@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
People always talk about their sniping victories. But you can't really know that the same bid placed a day earlier at the same price wouldn't have resulted in the exact same winning bids.
But you know what I rarely hear? People talking about how sniping cost them the item. Internet hiccup. Traffic jam gets you home late. You fell asleep before the auction closed.
@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
Agree you have to bid more to win.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
Agree you have to bid more.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
Agree you have to bid more to win.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
Yes you can. Major auctions sometimes have 30 days of bidding.
@jmlanzaf said:
People always talk about their sniping victories. But you can't really know that the same bid placed a day earlier at the same price wouldn't have resulted in the exact same winning bids.
But you know what I rarely hear? People talking about how sniping cost them the item. Internet hiccup. Traffic jam gets you home late. You fell asleep before the auction closed.
Oh, I've mentioned my losses
I got 6 LOLs for this one:
@braddick said:
Have you ever passed on a coin for trivial reasons?
@Zoins said:
Is sleeping through the end of an auction a trivial reason
@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
Agree you have to bid more.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
Weren't you just talking about nitpicking?
It's not from my perspective, because I'd LOVE to know how to make a 2 week proxy bid!
@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
Agree you have to bid more.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
Weren't you just talking about nitpicking?
I'm not sure what nit we're picking. The term "proxy"?
@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
Agree you have to bid more to win.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
Yes you can. Major auctions sometimes have 30 days of bidding.
@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
Agree you have to bid more.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
Weren't you just talking about nitpicking?
It's not from my perspective, because I'd LOVE to know how to make a 2 week proxy bid!
See my prior posts. You can bid as soon as the auction opens for bidding. Sometimes it is weeks in advance. I know Heritage refers to "proxy bids" specifically after the auction starts, but they are all proxy bids executed by Heritage on your behalf.
@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
Agree you have to bid more to win.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
Yes you can. Major auctions sometimes have 30 days of bidding.
Sure it is. You place a max bid and Heritage executes it on your behalf. Heritage has a "proxy" category after the auction starts, but how does that work any differently than the bid placed 3 weeks prior? [Answer: It doesn't.]
@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
Agree you have to bid more to win.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
Yes you can. Major auctions sometimes have 30 days of bidding.
What is proxy bidding?
(May 2015) Proxy bidding is an implementation of an English second-price auction used on eBay, in which the winning bidder pays the price of the second-highest bid plus a defined increment. It differs from a Vickrey auction in that bids are not sealed; the "current highest bid" (defined as second-highest bid plus bid increment) is always displayed.
www.auctioneersoftware.com/what-is-proxy-bidding
Proxy bidding occurs when bidders have the option to set a maximum price that they would be willing to pay for an item and then allow the computer system to bid for them by the bid increment until someone places a higher bid than their maximum. The bid increment is pre-set by the auction and is the amount that a proxy bid must increase by.
@2ndCharter said:
Another advantage with Heritage (if you're going after the higher-priced material) is you can arrange for phone bidding. I'm used it numerous times and it's always worked great. That way, when the Heritage rep calls you, the auctioneer will not close a lot until he either calls it for you or the rep signals that you have dropped out. You don't have to worry about a computer glitch or the action going too fast for you.
Phone bidding has worked well for me. I prefer to have a person on site who can place my bid for me. No glitches.
It usually depends on the amount of the lot or from past experiences both good and bad
m
Walker Proof Digital Album Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
@jmlanzaf said:
People always talk about their sniping victories. But you can't really know that the same bid placed a day earlier at the same price wouldn't have resulted in the exact same winning bids.
But you know what I rarely hear? People talking about how sniping cost them the item. Internet hiccup. Traffic jam gets you home late. You fell asleep before the auction closed.
Actually, my worst loss was a snipe gone bad. eBay blocked my bid, likely because it was higher than my typical bid. Years later, I found out the item went to a fellow forum member.
Of course, I still haven't learned my lesson after all these years
@MasonG said:
I'd prefer that there weren't any shills but the amount of effort required to confirm there are none is prohibitive, so I don't worry about them if they are there. Either I'll get the item at a price I'm willing to pay or I won't.
Yes. This.
A shill is essentially a hidden reserve. I've got better things to do than play games with my bids.
I know a guy who used to shill his own auctions with last second snipe bids if the price was too low. So, if you think sniping was saving you from shilling, guess again.
It appears that this thread has gotten off track, as sniping isn't germane to Heritage, but I will make one final comment in response here. What sniping does is save you from a shill probing your max bid incrementally. If you prefer not to snipe, then don't. You're not going to convince those who've done it successfully for years that it isn't a good strategy on eBay and similar platforms.
@nags said:
Be very aware of the increments. Once the price gets higher the increments get high relative to the price. Get to your increment first and make the other guy pay up.
Thanks for the advice. How specifically would I make sure to get to my increment first? Do I need to set a bid with bid protection? It looks like the options are 0.5 to 3 increments.
If you bid in advance, you'll win in a tie. Let's say you are interested in an item that usually goes for $40,800. If you bid $34,000 (that is $40,800 with BP) in advance and it opens at, say, $30,000 (you), if a live bidder bids up to $34,000, it will still be your bid, so a competing bidder would have to bid $35,000 ($42,000) to beat you. He wouldn't be able to bid, say, $34,005 because that would put it off increment. On a common item, you'd be very likely to win because no one would bid the next full increment.
If you are bidding live, then you have the opposite problem.
Au Contraire! As an example: If the bidding is sitting at $30,000 and the next bidder bids $34,001, the $34001 bid will win even though there is a bid of $34,000. Ask me how I know!
@nags said:
Be very aware of the increments. Once the price gets higher the increments get high relative to the price. Get to your increment first and make the other guy pay up.
Thanks for the advice. How specifically would I make sure to get to my increment first? Do I need to set a bid with bid protection? It looks like the options are 0.5 to 3 increments.
If you bid in advance, you'll win in a tie. Let's say you are interested in an item that usually goes for $40,800. If you bid $34,000 (that is $40,800 with BP) in advance and it opens at, say, $30,000 (you), if a live bidder bids up to $34,000, it will still be your bid, so a competing bidder would have to bid $35,000 ($42,000) to beat you. He wouldn't be able to bid, say, $34,005 because that would put it off increment. On a common item, you'd be very likely to win because no one would bid the next full increment.
If you are bidding live, then you have the opposite problem.
@Zoins said:
Everyone is free to bid the way they prefer.
It’s not a big issue for me.
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
Agree you have to bid more to win.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
Yes you can. Major auctions sometimes have 30 days of bidding.
What is proxy bidding?
(May 2015) Proxy bidding is an implementation of an English second-price auction used on eBay, in which the winning bidder pays the price of the second-highest bid plus a defined increment. It differs from a Vickrey auction in that bids are not sealed; the "current highest bid" (defined as second-highest bid plus bid increment) is always displayed.
www.auctioneersoftware.com/what-is-proxy-bidding
Proxy bidding occurs when bidders have the option to set a maximum price that they would be willing to pay for an item and then allow the computer system to bid for them by the bid increment until someone places a higher bid than their maximum. The bid increment is pre-set by the auction and is the amount that a proxy bid must increase by.
Au Contraire! As an example: If the bidding is sitting at $30,000 and the next bidder bids $34,001, the $34001 bid will win even though there is a bid of $34,000. Ask me how I know!
@nags said:
Be very aware of the increments. Once the price gets higher the increments get high relative to the price. Get to your increment first and make the other guy pay up.
Thanks for the advice. How specifically would I make sure to get to my increment first? Do I need to set a bid with bid protection? It looks like the options are 0.5 to 3 increments.
If you bid in advance, you'll win in a tie. Let's say you are interested in an item that usually goes for $40,800. If you bid $34,000 (that is $40,800 with BP) in advance and it opens at, say, $30,000 (you), if a live bidder bids up to $34,000, it will still be your bid, so a competing bidder would have to bid $35,000 ($42,000) to beat you. He wouldn't be able to bid, say, $34,005 because that would put it off increment. On a common item, you'd be very likely to win because no one would bid the next full increment.
If you are bidding live, then you have the opposite problem.
Your “Au Contriare” is misplaced, because you changed the scenario. The example was “if a live bidder bids up to $34,000,..”. That was correct, even though things change if the other bidder jumps the bid by more than the next increment Ask me how I know!
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@amwldcoin said:
Au Contraire! As an example: If the bidding is sitting at $30,000 and the next bidder bids $34,001, the $34001 bid will win even though there is a bid of $34,000. Ask me how I know!
@nags said:
Be very aware of the increments. Once the price gets higher the increments get high relative to the price. Get to your increment first and make the other guy pay up.
Thanks for the advice. How specifically would I make sure to get to my increment first? Do I need to set a bid with bid protection? It looks like the options are 0.5 to 3 increments.
If you bid in advance, you'll win in a tie. Let's say you are interested in an item that usually goes for $40,800. If you bid $34,000 (that is $40,800 with BP) in advance and it opens at, say, $30,000 (you), if a live bidder bids up to $34,000, it will still be your bid, so a competing bidder would have to bid $35,000 ($42,000) to beat you. He wouldn't be able to bid, say, $34,005 because that would put it off increment. On a common item, you'd be very likely to win because no one would bid the next full increment.
If you are bidding live, then you have the opposite problem.
The higher bid must have been made earlier so you’d need to complete that bid. During the live auction you have to bid on the increment or a cut.
@MasonG said:
I'd prefer that there weren't any shills but the amount of effort required to confirm there are none is prohibitive, so I don't worry about them if they are there. Either I'll get the item at a price I'm willing to pay or I won't.
Yes. This.
A shill is essentially a hidden reserve. I've got better things to do than play games with my bids.
I know a guy who used to shill his own auctions with last second snipe bids if the price was too low. So, if you think sniping was saving you from shilling, guess again.
It appears that this thread has gotten off track, as sniping isn't germane to Heritage, but I will make one final comment in response here. What sniping does is save you from a shill probing your max bid incrementally. If you prefer not to snipe, then don't. You're not going to convince those who've done it successfully for years that it isn't a good strategy on eBay and similar platforms.
Never tried. People do what they will do for good reasons or no reasons at all.
Your “Au Contriare” is misplaced, because you changed the scenario. The example was “if a live bidder bids up to $34,000,..”. That was correct, even though things change if the other bidder jumps the bid by more than the next increment Ask me how I know!
Is that possible? Does it have to be done by an in person or phone bidder, or is there a way to do that on Heritage Live?
Your “Au Contriare” is misplaced, because you changed the scenario. The example was “if a live bidder bids up to $34,000,..”. That was correct, even though things change if the other bidder jumps the bid by more than the next increment Ask me how I know!
Is that possible? Does it have to be done by an in person or phone bidder, or is there a way to do that on Heritage Live?
The post to which I replied, sounded as if it was about pre-live bidding. Such jumps can also be made when there are phone bids or (as in pre-COVID days) in-person bids. Other than that, I’m not certain, but can check for you if you’d like.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I like Gold Standard Auctions, as their premium is 15% with a fixed $7.95 for shipping.
I use the Red Book and Coin World to get a price, and than I use Excel to calculate based on the premium, shipping, tax, et and set a limit. I know, I'm a dork...
I lost last night on a 1922D Peace Dollar (AU) I set my limit to $110 and it sold for $130. cheers!
Comments
I agree.
And, frankly, there is only ONE successful bid strategy: bid more than anyone else.
There is no strategy that will win you an auction if you are unwilling to bid more than anyone else. You can try to snipe. You can bid on Heritage Live. But if my proxy bid placed two weeks earlier is higher than you're willing to go, you are not going to win.
People always talk about their sniping victories. But you can't really know that the same bid placed a day earlier at the same price wouldn't have resulted in the exact same winning bids.
But you know what I rarely hear? People talking about how sniping cost them the item. Internet hiccup. Traffic jam gets you home late. You fell asleep before the auction closed.
Agree you have to bid more to win.
However, unless I'm missing something, you can't make a 2 week proxy bid on Heritage.
Weren't you just talking about nitpicking?
Yes you can. Major auctions sometimes have 30 days of bidding.
You've still got 18 days on this auction:
https://coins.ha.com/itm/colonials/1662-2pence-oak-tree-twopence-large-2-ms62-ngc-noe-34-w-240-salmon-1-b-r5-pcgs-45356-/a/1326-3278.s?ic4=ListView-ShortDescription-071515
Oh, I've mentioned my losses
I got 6 LOLs for this one:
https://forums.collectors.com/discussion/comment/12792544/#Comment_12792544
It's not from my perspective, because I'd LOVE to know how to make a 2 week proxy bid!
I'm not sure what nit we're picking. The term "proxy"?
37 days on this auction
https://coins.ha.com/itm/three-cent-silver/two-and-three-cents/1851-o-3cs-au55-pcgs-pcgs-population-58-491-ngc-census-34-368-cdn-425-whsle-bid-for-ngc-pcgs-au55-mintage-720-/a/60188-91001.s?ic4=ListView-ShortDescription-071515
That's not a proxy bid from my understanding.
See my prior posts. You can bid as soon as the auction opens for bidding. Sometimes it is weeks in advance. I know Heritage refers to "proxy bids" specifically after the auction starts, but they are all proxy bids executed by Heritage on your behalf.
From another thread. Sorry about that.
Sure it is. You place a max bid and Heritage executes it on your behalf. Heritage has a "proxy" category after the auction starts, but how does that work any differently than the bid placed 3 weeks prior? [Answer: It doesn't.]
What is proxy bidding?
(May 2015) Proxy bidding is an implementation of an English second-price auction used on eBay, in which the winning bidder pays the price of the second-highest bid plus a defined increment. It differs from a Vickrey auction in that bids are not sealed; the "current highest bid" (defined as second-highest bid plus bid increment) is always displayed.
www.auctioneersoftware.com/what-is-proxy-bidding
Proxy bidding occurs when bidders have the option to set a maximum price that they would be willing to pay for an item and then allow the computer system to bid for them by the bid increment until someone places a higher bid than their maximum. The bid increment is pre-set by the auction and is the amount that a proxy bid must increase by.
I see your point.
Phone bidding has worked well for me. I prefer to have a person on site who can place my bid for me. No glitches.
With Heritage I set it and forget it.
With Stack's I normally bid by phone.
With Legend I bid live or by phone.
It usually depends on the amount of the lot or from past experiences both good and bad
m
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Actually, my worst loss was a snipe gone bad. eBay blocked my bid, likely because it was higher than my typical bid. Years later, I found out the item went to a fellow forum member.
Of course, I still haven't learned my lesson after all these years
It appears that this thread has gotten off track, as sniping isn't germane to Heritage, but I will make one final comment in response here. What sniping does is save you from a shill probing your max bid incrementally. If you prefer not to snipe, then don't. You're not going to convince those who've done it successfully for years that it isn't a good strategy on eBay and similar platforms.
I try ro bid live with a max bid in mind
If you bid in advance, you'll win in a tie. Let's say you are interested in an item that usually goes for $40,800. If you bid $34,000 (that is $40,800 with BP) in advance and it opens at, say, $30,000 (you), if a live bidder bids up to $34,000, it will still be your bid, so a competing bidder would have to bid $35,000 ($42,000) to beat you. He wouldn't be able to bid, say, $34,005 because that would put it off increment. On a common item, you'd be very likely to win because no one would bid the next full increment.
If you are bidding live, then you have the opposite problem.
Au Contraire! As an example: If the bidding is sitting at $30,000 and the next bidder bids $34,001, the $34001 bid will win even though there is a bid of $34,000. Ask me how I know!
You are correct, > @amwldcoin said:
Your “Au Contriare” is misplaced, because you changed the scenario. The example was “if a live bidder bids up to $34,000,..”. That was correct, even though things change if the other bidder jumps the bid by more than the next increment Ask me how I know!
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Bid to win. A good strategy.
``https://ebay.us/m/KxolR5
The higher bid must have been made earlier so you’d need to complete that bid. During the live auction you have to bid on the increment or a cut.
Never tried. People do what they will do for good reasons or no reasons at all.
Is that possible? Does it have to be done by an in person or phone bidder, or is there a way to do that on Heritage Live?
The post to which I replied, sounded as if it was about pre-live bidding. Such jumps can also be made when there are phone bids or (as in pre-COVID days) in-person bids. Other than that, I’m not certain, but can check for you if you’d like.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I like Gold Standard Auctions, as their premium is 15% with a fixed $7.95 for shipping.
I use the Red Book and Coin World to get a price, and than I use Excel to calculate based on the premium, shipping, tax, et and set a limit. I know, I'm a dork...
I lost last night on a 1922D Peace Dollar (AU) I set my limit to $110 and it sold for $130. cheers!