that. Sometimes coins I "lose" end up as a B-I-N on Heritage or with hnai.com on ebay. ebay seller hnai.com is Heritage Auctions and often you can get better deals from them off ebay than on their own website! P.S. @BStrauss3:  That's what I'm talking about. Good work on the one (won) you got on ebay! Edited by BH1964
09/03/2016 9:38 pm
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Valued Member
United States
282 Posts |
BH1964 - Isn't that exactly the same thing as shill bidding on ebay which we all know and hate? And is against ebay Heritage's own policy? |
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Bedrock of the Community
United States
10982 Posts |
Quote:BH1964 - Isn't that exactly the same thing as shill bidding on ebay which we all know and hate? And is against ebay Heritage's own policy? You could certainly call it that and, of course, any consignor could also shill their own coins with an alternate account. There are so many eventualities that I quit worrying about what I can't control. It's not like they are bidding up their auctions like Teletrade used to do. I have never seen evidence of it anyway. Now defunct Teletrade Auctions was a well known and obvious example of shill bidding to a criminal degree IMO. They knew what highest value a bidder was willing to pay (from their max bid) and would regularly shill their auctions up to your max bid. It was rare to win anything at Teletrade for under your max bid - very rare. |
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Valued Member
United States
70 Posts |
Quote:
You could certainly call it that and, of course, any consignor could also shill their own coins with an alternate account. There are so many eventualities that I quit worrying about what I can't control. It's not like they are bidding up their auctions like Teletrade used to do. I have never seen evidence of it anyway.
Now defunct Teletrade Auctions was a well known and obvious example of shill bidding to a criminal degree IMO. They knew what highest value a bidder was willing to pay (from their max bid) and would regularly shill their auctions up to your max bid. It was rare to win anything at Teletrade for under your max bid - very rare. who owned teletrade when they did shill bidding? |
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Bedrock of the Community
United States
94367 Posts |
Good question. I think it evolved into Great Collections.
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Pillar of the Community
United States
4594 Posts |
WRONG WRONG WRONG
Stacks bought Teletrade.
Nothing to do with GC.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Bedrock of the Community
United States
94367 Posts |
Hey, calm down. Sorry, apologies, didn't mean to upset you.  Edited by Coinfrog
09/06/2016 6:38 pm
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Valued Member
United States
70 Posts |
Quote:
Stacks bought Teletrade. Why did they buy it to shut it down? Who owned it before it was sold and did they do shill billing? |
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Pillar of the Community
United States
4594 Posts |
Stack's didn't buy TeleTrade to shut it down. They ran it for a couple years while "improving" their name-brand offering. It's just that TT filled a niche that SB's weekly Internet only auctions don't (fill). And the new tech is not as good as TT's was.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Replies: 21 / Views: 6,680 |
Posted 09/03/2016 01:54 am
