Quck Question on Heritage Bidding

Comments

• LoveMyLiberty Posts: 1,784 ✭✭✭

  April 19, 2010 6:58AM

  Your question sounds a little more complicated than a routine
  bidding question. You might try this toll free number:
  
  1-866-835-3243 this is their Direct Client Service Line.
  
  It seems that someone may have entered a bid just $1 over your
  max bid. A cut bid would normally be for half of the required increment.
  I haven't kept up with bidding rules for fax & mail. They usually follow
  the same rules requiring either full, or half increments, or they will be rounded
  up or down to the nearest full or half increment.
  
  Good luck.
  
  

  My Type Set
  
  R.I.P. Bear

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• gemtone65 Posts: 901 ✭✭✭

  April 19, 2010 7:01AM

  I would assume it means that you now know that what the maximum previously secret bid is of the high bidder -- one dollar above your last increment.

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• illini420 Posts: 11,467 ✭✭✭✭✭

  April 19, 2010 7:06AM

  During Internet bidding I'm pretty sure you can put any dollar amount as your max bid. Many Internet bidders try to use this to their advantage. For example, if I think a coin will win with a bid of $1000, I'll probably $1001. That way, if the current bidder's max bid is $1000, then I'm the new high bidder with $1001 and the next bidder must jump up to the next increment to beat me. I think that's how it works.

  Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448

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