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How do the reserves at Stack's-Bowers work??
Ed62
Posts: 857 ✭✭
If they post a reserve price of, say, $5,000 -- and assuming no one else bids -- does that mean you can/will win the lot at $5,000; or $5,010; or $5,500 (if the next bid increment is $500)??
Is it different than Heritage, where you will win the lot at the reserve price (plus the juice, of course).
Is it different than Heritage, where you will win the lot at the reserve price (plus the juice, of course).
Ed
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In the November Baltimore sale, there was a coin I wanted, an 1810/09 large cent in PCGS AU58. It had previously sold as lot 3077 in a Heritage sale in April for $10,925 in a PCGS AU55 holder. Shortly thereafter it appeared on a well-known dealer's website in an AU58 holder for $13,500 (the crackout game is far from over).
Upon seeing the same coin in the November Stacks-Bowers sale as lot 3008, I bid $10500 online. When the reserve was posted a couple of weeks later (which just happened to also be $10500) the computer listed me as the high bidder at $10000 and the reserve unmet, with the next bid available at one increment ($1000) higher so $11000. I called Stacks-Bowers and explained that I should get the coin at the reserve of $10500 since that is what I actually bid. They agreed, and I won the lot at that amount as no other bidders (floor or internet) bid any higher.
<< <i>The answer depends upon the circumstances.
In the November Baltimore sale, there was a coin I wanted, an 1810/09 large cent in PCGS AU58. It had previously sold as lot 3077 in a Heritage sale in April for $10,925 in a PCGS AU55 holder. Shortly thereafter it appeared on a well-known dealer's website in an AU58 holder for $13,500 (the crackout game is far from over).
Upon seeing the same coin in the November Stacks-Bowers sale as lot 3008, I bid $10500 online. When the reserve was posted a couple of weeks later (which just happened to also be $10500) the computer listed me as the high bidder at $10000 and the reserve unmet, with the next bid available at one increment ($1000) higher so $11000. I called Stacks-Bowers and explained that I should get the coin at the reserve of $10500 since that is what I actually bid. They agreed, and I won the lot at that amount as no other bidders (floor or internet) bid any higher. >>
That $1000 increment seems large (10%).
<< <i>That $1000 increment seems large (10%). >>
From Stacks-Bowers:
Bid Increment
$0.00 - $19.99 $1.00
$20.00 - $49.99 $2.00
$50.00 - $99.99 $5.00
$100.00 - $199.99 $10.00
$200.00 - $299.99 $20.00
$300.00 - $499.99 $25.00
$500.00 - $999.99 $50.00
$1,000.00 - $1,999.99 $100.00
$2,000.00 - $2,999.99 $200.00
$3,000.00 - $4,999.99 $250.00
$5,000.00 - $9,999.99 $500.00
$10,000.00 - $19,999.99 $1,000.00
$20,000.00 - $29,999.99 $2,000.00
$30,000.00 - $49,999.99 $2,500.00
$50,000.00 - $99,999.99 $5,000.00
$100,000.00 - $199,999.99 $10,000.00
$200,000.00 - $299,999.99 $20,000.00
$300,000.00 - $499,999.99 $25,000.00
$500,000.00 - $999,999.99 $50,000.00
$1,000,000.00 - $1,999,999.99 $100,000.00
$2,000,000.00 - $2,999,999.99 $200,000.00
$3,000,000.00 - $4,999,999.99 $250,000.00
$5,000,000.00 - $9,999,999.99 $500,000.00
$10,000,000.00 and Up $1,000,000.00