Do Heritage's 'Auction Previews' help or hurt their business?
ColonialCoinUnion
Posts: 10,087 ✭✭✭
While I enjoy looking to see whats coming in some future Heritage auction, I do wonder if this is a good thing for them to do or not.
Maybe some people are bidding less in a current Heritage auction becuase they are waiting for some coin that will be in the next one, or the one after that, or even the one after that.
While some other auction houses have sent info previewing a major event (ANR and the Cardinal collection come to mind), I've always assumed those efforts were based on marketing commitments made by the auction house to secure the consignment in the first place. Other companies have historically played it very close to the vest evidently thinking that its better to be mysterious about future sales.
But what Heritage is doing is different - they just show everything coming up without any fanfare or specific attempt to increase participation or drive bids higher.
Maybe some people are bidding less in a current Heritage auction becuase they are waiting for some coin that will be in the next one, or the one after that, or even the one after that.
While some other auction houses have sent info previewing a major event (ANR and the Cardinal collection come to mind), I've always assumed those efforts were based on marketing commitments made by the auction house to secure the consignment in the first place. Other companies have historically played it very close to the vest evidently thinking that its better to be mysterious about future sales.
But what Heritage is doing is different - they just show everything coming up without any fanfare or specific attempt to increase participation or drive bids higher.
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Doggedly collecting coins of the Central American Republic.
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I firmly believe in numismatics as the world's greatest hobby, but recognize that this is a luxury and without collectors, we can all spend/melt our collections/inventories.
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Russ, NCNE
<< <i>is that it enlists the help of site users in proofing the catalog before it is printed. I know I've caught a couple of errors .... >>
It's a method of helping out with their workload without paying for it......
I'm sure Heritage appreciates your help, Andy.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>A collector might suspend purchases with other auction firms or retailers if they see a desirable coin in a future Heritage auction. >>
Possibly, but as a collector I consider that a Good Thing.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
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