Anybody Have Any Experience Bidding On Heritage?

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Author	Replies: 11 / Views: 2,374
edweather Pillar of the Community United States 7375 Posts	Posted 04/19/2018 12:08 pm I haven't ever bid on anything with Heritage yet, so hopefully someone can give me a pointer or two. I'd like to bid on a watch, and it's a bit pricy. The current bid is 5k, and increment is $500, and could possibly go to $1000 of the watch hits 10k, at which point I'll be out. Is it smarter to bid earlier or go for the snipe? Is it smart to enter a maximum bid, and how should that be played? I never do that on ebay. They also have bid protection.....I have no clue waht that is. Any help is much appreciated. I realize the buyers premium, tax, shipping, etc is extra. Report this Post to the Staff

KenKat Pillar of the Community United States 4085 Posts	Posted 04/19/2018 12:33 pm You can enter a proxy bid ahead of time just like on ebay. Then there is typically a live auction - sometimes internet only but sometimes they are taking bids off the floor or by phone also at the same time. A BIG difference with Heritsge is that when someone enters a bid, the auction is automatically extended for a few more seconds (10-15 maybe?) to allow others to respond. So sniping does not really come into play and you do see more items that are sold based on a prior proxy bid beforehand since sniping is no longer as much of a strategy. If there is something you really want, I would try to attend the auction with a true maximum price in mind with maybe a bargain proxy bid in place in case you don't make the live auction - the proxy might hold up. My 7070 US Type Set My 7100 Lincoln Cent Set (now with updates!) Report this Post to the Staff
edweather Pillar of the Community United States 7375 Posts	Posted 04/19/2018 12:58 pm Thanks, yea, I forgot the auctions aren't timed like ebay. Report this Post to the Staff
westernsky Pillar of the Community United States 7637 Posts	Posted 04/19/2018 1:03 pm Don't forget to factor the infamous "buyer's fee" into your bid! Report this Post to the Staff
Crazyb0 Rest in Peace 10197 Posts	Posted 04/19/2018 1:08 pm But do remember that even electronically, there is a slight lag. I have bid often on similar style extended bidding, usually extended 60-120 seconds when a bid is placed under the 2 minute timer. I have lost bids when using my el cheepo Android tablet because the electronic reaction is slower than my speedy laptop. Lesson learned, if you want the item, use every advantage you have! Report this Post to the Staff
BStrauss3 Pillar of the Community United States 4594 Posts	Posted 04/19/2018 1:51 pm If you join the live auction, you can bid - once - a half increment. If you prebid, your max does not have to be a full increment. Your 10,001 bid beats 10,000. The cut bid would be 10,500 and the full increment 11,000. All plus 22.5% -----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/ Report this Post to the Staff
edweather Pillar of the Community United States 7375 Posts	Posted 04/19/2018 2:06 pm Thanks for all the tips. Quote: If you prebid, your max does not have to be a full increment. Your 10,001 bid beats 10,000. The cut bid would be 10,500 and the full increment 11,000. Good point about the 10,001. Edited by edweather 04/19/2018 2:07 pm Report this Post to the Staff
moxking Rest in Peace United States 17900 Posts	Posted 04/19/2018 7:31 pm If you "must have" the item bid your highest amount right away so the price increases enough to get the "cheapy boys (and gals) from watching it. If you are only interested if it's a lower price, stick to actual bidding. I've won many hundreds of coins from them and I've never had a lag lose me a Coin. Report this Post to the Staff
Coinfrog Bedrock of the Community United States 94367 Posts	Posted 04/19/2018 7:39 pm Only dozens for me, not hundreds, but I agree. Report this Post to the Staff
Fuzzy317 Moderator United States 14463 Posts	Posted 04/19/2018 7:45 pm I have won a few auctions from Heritage, some internet only, and one or two that had internet proxy before live auctions. I tried to compensate my bidding for the buyers prem, but one time I went slightly above my budget. Report this Post to the Staff
paxbrit Pillar of the Community United States 992 Posts	Posted 04/19/2018 8:30 pm Be prepared to pay for what you really want. Bargains are out there, but not the stuff you want, it's something else. Collectors pay out the nose, a dealer takes what he can get. Report this Post to the Staff
Aoraki Valued Member New Zealand 148 Posts	Posted 05/21/2018 6:49 pm 20% Report this Post to the Staff
	Replies: 11 / Views: 2,374

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