Bid increments

[swarmee]

Some of Saco Rivers bid increments are awful too. That's why a lot of their bids end at $100. Next increment is $125. I'm not even a fan of 10% bid increments on Heritage or REA. Making those 3-5% would increase the numbers of bids and likely the competitive drive of the bidders to win the item.
Seems to be widespread, however, so there must be some "industry knowledge" or historical document that people believe it works.

[frankbmd]

High opening bids, excessive bid increments particularly at lower levels and not including buyer's premium in the viewable bidding history all seem to work against the auction house and hence the consignor's desire to maximize the number of bidders, and therefore increase competition between bidders to obtain the highest possible selling price.

But what do I know????

[ALR-bishop]

+ 1, or whatever increment is specified

[RedsFan1941]

Originally Posted by swarmee

Some of Saco Rivers bid increments are awful too. That's why a lot of their bids end at $100. Next increment is $125. I'm not even a fan of 10% bid increments on Heritage or REA. Making those 3-5% would increase the numbers of bids and likely the competitive drive of the bidders to win the item.
Seems to be widespread, however, so there must be some "industry knowledge" or historical document that people believe it works.

i just double-checked. neither Heritage or REA have 10 percent increments.

[swarmee]

Originally Posted by RedsFan1941

i just double-checked. neither Heritage or REA have 10 percent increments.

Ok, was going off the top of my head. Guess they agree with me. ;-) Appreciate the correction.

[pokerplyr80]

This is copied from the heritage website. I don't see anything I'd change if I were designing bid increments for an auction site.

Current Bid Bid Increment
< $10 $1
$10 - $49 $2
$50 - $99 $5
$100 - $199 $10
$200 - $499 $20
$500 - $999 $50
$1,000 - $1,999 $100
$2,000 - $4,999 $200
$5,000 - $9,999 $500
$10,000 - $19,999 $1,000
$20,000 - $49,999 $2,000
$50,000 - $99,999 $5,000
$100,000 - $199,999 $10,000
$200,000 - $499,999 $20,000
$500,000 - $999,999 $25,000
$1,000,000 - $1,999,999 $50,000
$2,000,000 - $9,999,999 $100,000
>= $10,000,000 $200,000

[AGuinness]

Originally Posted by pokerplyr80

This is copied from the heritage website. I don't see anything I'd change if I were designing bid increments for an auction site.

Current Bid Bid Increment
< $10 $1
$10 - $49 $2
$50 - $99 $5
$100 - $199 $10
$200 - $499 $20
$500 - $999 $50
$1,000 - $1,999 $100
$2,000 - $4,999 $200
$5,000 - $9,999 $500
$10,000 - $19,999 $1,000
$20,000 - $49,999 $2,000
$50,000 - $99,999 $5,000
$100,000 - $199,999 $10,000
$200,000 - $499,999 $20,000
$500,000 - $999,999 $25,000
$1,000,000 - $1,999,999 $50,000
$2,000,000 - $9,999,999 $100,000
>= $10,000,000 $200,000

This makes sense for increments. I might have landed the card in Leland's if they used this.

[chlankf]

I might have landed the card in Leland's if they used this.

+1

[Leon]

The key to winning an item is to pay more than anyone else. Increments have never bothered me too much. I bid what I want within the specified ranges. If I don't win it wasn't meant to be. I don't know if lower increments would help or hurt.

[Michael B]

Originally Posted by RedsFan1941

i just double-checked. neither Heritage or REA have 10 percent increments.

Heritage does appear to have 10% bid increments based on the bidding table posted by AGuiness. From $50 up it is 10% of the bid on the low end of the bid level and 5% on the high end. As an example: In the $50 to $99 bid level the increment is $5.00. That is 10% of $50.00 and 5.05% of $99.00. This holds true for every bid level up to $9,999,999.00

[RedsFan1941]

Originally Posted by Michael B

Heritage does appear to have 10% bid increments based on the bidding table posted by AGuiness. From $50 up it is 10% of the bid on the low end of the bid level and 5% on the high end. As an example: In the $50 to $99 bid level the increment is $5.00. That is 10% of $50.00 and 5.05% of $99.00. This holds true for every bid level up to $9,999,999.00

true. and a broken clock is right twice a day. of course there are going to be SOME increments that are 10%. what was stated is that ALL increments are 10% which is not accurate.

[Michael B]

Originally Posted by RedsFan1941

true. and a broken clock is right twice a day. of course there are going to be SOME increments that are 10%. what was stated is that ALL increments are 10% which is not accurate.

My statement was that Heritage DOES have 10% bid increments which refutes your earlier post:

Originally Posted by RedsFan1941 View Post
i just double-checked. neither Heritage or REA have 10 percent increments.

It does not matter if they have lower bid increments. At every bid level the starting bid increment is 10% which you stated was not true.

[AGuinness]

Originally Posted by Michael B

Heritage does appear to have 10% bid increments based on the bidding table posted by AGuiness. From $50 up it is 10% of the bid on the low end of the bid level and 5% on the high end. As an example: In the $50 to $99 bid level the increment is $5.00. That is 10% of $50.00 and 5.05% of $99.00. This holds true for every bid level up to $9,999,999.00

I don't deserve credit for posting that table, as I was quoting pokerplyr80...

[pokerplyr80]

Originally Posted by AGuinness

I don't deserve credit for posting that table, as I was quoting pokerplyr80...

I don't know how much credit I deserve for copying and pasting a table but I'll take it.

[bensie]

I like the bid increments at places like Leland's. If you get in early enough, you can basically 'perch' on the level right at the edge and get cards for less than they're really worth.

Conversely, the bid increment rules at Leland's, Goldin, etc are why I will never list lower valued cards with them...you simply cannot get the best value for your cards with them. Cards in the $100-$300 price range go to ebay BIN/BO or straight to PWCC/Probstein.