Stacks Auction "Reached Bid Limit" Issue
Matt04
Posts: 490 ✭✭✭✭
Has anyone else had this happen before?
I waited all day to bid live on a single coin I had been looking for, only for the site to tell me, “You have reached your Bid Limit,” even though I hadn’t placed a single bid all day.
I’ve never had this issue once with GreatCollections, so this was extremely frustrating. I basically wasted the entire day waiting for that coin just to be blocked from bidding at the moment it came up.
Never had this issue once with Great Collections, is this a Stacks thing? Terrible experience/Time wasted.
0
Comments
Have you bid on coins in their sales previously and if so, up to or more than the the amount of the one today?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
The standard auction procedure is for new customers to be set at a standard base level, and you can request a higher bid limit with proof of funds. If you are a new customer and bidding on rarities-level coins, then you will reach it quickly.
Stack's Bowers auction basics:
https://stacksbowers.com/about-us/faqs/auction-basics/
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
I've bid in the past yes, unsure specifics, the price was 2-3k on the previous bid I had done some months back, but this particular piece was also below 10k.
Got it, maybe its just a stacks thing, ill reach out. I never dealt with any sort of limit or block to bid at Great Collections. Infuriating finding this out the moment I attempted to bid on an item waited all day for.
Based on the information provided in the post by @jacrispies it sounds like you can find out your current limit by accessing your profile information on their site. Best of luck.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
I anticipated the issue and called Stack’s in advance of the auction. They were very accommodating and increased the limit. Unfortunately I ended up as the under bidder on two Items of interest. And while that was an unfortunate outcome, I am looking at this from the perspective that someone wanted them more than me.
Experience the World through Numismatics...it's more than you can imagine.
The default bid limit is $5,000. Like @coinkat, I’ve contacted them to increase my limit in anticipation of placing larger bids, though those efforts ultimately proved unsuccessful.
To see your limit, log in, click Profile under your name, and you'll see it:
chopmarkedtradedollars.com
Yes just had it increased, I really wish they informed you of these things ahead of the auctions. Never had to request a bid increase with great collections or anything remotely close
GreatCollections also assigns bid limits. It is a common practice with auction houses.
Nothing is as expensive as free money.
This has happened to me many times with overseas auction houses, including Heritage Auctions Europe.
Agreed, it’s VERY frustrating after waiting hours (sometimes at odd times) to bid.
Now, I always ask for a limit of at least 3-5 times what I anticipate spending.
I will say that GC appears to increase bid limits automatically over time as bidders establish a solid history of bidding and prompt payment. My current limit is a ridiculously high amount (greater than the total value of my collection) even though I've never requested an increase.
chopmarkedtradedollars.com
interesting, at least 10k is reasonable, when an entire session lot has coins no cheaper than 5-6k on average.
Now I know for future auction house bids.
Very easy to change especially if your a long time customer, couple years ago, I was wanting to bid on like a 75k coin, they raised it to 5x that. Said I dont need that high, they said we'll you never know
Stacks Bowers actually reached out to me about increasing my limit. I put in a bid of about 4k the morning of the auction (my limit was 5k) and got a phone call from them asking if I'd like to increase my bid limit. I declined then since that was my personal max but did fill out a form some time later with no hassle.
some time during the account set up your bid limit is displayed
Years ago, when I made my all time high priced purchase, I called Stacks in advance to get my limit raised. Fortunately I was able to make a successful bid.