Heritage Live is a Joke!

amwldcoin · December 8, 2011 11:07PM

Well...seems Heritage doesn't like to give internet bidders a chance! They were strolling through the lots and closing so fast that I understand why I don't like to sell through Heritage!

I was waiting for a coin I wanted....came up,I immediately bid and was outbid. The lot was open all but maybe 2 seconds! What gives with Heritage? BID BID Closed.

There was no way in H I could get another bid in.

Tiny · December 8, 2011 11:12PM

Never used the live but I will bid my best shot to start with
and if I get it I get it what the hey.

notwilight · December 8, 2011 11:13PM

You can bid as fast as you can click the red button. Is your internet connection lagging?

amwldcoin · December 8, 2011 11:19PM

<< You can bid as fast as you can click the red button. Is your internet connection lagging? >>

Wasn't experincing any lag. The lot closed so fast I didn't even realize I had lost! It would seem to me that in the interest of consignors Heritage would wait a few seconds before hammering a lot closed if they have active bidding!

Amigo · December 8, 2011 11:41PM

Heritage Live is great in some ways. It all depends on how active the floor bids are and how the auctioneer runs it. Usually the auctioneer gives all the benefit of the doubt to the floor bidders.

I won an item thru Heritage Live Wednesday. It was there Silver auction. The pace was nice and slow with plenty of time to get internet bids in. Fact it, it appeared most that won were Internet bidders. I hear you though. I usually bid on their Currency auctions and can get ran over pretty fast. When it comes to an item I really want, I usually have a floor rep do my bidding.

timcoin · December 8, 2011 11:44PM

Other than the entertainment value that goes along with live internet bidding, I can't see why someone wouldn't just place their maximum bid during the pre-live portion of an auction and forget about it. Is it a trust issue?

TomB · December 9, 2011 12:03AM

I'm assuming that the auction also had a floor component to it, but of course I could be wrong. When I have been on the floor at Heritage auctions it always seems like the internet bidders slow the process down, likely from computer lag, and that auction lots many folks thought were closing stay open a little longer. Perhaps they recently changed how they do this.

Bayard1908 · December 9, 2011 12:10AM

<< I'm assuming that the auction also had a floor component to it, but of course I could be wrong. When I have been on the floor at Heritage auctions it always seems like the internet bidders slow the process down, likely from computer lag, and that auction lots many folks thought were closing stay open a little longer. Perhaps they recently changed how they do this. >>

They'll even reopen lots for a Heritage Live bid that was recognized late. In my experience, Heritage Live works excellently and is the best live bidding platform at any auction house.

RYK · December 9, 2011 12:11AM

<< Other than the entertainment value that goes along with live internet bidding, I can't see why someone wouldn't just place their maximum bid during the pre-live portion of an auction and forget about it. Is it a trust issue? >>

Bingo! I use HL for entertainment only. If I really need/want/expect to buy the coin at auction, other arrangements have been made in advance.

segoja · December 9, 2011 12:14AM

Never had an issue with it.

Why not place a bid prior to the auction if you really want the coin. You know what you'll pay for it, so why not put that in?

Manorcourtman · December 9, 2011 12:46AM

Never had a problem with it. I take that back, I can't seem to stop bidding on stuff I want when it's live

OnlyGoldIsMoney · December 9, 2011 1:04AM

For me Heritage Live is the Coin Entertainment Network.

My serious bids are always submitted way beforehand.

JCMhouston · December 9, 2011 1:38AM

Sometimes they do go pretty quickly on lower priced items. But overall I love it, mainly I am like others and if there is a lot I really want I have a bid in before the auction goes live. Mainly I bid on smaller items on Live if I have any money left over after the "really want" bids get executed. I also agree it is by far the best live bidding software being used today.

LindeDad · December 9, 2011 1:47AM

I have been able to increase my bid when out bid several times, almost alway making it possible to pay more than I wanted for the items.

MFH · December 9, 2011 2:03AM

I hear you, I once hit the bid button a millisecond before the lot closed
and, ended up bidding on the next lot, which I ended up winning but sold
it shortly thereafter at a show and broke even. I was lucky. With the amount
of lots HA has to plow thru, I can see why they are too quick at times.

At the sale of my Barbers this past August, some bids were slow on line,
the auctioneer had closed one lot verbally, but more bids kept streaming
in and the lot actually had five more bids and that equated to $5,000 more.

Either have less lots per session or spend more time per lot. I understand
the ramifications of having too many lots as they tend to speed thru the lots;
one reason is that many people just bid on line now and don't feel obligated to
attend the auction in person anymore. , as it is the sessions are quite long and
I feel for the auction staff. When there is a time difference (CALIF vs NY ) some
auctions run into the wee hours of the morning. I would like to see the CALIF auctions
start sooner as going to bed at 2-3 AM on the East Coast ruins me the following day.

Only the Platinum Auctions seem to have major attendance and the auctioneers
also move along at a fast clip. Not as fast as the regular sessions however. The
Internet Only auctions move even faster but if you are aware of that, you tend
to stay on your toes !!

Lakesammman · December 9, 2011 2:17AM

Agree with above - would never bid live on a coin that I really wanted. Even phone bidding can go bad.

Either bid ahead, in person or with a rep.

jt88 · December 9, 2011 2:19AM

I used Live before and it worked for me but you need to be very carefull with your bid otherwise you might over bid it.

amwldcoin · December 9, 2011 2:23AM

I must say I have never seen them plow through the lots as fast as they did last night. I have been quite successful in the past with heritage live. I guess you could say I don't like proxy bidding as I always seem to win everything at my max bid...some of which I consider a buy bid(bid too much to make sure I win). I knew I was going to have to be fast on the bid button. It seemed many lots were only open for a couple of seconds before they closed. I don't think I would have gotten my bid in if I hadn't hid the bid button the milisecond the lot opened. I am serious when I say from my view my bid went in,and within a second the lot closed with me being out bid by another heritage live bid!

I consigned them some coins recently and was watching them on heritage live. It amazed me to see them drag on and on on some lots which were garnering no bids. I had a particular coin receive 5 or 6 bids in seconds and they hammered the lot closed a second after the last bid. Something is just not right IMHO!

NumbersUsacom · January 16, 2012 1:53PM

I agree. I had bid on an item was outbid and immediately hit the bid again but they closed it inthat same 1/2 second. I called them on the floor and asked for assistance and also for them to reopen the bidding they asked the auctioneer he said no. I'm telling you I feel sorry for consigners they are being short changed and sometimes that change is
very tangible indeed.

Heritage REALLY needs to correct this situation.

poorguy · January 16, 2012 2:04PM

Hmm. I seem to recall several instances where I was watching the lots I prebid on go through using heritage live. I was willing to throw a few more bucks at the coins if I got outbid at the last moment. They went through the lots fast and my lot came up. Open...got outbid...hit the bid button...screen says sending bid...lot closed...thought I lost...Bing...lot reopened cuz it took a few seconds for my bid to come through...lot closing....I win. Seemed to work for me.

kiyote · January 16, 2012 2:20PM

Heritage Live? Heritage Buy It Now is hard enough to navigate for me. Any other click I do, like sort by price or show PCGS only seems to reset my "Classic Commemoratives" filter and bam; I'm looking at colonials again.

Twinturbo · January 16, 2012 2:47PM

Why dont you just place a competitive pre-bid?
I mean thats why the auctions open up for prebids a week or two ahead.

GoldenEyeNumismatics · January 16, 2012 3:00PM

Heritage Live is fantastic. It is a great interface and works great.

jayPem · January 17, 2012 1:24AM

<< Why dont you just place a competitive pre-bid?
I mean thats why the auctions open up for prebids a week or two ahead. >>

Bidding wars. It's no different than e-bay, there's usually some pre bidder out there who cant resist the temptation to stay on top.
I usually go with proxy bids when I've used Heritage live in the past......but I too have had many proxy bids close right at my maximum.
I'm not saying there is anything fishy going on.....but I've moved on to other venues for the most part.

kimber45ACP · January 17, 2012 1:59AM

<< 

<< Why dont you just place a competitive pre-bid?
I mean thats why the auctions open up for prebids a week or two ahead. >>

Bidding wars. It's no different than e-bay, there's usually some pre bidder out there who cant resist the temptation to stay on top.
I usually go with proxy bids when I've used Heritage live in the past......but I too have had many proxy bids close right at my maximum.
I'm not saying there is anything fishy going on.....but I've moved on to other venues for the most part. >>

During the last FUN auction, I had a price guide bid in place and went nuclear with a proxy bid during the live auction, just in case.
Only one bid came in during the live auction, which moved me to my price guide bid. The nuclear proxy was untouched.

Heritage Live is a Joke!

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