Heritage Auction

[sports-rings]

I was reading the Heritage rules and procedures for their upcoming Sports Collectibles Auction and am confussed by their bidding rules.

They write about the 30 minute extended bidding time and explain that you can continue to bid on items if you have placed a single bid before the extended bidding begins.

I thought that once bidding ends, the lots will then be offered again during the live sessions. Does that mean I don't have to bid until the live sessions? It also looks like if there is only 1 single bid, they write that you win the item. Does that mean that 1 single bid stops the item from appearing later on in live bidding?

[slidekellyslide]

Someone from Heritage should be along any time now to school us simpletons on their bidding rules.

[vintagesportflips]

I'm not sure about the exact bidding rules, but it appears that the first session (first half of the catalog) is an internet,fax,phone bid auction only, and not a live auction, whereas the second half is a live auction, with internet bidding leading up to the live auction. Perhaps, the extended bid time only pertains to the first part of the auction.

[Heritage Sports]

Kjjavic has it exactly right.

Session One is the trading card portion of the auction. Initial bids must be placed by 10 PM Central time on the closing date, which is Thursday November 4th. At 10 PM, each individual lot begins a 30 minute countdown, which will restart every time a bid is placed. Only bidders who have placed a bid on that lot before 10 PM will be able to participate in the Extended Bid portion. When 30 minutes have passed on a lot without another bid, that lot will close.

Session Two is the memorabilia portion of the auction. The early bidding portion of that session will likewise close at 10 PM Central time on Thursday, but there will then be a Live Auction on Friday November 5th with the starting bid being the high bid at the close of the Internet bidding portion. In other words, if a lot stands at $550 at 10 PM on Thursday, it will open at $550 on Friday in the Live auction. There is no requirement to bid before the Live portion of the auction, so bidders may participate in any lot. Live bidding is possible either by requesting to bid by telephone, or by using our Heritage Live software which provides real-time streaming audio, video and bidding capabilities. And, of course, we welcome all visitors to our Dallas auction room to bid in person.

[jacksons]

How does it feel to be a Yankee fan living in Dallas right about now, Jonathan?

[Heritage Sports]

I was in the ballpark for ALCS Game One. That's all I'll say. ;)

[sports-rings]

Jonathan,

Thanks for clearing this up.

You have some great items in the catalog.

wish me luck (if this is allowed)

[margoaepi]

Jonathan,

I will be visiting my wife in Dallas and will be in town for the Friday live session (she lives just up the block). If I am a registered bidder with Heritage for the internet auctions, is there anything further I need to do to bid at the live session? Thanks.

[Heritage Sports]

I appreciate the kind words, sports-rings. And good luck in helping us to establish some more record prices! :D

Margoaepi, all you'll need to do is bring your ID to our first floor auction room at 3500 Maple and get a bidding paddle. The auction starts at 11 AM on Friday November 5. And good luck to you as well. If there are any lots you'd like to examine in person, we'll have lot viewing on Wednesday and Thursday November 3-4. Look forward to meeting you--make sure you introduce yourself on Friday.