Bidding on Heritage auctions

JamesW

I don't post very often but visit and read here everyday. I am hopeful someone can give me some direction on making a bid for a coin coming up on Heritage. I am registered but have never bid on anything. Right now you can make bids prior to a live auction an it appears that is being done. For example if the current bid is $100 with next bid being $110, but I am willing to pay up to $1000, will I be the high bidder at $110 or have I committed to pay $1000 unless someone else bids higher? I don't like jumping into something without a good understanding, if someone is willing to give me an explanation how it works I would greatly appreciate it.

tightbudget

You would be the high bidder at $110. The only way you'd pay $1000 is if someone bid it up that high.

Justacommeman

You will be the next hight bidder at $110 unless somebody else already has a higher bid in. If for example somebody already has a high bid at $300 and that's the highest current bid on the Heritage system your $1000 will take you to the next highest incremental bid above $300. You are now the new high bidder. If somebody else beats your bid the system will automatically make you the next high bidder up to $1000. Shampoo, lather, rinse, repeat all the way up to you max bid. If the bid is at $700 and no one bids higher you will win it there. Don't forget you could still get unbid during HeritageLive but your max bid of $1000 is still in play.............MJ

JamesW

Thank you.

If you win the auction then you will pay an additional 15% + the shipping charges?

Justacommeman

<< <i>Thank you.

If you win the auction then you will pay an additional 15% + the shipping charges? >>



Yes, so in reality your all in bid is $1150.

You can save 1% by paying by e-check. First hit that you want to pay by CC. A screen will come up offering you 1% off if you pay by e-check. That way you will save $11.50 and it will help defrey some of your shipping costs. MJ

FredF

<< <i>You can save 1% by paying by e-check. >>



The problem with the e-check is that it adds a significant delay to the time that they will ship, at least in my limited experience. Plus, I get 1% rewards on my credit card. So all in all, I would recommend credit card payment.

-Fred