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It looks like I got skunked at Heritage!
renomedphys
Posts: 4,011 ✭✭✭✭✭
Well, today they had their Platinum Night auction and there were coins I was bidding on. Along comes a lot that I had marked, it was about to hammer, I made a cut-bid, and it looked like my bid was accepted. I guess I was confused because I legitimately saw my bid accepted and I saw it was at that price, and the hammer fell.
Look at this!
Anyway I called Heritage to see if in fact I was the winner and they said that another bid same as mine came in literally milliseconds before mine!
I sure wish I had known, I would most assuredly bid again 🤦🏻♂️🤦🏻♂️🤦🏻♂️
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I've been there, but at Stack's. I think their website and app are worse than Heritage in terms of making it obvious what your status is. I once slid the slider to place my bid (a cut, I think), and it got all the way to the right and the bid was at the amount I had bid, so when the lot closed I celebrated until I realized I'd lost. I surely would have placed another bid if I had realized I wasn't winning.
For both, I really wish they'd make it super obvious. On every lot, show very clearly one of these:
You are WINNING
You are LOSING
You have not placed a bid on this lot
That is incredibly frustrating. Is that a 1794? I can't quite make it out.
Millisecond? Ouch!
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW
Sheldon 22, MS62. Ex Sheldon. Cool pedigree. I had 26k bid in my notes but I might have gone one more. Live auction fail.
Empty Nest Collection
Can you use a snipe on their auctions?
I'm not understanding
Wasn't the auctioneer paying attension?
If bids are still coiming in why did he drop the hammer?
I watch many auctions and there is always a delay after the last bid before the hammer drops
Sorry you lost
Mike
My Indians
Dansco Set
It's not a hard close.
All comments reflect the opinion of the author, even when irrefutably accurate.
No. All Heritage auctions (internet only or live+internet) are traditional auctions in the sense that they go one lot at a time, and a lot doesn't close until all bidding activity is completed.
If it’s something you really really have to have then you really should use a representative in the room
And traditionally I would have been at all these auctions myself, until they were all brought back in shop-side. When was that? Covid? I realize that this is a “me” problem as I do have a tendency to rely too heavily on convenience.
Empty Nest Collection
If it’s something you really really have to have then you really should use a representative in the room
On an item of that caliber, I always call Heritage and arrange for phone bidding. The Heritage phone reps sit in the front row in the auction room and the auctioneer won't close the lot until all phone bidders are done. I have never missed out on a lot going that route.
Member ANA, SPMC, SCNA, FUN, CONECA
If I understand correctly, the OP saw that the new bid was the amount he had bid, but did not notice that he was not the new leading bidder. A bid accepted is not necessarily the new leading bid. Neither he nor anyone else entered another bid, and some seconds could have passed before the hammer fell.
But if two of the same bid come in at almost the same time, I'd think the latter one would not be "accepted". So something does still seem off, if the details provided are accurate.
Collector of Liberty Seated Half Dimes, including die pairs and die states
@MFeld - for an online bid, is it so that 2 same amount bids "at the same time" wouldn't necessarily show "outbid" to the second, losing bidder? what would happen if a floor bidder hit first and an online bidder hits at the same amount as the floor bidder hits?
If I recall correctly, the Heritage bidding interface will disable the bid buttons (one for full increment, one for cut bids) when you are winning. So, if you see active bid buttons, you're not winning.
Collector of Liberty Seated Half Dimes, including die pairs and die states
Better to use “live proxy” bidding than roll the dice with HA’s janky software.
Nothing is as expensive as free money.
I believe this is “the best kept secret at Heritage”. Most bidders probably don’t know what this is. I’ll try to explain it:
Once an auction opens for accepting “Proxy” (active) bids several weeks before the live auction, so does their “Live Proxy” tool. This allows you to place your max bid (“on increment “) at your convenience. Your Live Proxy bid though is NOT activated until that lot actually goes on the block weeks later. In the meantime, if you change your mind a few days or more after placing your Live Proxy bid, you can cancel it, you can increase it or decrease it, as long as that lot has not gone on the auction block.
Here are the advantages:
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
I’m sorry, I don’t know whether two online bids of the same amount can arrive “at the same time” or what would happen if they could.
Regarding your second question - if a floor bidder’s bid is received before a live online bidder’s bid of the same amount does, I believe that that the online bidder’s bid wouldn’t be accepted. However, it would be best to call client services to check on this.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Timing is everything.
Along with a hefty bank account.
I had the same thing happen once, thought I had won and quickly noticed I was out bid.
I did not bid again as I did not want to go higher, but had to make quick call before hammer.
I have not used the phone bidder route, but if I was someone who had to have a coin I would use it.
(note: took me 6-7 years to finally get a coin for slightly more and I prefer, sometimes patience is a virtue.
Now if only a couple exist and in strong hands, chances can be very few) .
>
Good luck to all in pursuit of your goals.
how does live proxy show up online during the live bidding? "live proxy?"
No. I believe it shows up as Heritage Live, the same as someone actively placing a bid from their computer. However, if YOU are the bidder via Live Proxy, you will see on the screen as either "you are the high bidder" (or something like that), or, if you've reached your max and someone bid higher, it will show you that "You were Outbid".
Here's a key point I omitted above with my detailed explanation: If two potential bidders enter the SAME max bid via Live Proxy (like $4,000 each person on the same lot) the person who entered it FIRST will be the one that "owns" that max bid. However, the other collector will not know that, until they see they were not the high bidder when that max level was reached when the coin was on the block. That's why I enter my "Live Proxy" bids as soon as possible once the bids open a few weeks before the actual auction.
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