[t206hound]

Originally Posted by pokerplyr80

It's actually a common practice on Heritage and is posted in their terms and conditions. As are these:

"Nominal Bids. The Auctioneer in its sole discretion may reject nominal bids, small opening bids, or very nominal advances. If a lot bearing estimates fails to open for 40–60% of the low estimate, the Auctioneer may pass the item or may place a protective bid on behalf of the consignor."

"The Auctioneer, its affiliates, or their employees consign items to be sold in the Auction, and may bid on those lots or any other lots. Auctioneer or affiliates expressly reserve the right to modify any such bids at any time prior to the hammer based upon data made known to the Auctioneer or its affiliates."

In my opinion, these practices seem very similar to those in the Mastro auctions. At least they're not trying to hide them but if any other AH were doing this I think a lot of people on this site would not be happy.

Jake is also correct in that Heritage mentions a consignor may have to pay a reduced commission if an item doesn't sell for the minimum reserve. They also say the consignor can bid the item up past this minimum, but if they win they're responsible for the full commission.

That is not what occurred in this case. This item had a reserve; Heritage auction lots ALL have a message stating that "Reserve (if any) Will Post On" statement.

Here's there info on reserves:

Reserve (If Any) Not Posted Yet:

Although many lots will not get reserves, this signifies that we have not yet posted any reserves to this entire auction. Reserves are usually posted approximately 3 days prior to the closing for Internet-only auctions, and approximately 7 days prior to the live session for Signature auctions. At that point, any unmet Reserve will become both the price shown (with an asterisk) and the Minimum Next Bid, regardless of any previous bids.

Consignor Has Not Yet Submitted a Reserve:
Although the consignor's agreement allows a reserve on this lot, the deadline for submitting such a reserve has elapsed. If consignor submits a reserve post-deadline and the item fails to meet that reserve, we may charge the consignor a higher reserve fee.

No Reserve:
This lot is being sold without a consignor reserve. (Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)

Reserve Not Met:
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.

Reserve Met:
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.

Opening Bid:
Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).