Peculiar how the bids on the Heritage auctions are....

saintguru

ONE BID AWAY from reserve on many of the more costly coins....

MikeInFL

I've wondered about that for some time now. Strange how that happens. And Heritage isn't the only place. Hmmm....Mike

dorkkarl

yup. i hate that cr@p.

K S

franklin200

This has been discussed MANY times in the past. Heritage no longer uses hidden reserves on its auctions. About a week before the auction ends, if a lot has not met its reserve the bids are automatically advanced to one increment below the reserve, this way you know what the reserve is.

MikeInFL

Thanks, man.

saintguru

boyhowdy

When we do that it's called shill bidding.

Steve

RYK

I like it better than the old way, when you did not know what the reserve was.

joefro

<< <i>This has been discussed MANY times in the past. Heritage no longer uses hidden reserves on its auctions. About a week before the auction ends, if a lot has not met its reserve the bids are automatically advanced to one increment below the reserve, this way you know what the reserve is. >>



Wow, I have heard this subject discussed many times in the past, but I hadn't heard the reasoning behind it all. Makes a bit more sense now, thanks!

Dennis88

<< <i>ONE BID AWAY from reserve on many of the more costly coins.... >>



I thought you would know better

Dennis

Robgetty

It makes sense to me: too many times before I've heard people complaining that they didn't win an auction because they were below the reserve and didn't know it. This way you know before the internet portion closes that if you don't win it is because someone outbid you, not because you didn't realize that a small additional amount would push it over the reserve.

Barry

I like it this way. If the reserve is too high for my tastes, I don't waste time bidding/watching the coin.

BTW, it says right at the bottom of the page that the price is set one increment below reserve.

mozin

I like the way Heritage indicates "next bid meets reserve". I wish they would also list the highest actual bid.

jdimmick

Actually, I like it this way.

The reserve is what it is. At least I know the minimum it will take to buy the coin. I would hate to lose out on a coin that I was just a very small percentage shy of meeting the reserve and lost an opportunity to take it home.

morsini

To update the situation, Heritage is now starting to post both the reserve and the current bid level on the web-site. We hope this helps to increase the transparency and decrease the confusion during the bidding process.