How Does Heritage Set There Pre-Auction Pricing, High, Or Low, Or Accurate?

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Author	Replies: 5 / Views: 1,737
edweather Pillar of the Community United States 7375 Posts	Posted 01/15/2018 2:45 pm In my limited experience, most auctioneers set the pre auction prices of small stuff, artifically high, so buyers think they are getting a great deal at hammer time. I see that all the time on Auctionzip auctions. Someone told me it's sometimes the opposite with more expensive items, let's say items on heritage over 10K, where they will under-value something in the pre auction catalogue to attract bidders, who otherwise might be scared off with an artifically high value. Any truth to this? Or do they just set the price as accurate as possible? Thoughts? Edited by edweather 01/15/2018 5:00 pm Report this Post to the Staff

Pertinax Pillar of the Community United Kingdom 2134 Posts	Posted 01/15/2018 5:37 pm Most auctions I see, estimate very low to attract bids. They can also say after the auction "Look how great we are - we achieved 5 X the estimate". Report this Post to the Staff
JFH Valued Member United States 115 Posts	Posted 01/15/2018 6:43 pm In my dealings with Heritage on the higher end items, their value index is usually very close to actual hammer price of the coin. JFH Report this Post to the Staff
Coinfrog Bedrock of the Community United States 94367 Posts	Posted 01/15/2018 7:06 pm I agree. They usually reference the sale and lot # for past purchases on better items. Report this Post to the Staff
basebal21 Bedrock of the Community 13014 Posts	Posted 01/15/2018 7:28 pm Quote: Someone told me it's sometimes the opposite with more expensive items, let's say items on Heritage over 10K, where they will under-value something in the pre auction catalogue to attract bidders, who otherwise might be scared off with an artifically high value. Any truth to this? thoughts? They set it based on what they think it will get for the most part. If they set it to low it'll make buyers hesitant to go way over, but if they keep setting everything to high it's not a good look for everything to fall short. Reserves play a role too. They have A LOT of data to pull from for their decisions Report this Post to the Staff
edweather Pillar of the Community United States 7375 Posts	Posted 01/16/2018 1:19 pm Yeah, you got that right. Their data set is awesome. Report this Post to the Staff
	Replies: 5 / Views: 1,737

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