@winesteven said:
That was me. I love this functionality, and now that it opens at the same time that Proxy Bidding begins, it’s even better!
This tool is the best kept bidding secret at Heritage, as I believe the majority of Heritage bidders either don’t know about it at all, or don’t recognize the advantages of using it.
Steve ... you let the cat out of the bag
OMG ... My Mother was Right about Everything!
I wake up with a Good Attitude Every Day. Then … Idiots Happen!
@winesteven said:
That was me. I love this functionality, and now that it opens at the same time that Proxy Bidding begins, it’s even better!
This tool is the best kept bidding secret at Heritage, as I believe the majority of Heritage bidders either don’t know about it at all, or don’t recognize the advantages of using it.
Steve - you let the cat out of the bag
You're correct, and I recognize your comment was tongue-in-cheek, but in all seriousness I'd rather help many of the collectors on this forum even if it means a tiny bit more competition for the coins I want.
Steve
A day without fine wine and working on your coin collection is like a day without sunshine!!!
Keep in mind that at the last minute you could incur a blackout or incur an internet failure so bidding live might fail. this increases the validity of what Winesteven has suggested.
I used to use this feature but stopped about 1-2 years ago. I want to remember I started getting notifications that someone else had a bid above my "Live Max Bid". I assume other competitors for the lot were also getting messages about where their bids fell. Maybe not accurate, but I felt I was getting into an auction prior to the auction. I only bid live. If I don't get it I figure just not meant to be.
I keep my life simple. I place my max bid and I'm done. If someone wants to pay more for a coin than I do, it is his / her coin. Very few specific coins I am interested in are so rare that I can't eventually find another one.
"Vou invadir o Nordeste, "Seu cabra da peste, "Sou Mangueira......."
@johnjohn10 said:
I used to use this feature but stopped about 1-2 years ago. I want to remember I started getting notifications that someone else had a bid above my "Live Max Bid". I assume other competitors for the lot were also getting messages about where their bids fell. Maybe not accurate, but I felt I was getting into an auction prior to the auction. I only bid live. If I don't get it I figure just not meant to be.
Those email messages are ONLY referring to active bids via the Proxy bidding system that are visible to the public immediately as they are placed. Those warning emails absolutely do NOT notify you when another bidder using the Live Bid system (which do not become active until the coin is actually on the block) has placed a secret max bid higher than your secret max bid.
Steve
A day without fine wine and working on your coin collection is like a day without sunshine!!!
@oreville said:
Keep in mind that at the last minute you could incur a blackout or incur an internet failure so bidding live might fail. this increases the validity of what Winesteven has suggested.
On the other hand, the earlier that one bids, the higher the risk of buying a coin posthumously.
@johnjohn10 said:
I used to use this feature but stopped about 1-2 years ago. I want to remember I started getting notifications that someone else had a bid above my "Live Max Bid". I assume other competitors for the lot were also getting messages about where their bids fell. Maybe not accurate, but I felt I was getting into an auction prior to the auction. I only bid live. If I don't get it I figure just not meant to be.
Those email messages are ONLY referring to active bids via the Proxy bidding system that are visible to the public immediately as they are placed. Those warning emails absolutely do NOT notify you when another bidder using the Live Bid system (which do not become active until the coin is actually on the block) has placed a secret max bid higher than your secret max bid.
Steve
Steve, Thank you for that clarification. I appreciate it.
@oreville said:
Keep in mind that at the last minute you could incur a blackout or incur an internet failure so bidding live might fail. this increases the validity of what Winesteven has suggested.
On the other hand, the earlier that one bids, the higher the risk of buying a coin posthumously.
Hey, don’t put a whammy on this 74 year old! 😅
Steve
A day without fine wine and working on your coin collection is like a day without sunshine!!!
@oreville said:
Keep in mind that at the last minute you could incur a blackout or incur an internet failure so bidding live might fail. this increases the validity of what Winesteven has suggested.
On the other hand, the earlier that one bids, the higher the risk of buying a coin posthumously.
For a deceased coin collector that would send a message to his heirs that coins shoukd be bought not only sold.
@oreville said:
Keep in mind that at the last minute you could incur a blackout or incur an internet failure so bidding live might fail. this increases the validity of what Winesteven has suggested.
On the other hand, the earlier that one bids, the higher the risk of buying a coin posthumously.
By having placed my max Live Bid, I will win a “tie” against someone bidding on their computer as the coin is on the block, as well as any floor or phone bidder.
However, if someone else has placed the same dollar amount max Live Bid before you, you are out of luck unless you are monitoring the auction and willing to go higher.
By having placed my max Live Bid, I will win a “tie” against someone bidding on their computer as the coin is on the block, as well as any floor or phone bidder.
However, if someone else has placed the same dollar amount max Live Bid before you, you are out of luck unless you are monitoring the auction and willing to go higher.
True! Not only that, if someone placed a Proxy bid earlier, which is active immediately, and their max bid is the same as my max Live Bid, they win that tie too.
But to your specific point, that’s why I try to place my Live Bid max as early in the process as possible.
Steve
A day without fine wine and working on your coin collection is like a day without sunshine!!!
By having placed my max Live Bid, I will win a “tie” against someone bidding on their computer as the coin is on the block, as well as any floor or phone bidder.
However, if someone else has placed the same dollar amount max Live Bid before you, you are out of luck unless you are monitoring the auction and willing to go higher.
True! Not only that, if someone placed a Proxy bid earlier, which is active immediately, and their max bid is the same as my max Live Bid, they win that tie too.
But to your specific point, that’s why I try to place my Live Bid max as early in the process as possible.
Steve
It's also worth noting that the early bids don't enforce the increments. You have to go from 750 to 800 live or proxy (or775 cut bid). But you can enter an 805 bid early. So there is sometimes an advantage in not using the proxy
I'm gonna sell all my coins when I retire, to add the money to my retirement coffers. Is Heritage or another Auction site like that the best way to get the best value for the collection? I'll have about 75 coins, mostly Morgans.
By having placed my max Live Bid, I will win a “tie” against someone bidding on their computer as the coin is on the block, as well as any floor or phone bidder.
However, if someone else has placed the same dollar amount max Live Bid before you, you are out of luck unless you are monitoring the auction and willing to go higher.
True! Not only that, if someone placed a Proxy bid earlier, which is active immediately, and their max bid is the same as my max Live Bid, they win that tie too.
But to your specific point, that’s why I try to place my Live Bid max as early in the process as possible.
Steve
It's also worth noting that the early bids don't enforce the increments. You have to go from 750 to 800 live or proxy (or775 cut bid). But you can enter an 805 bid early. So there is sometimes an advantage in not using the proxy
That’s what I do, occasionally. Near the end of the early bidding period, if I see the current high bid is not too far from my mental max, I do exactly as you show, but only for coins that are at a bid increment of $500 or $1,000. For coins at the level of smaller bid increments, psychologically and financially it’s easier for others to just decide to pass my $805 and go to $850.
Steve
A day without fine wine and working on your coin collection is like a day without sunshine!!!
@lars1963 said:
I'm gonna sell all my coins when I retire, to add the money to my retirement coffers. Is Heritage or another Auction site like that the best way to get the best value for the collection? I'll have about 75 coins, mostly Morgans.
Thanks in advance!
It depends a lot (no pun intended) on the market value of the individual coins. As a generalization, coins with lower market values tend to do ok on Great Collections (GC). Coins with “higher” market values can do well on Great Collections, Heritage, Stacks, and David Lawrence Rare Coins.
I suggest you take some time to look at the coins on auction on each of those, and figure out, if possible, what would be best for you. That’s not easy.
Steve
A day without fine wine and working on your coin collection is like a day without sunshine!!!
By having placed my max Live Bid, I will win a “tie” against someone bidding on their computer as the coin is on the block, as well as any floor or phone bidder.
However, if someone else has placed the same dollar amount max Live Bid before you, you are out of luck unless you are monitoring the auction and willing to go higher.
True! Not only that, if someone placed a Proxy bid earlier, which is active immediately, and their max bid is the same as my max Live Bid, they win that tie too.
But to your specific point, that’s why I try to place my Live Bid max as early in the process as possible.
Steve
It's also worth noting that the early bids don't enforce the increments. You have to go from 750 to 800 live or proxy (or775 cut bid). But you can enter an 805 bid early. So there is sometimes an advantage in not using the proxy
That’s what I do, occasionally. Near the end of the early bidding period, if I see the current high bid is not too far from my mental max, I do exactly as you show, but only for coins that are at a bid increment of $500 or $1,000. For coins at the level of smaller bid increments, psychologically and financially it’s easier for others to just decide to pass my $805 and go to $850.
@lars1963 said:
I'm gonna sell all my coins when I retire, to add the money to my retirement coffers. Is Heritage or another Auction site like that the best way to get the best value for the collection? I'll have about 75 coins, mostly Morgans.
Thanks in advance!
If that is the goal, you should sell now. By banking the money earlier, you get the advantage of compounding that is unlikely to be matched by the coins. I don't know how old you are, but if you are more than one of two years from retirement, selling now is advantageous for retirement funds.
@lars1963 said:
I'm gonna sell all my coins when I retire, to add the money to my retirement coffers. Is Heritage or another Auction site like that the best way to get the best value for the collection? I'll have about 75 coins, mostly Morgans.
Thanks in advance!
It depends a lot (no pun intended) on the market value of the individual coins. As a generalization, coins with lower market values tend to do ok on Great Collections (GC). Coins with “higher” market values can do well on Great Collections, Heritage, Stacks, and David Lawrence Rare Coins.
I suggest you take some time to look at the coins on auction on each of those, and figure out, if possible, what would be best for you. That’s not easy.
Steve
If "lower" is under $100, none of those venues is competitive with eBay. Even $100 to $200 can be iffy.
@lars1963 said:
I'm gonna sell all my coins when I retire, to add the money to my retirement coffers. Is Heritage or another Auction site like that the best way to get the best value for the collection? I'll have about 75 coins, mostly Morgans.
Thanks in advance!
It depends a lot (no pun intended) on the market value of the individual coins. As a generalization, coins with lower market values tend to do ok on Great Collections (GC). Coins with “higher” market values can do well on Great Collections, Heritage, Stacks, and David Lawrence Rare Coins.
I suggest you take some time to look at the coins on auction on each of those, and figure out, if possible, what would be best for you. That’s not easy.
Steve
If "lower" is under $100, none of those venues is competitive with eBay. Even $100 to $200 can be iffy.
I don't disagree, and I buy a lot of "lower priced" coins on eBay and GC. But as an occasional seller, I'm not nearly as comfortable with eBay as GC. GC is so easy, no worries about separate shipments to each eBay buyer, along with the horror stories of crazy buyers i occasionally read about here. GC provides tremendous ease AND peace of mind, even if it means getting a few dollars less per coin.
A day without fine wine and working on your coin collection is like a day without sunshine!!!
It's also worth noting that the early bids don't enforce the increments. You have to go from 750 to 800 live or proxy (or775 cut bid). But you can enter an 805 bid early. So there is sometimes an advantage in not using the proxy
The auctioneers sure don't like when you do that. They are usually robotic and stoic, but when some oddball number comes in they recoil in disgust, one time the guy said 'that number is so weird I don't even know what comes next'
@lars1963 said:
I'm gonna sell all my coins when I retire, to add the money to my retirement coffers. Is Heritage or another Auction site like that the best way to get the best value for the collection? I'll have about 75 coins, mostly Morgans.
Thanks in advance!
If that is the goal, you should sell now. By banking the money earlier, you get the advantage of compounding that is unlikely to be matched by the coins. I don't know how old you are, but if you are more than one of two years from retirement, selling now is advantageous for retirement funds.
I get your point, & it's a good one. But my plan involves an estate sale when I retire, & selling these coins is part of that process. They won't necessarily be in the Estate Sale, but they will be in that chunk of money that I accumulate during that process. So I'm going to want that influx of cash at that time, not now. Thanks much.
Comments
Steve ... you let the cat out of the bag
OMG ... My Mother was Right about Everything!
I wake up with a Good Attitude Every Day. Then … Idiots Happen!
You're correct, and I recognize your comment was tongue-in-cheek, but in all seriousness I'd rather help many of the collectors on this forum even if it means a tiny bit more competition for the coins I want.
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Keep in mind that at the last minute you could incur a blackout or incur an internet failure so bidding live might fail. this increases the validity of what Winesteven has suggested.
I used to use this feature but stopped about 1-2 years ago. I want to remember I started getting notifications that someone else had a bid above my "Live Max Bid". I assume other competitors for the lot were also getting messages about where their bids fell. Maybe not accurate, but I felt I was getting into an auction prior to the auction. I only bid live. If I don't get it I figure just not meant to be.
I keep my life simple. I place my max bid and I'm done. If someone wants to pay more for a coin than I do, it is his / her coin. Very few specific coins I am interested in are so rare that I can't eventually find another one.
"Seu cabra da peste,
"Sou Mangueira......."
Those email messages are ONLY referring to active bids via the Proxy bidding system that are visible to the public immediately as they are placed. Those warning emails absolutely do NOT notify you when another bidder using the Live Bid system (which do not become active until the coin is actually on the block) has placed a secret max bid higher than your secret max bid.
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
On the other hand, the earlier that one bids, the higher the risk of buying a coin posthumously.
Nothing is as expensive as free money.
Steve, Thank you for that clarification. I appreciate it.
Hey, don’t put a whammy on this 74 year old! 😅
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
For a deceased coin collector that would send a message to his heirs that coins shoukd be bought not only sold.
That's arguably the best time to buy
By having placed my max Live Bid, I will win a “tie” against someone bidding on their computer as the coin is on the block, as well as any floor or phone bidder.
However, if someone else has placed the same dollar amount max Live Bid before you, you are out of luck unless you are monitoring the auction and willing to go higher.
True! Not only that, if someone placed a Proxy bid earlier, which is active immediately, and their max bid is the same as my max Live Bid, they win that tie too.
But to your specific point, that’s why I try to place my Live Bid max as early in the process as possible.
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
It's also worth noting that the early bids don't enforce the increments. You have to go from 750 to 800 live or proxy (or775 cut bid). But you can enter an 805 bid early. So there is sometimes an advantage in not using the proxy
I'm gonna sell all my coins when I retire, to add the money to my retirement coffers. Is Heritage or another Auction site like that the best way to get the best value for the collection? I'll have about 75 coins, mostly Morgans.
Thanks in advance!
That’s what I do, occasionally. Near the end of the early bidding period, if I see the current high bid is not too far from my mental max, I do exactly as you show, but only for coins that are at a bid increment of $500 or $1,000. For coins at the level of smaller bid increments, psychologically and financially it’s easier for others to just decide to pass my $805 and go to $850.
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
It depends a lot (no pun intended) on the market value of the individual coins. As a generalization, coins with lower market values tend to do ok on Great Collections (GC). Coins with “higher” market values can do well on Great Collections, Heritage, Stacks, and David Lawrence Rare Coins.
I suggest you take some time to look at the coins on auction on each of those, and figure out, if possible, what would be best for you. That’s not easy.
Steve
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
Of course. $800 was just an arbitrary example.
If that is the goal, you should sell now. By banking the money earlier, you get the advantage of compounding that is unlikely to be matched by the coins. I don't know how old you are, but if you are more than one of two years from retirement, selling now is advantageous for retirement funds.
If "lower" is under $100, none of those venues is competitive with eBay. Even $100 to $200 can be iffy.
I don't disagree, and I buy a lot of "lower priced" coins on eBay and GC. But as an occasional seller, I'm not nearly as comfortable with eBay as GC. GC is so easy, no worries about separate shipments to each eBay buyer, along with the horror stories of crazy buyers i occasionally read about here. GC provides tremendous ease AND peace of mind, even if it means getting a few dollars less per coin.
My collecting “Pride & Joy” is my PCGS Registry Dansco 7070 Set:
https://www.pcgs.com/setregistry/type-sets/design-type-sets/complete-dansco-7070-modified-type-set-1796-date/publishedset/213996
The auctioneers sure don't like when you do that. They are usually robotic and stoic, but when some oddball number comes in they recoil in disgust, one time the guy said 'that number is so weird I don't even know what comes next'
Throw a coin enough times, and suppose one day it lands on its edge.
I get your point, & it's a good one. But my plan involves an estate sale when I retire, & selling these coins is part of that process. They won't necessarily be in the Estate Sale, but they will be in that chunk of money that I accumulate during that process. So I'm going to want that influx of cash at that time, not now. Thanks much.