I'm confused - Mile High

[Shoeless Moe]

http://milehighcardco.com/Spectacula...-LOT88618.aspx


1 bid

18K


Huh?


Shouldn't 1 bid be at 3500? The starting Bid.

[Mark17]

Originally Posted by Shoeless Moe

http://milehighcardco.com/Spectacula...-LOT88618.aspx


1 bid

18K


Huh?


Shouldn't 1 bid be at 3500? The starting Bid.

Had they used the max bid feature, yes. Looks like they made a straight bid of $18,807 instead.

[perezfan]

Originally Posted by Mark17

Had they used the max bid feature, yes. Looks like they made a straight bid of $18,807 instead.

That must be what happened. If they really meant to bid this way, that's an interesting strategy (to freeze everyone else out from the start). Not my particular bidding style, but hey, it might work!

[Mark17]

Originally Posted by perezfan

That must be what happened. If they really meant to bid this way, that's an interesting strategy (to freeze everyone else out from the start). Not my particular bidding style, but hey, it might work!

I have no idea what that thing is worth, but my fear would be that I'd perhaps be paying thousands more than necessary.

And I'd bet the bidder meant for it to be a max bid, due to the odd amount. That is helpful sometimes with max (hidden) bids but gives no advantage on a straight bid.

[mrreality68]

Originally Posted by Mark17

I have no idea what that thing is worth, but my fear would be that I'd perhaps be paying thousands more than necessary.

And I'd bet the bidder meant for it to be a max bid, due to the odd amount. That is helpful sometimes with max (hidden) bids but gives no advantage on a straight bid.

+1 agree.

It could be a mistake and put in as a straight bid instead of a MAx or perhaps it was his plan.

I have done that strategy a few times hoping to scare people off and the results were mixed

[steve B]

I've done it a couple times in live auctions, mostly just started at about 75% of my max and hoped it ran off a few casual bidders. But it takes a feel for if there are any other bidders that really want it.

[perezfan]

There will be plenty of collectors who really want the Reach Sign in Mile High. But that first bidder set the bar pretty high. Will be interesting to see if the bid holds up throughout the duration.

[ooo-ribay]

That thing has a certain Net54’er written all over it….

[Shoeless Moe]

Originally Posted by ooo-ribay

That thing has a certain Net54’er written all over it….

Haha I thought the same thing.

If......he doesn't have it already.

[Vintage Yankee]

Same with the Reach baseball tin litho...

https://milehighcardco.com/Circa_191...-LOT88620.aspx

[ruth-gehrig]

Originally Posted by perezfan

There will be plenty of collectors who really want the Reach Sign in Mile High. But that first bidder set the bar pretty high. Will be interesting to see if the bid holds up throughout the duration.

Keep in mind Mile High allows hidden reserves and will bid on behalf of consignor up to reserve price. These signs are not even close to what they sold for 2 years and less than 1 year ago respectively

Per MH website
d) Minimum Bids- Each and every lot within the auction does have a minimum bid designated in both the catalog as well as online. A very few of the lots in the auction have a reserve price (please note the vast majority of the lots within the auction do not have a reserve price) A reserve price is the confidential minimum price that a consignor will accept before they will sell the material, this means that a bid of equal or greater than the confidential reserve must be placed for a successful bid to be accepted on that lot. MHCC may implement this reserve by bidding on behalf of the consignor and may place a bid up to the amount of the reserve, by placing successive bids if necessary. In the limited instances where MHCC has a financial interest in a lot beyond our commission, we may place a bid to protect our financial interest. Reserves when in place will be pre-determined and set within the auction software prior to the start of the auction. Again, please note the vast majority of the lots in every auction will be offered without a confidential reserve in place. For all items in the auction (unless an item is withdrawn during the auction)without a reserve, they will be sold to the highest bidder at or above the minimum bid.

[perezfan]

Originally Posted by ruth-gehrig

Keep in mind Mile High allows hidden reserves and will bid on behalf of consignor up to reserve price. These signs are not even close to what they sold for 2 years and less than 1 year ago respectively

Per MH website
d) Minimum Bids- Each and every lot within the auction does have a minimum bid designated in both the catalog as well as online. A very few of the lots in the auction have a reserve price (please note the vast majority of the lots within the auction do not have a reserve price) A reserve price is the confidential minimum price that a consignor will accept before they will sell the material, this means that a bid of equal or greater than the confidential reserve must be placed for a successful bid to be accepted on that lot. MHCC may implement this reserve by bidding on behalf of the consignor and may place a bid up to the amount of the reserve, by placing successive bids if necessary. In the limited instances where MHCC has a financial interest in a lot beyond our commission, we may place a bid to protect our financial interest. Reserves when in place will be pre-determined and set within the auction software prior to the start of the auction. Again, please note the vast majority of the lots in every auction will be offered without a confidential reserve in place. For all items in the auction (unless an item is withdrawn during the auction)without a reserve, they will be sold to the highest bidder at or above the minimum bid.

Yes, but if Mile High was indeed bidding on behalf of the consignor, you would see more than the single bid registered. You would see multiple bids.

Also, for that scenario to have happened, the legitimate bidder would have had to place a max bid as opposed to a straight bid of $19,748.00. Regardless, it will be interesting to see where it ends up!

[ruth-gehrig]

Originally Posted by perezfan

Yes, but if Mile High was indeed bidding on behalf of the consignor, you would see more than the single bid registered. You would see multiple bids.

Also, for that scenario to have happened, the legitimate bidder would have had to place a max bid as opposed to a straight bid of $19,748.00. Regardless, it will be interesting to see where it ends up!

I interpret the rules a bit differently allowing the house to bid up to the reserve but not necessarily having to do so immediately after previous bid. Perhaps I am wrong.

Nevertheless these are awesome signs! I've only owned the Burley Bat sign out of this set and they pack a punch, phenomenal graphics! I hope the seller gets his price and is happy at auction close