Heritage Auctions

[Jaybird]

Originally Posted by Heritage Sports

We hide nothing. [/URL]

You're hiding whether it is you or a legitimate bidder bidding on the item. I don't know if it is the house bid, Cousin Fred, or another interested bidder. Disclose the house bids. Put a little red flag out there that said the last bid was a house bid. Then I know when I'm placing a bid, who I'm topping.

Originally Posted by Heritage Sports

We maintain a public database of every single lot we've ever sold. [/URL]

Interesting point. How about if that same public database didn't hide the fact that Heritage had won that particular lot? Shouldn't the people looking at that database know when Heritage has bid and won the lot? It would mean a lot to me and would make a difference in how I value that item.

Originally Posted by Heritage Sports

I hope to hear some brave voices that will echo that sentiment and try to draw this board back out of the high school lunch room.[/URL]

Everyone here is having a little fun but also asking serious questions. The response that you feel hurt and that it's high school only serves to try and minimize the people asking the hard questions. Answer the direct questions instead of commenting about your hurt feelings. It's a business.

[Maddog]

They can't answer these questions directly because the facts speak for themselves.
I'm sure all are familiar with the old Duck analogy.
The auction houses are confident in themselves because there seems to be the impression that it is better to deal with an auction house than a dealer. Personally, I have more confidence dealing with a Jim S and Rich S than I do with any auction house.
Insider trading is illegal, I fail to see how in the scheme of things shill/"house" bidding is really any diferent? As long as one party has an unfair advantage over the other party one can only question the ethics of the deal. In my line of work if there is ANY question as to the structure of a deal run; do not walk; do not collect the $200, it will only cost you 10 times that down the road.

[Wite3]

It never ceases to amaze me how greed gets in the way of good business sense...

Heritage...ask your self this question...

Does coming out and stating you will no longer "house" bid your auctions and be completely transparent help your business in the long run? Would more people consign with you? Would you lose customers?

Seriously? I would be far more likely to bid in your auctions if this was the case and I am sure consignors would be far more comfortable as well. I just do not see a downside in the long run. You are running the risk of causing more problems for yourself.

BTW, I would love to see you pursue a libel suit against anyone on this board. As someone said, opinion would be hard to prove damages on. Ask REA how their suit is going. The other thing to consider is that the second you file that suit, I am sure that the opposite lawyer will be asking you to open all your files and all your books including bid histories, payments, etc. How comfortable are you with that?

[Exhibitman]

I do not believe for a moment that Heritage will sue over the jokes and opinions of chat board posters, regardless of the threats their flack makes [bad public relations move, dude--when trying to plead your case to the public, generally not a good idea to insult or threaten them]. It isn't so much the virtually impossible task of proving actual damages [you can still win a defamation per se case without actual damages], it is that Heritage would have to overcome the opinion and parody defenses, which I believe are dispositive in this case and would likely result in a summary disposition of the case. Not only that, the moment Heritage alleges lost profits or business damage the ensuing discovery into the company's finances and business conduct would force Heritage to open its books and records, something I do not think the owners of any private enterprise want to do.

I also don't see any intelligent attorney telling Heritage to file a defamation case because the blowback would undermine their auction structure. Iin my opinion their auction rules are designed not for transparency but for plausible deniability: as long as bidders don't know which lots Heritage house bid, they can tell themselves that their lots weren't house bid. Discovery in litigation could create real transparency by potentially forcing Heritage to state exactly which lots it bid on and when. Even if I suspected a house bid had been used to run up the price of a lot, I know that if I actually discovered that I might have won a lot for hundreds or even thousands less than I paid but for Heritage's bid, I'd be very pissed. Certainly, I'd never do business with them again.

[Jaybird]

Well said as usual, Adam.

That's what get's me the most, the "We Hide Nothing." statement.

Everything is hidden. Tell us WHEN you bid on WHAT items. Then tell us WHICH items you have won or are bidding on. That simple.

HIDE NOTHING!

[thxforthebp]

Update........
Still no contact from Heritage about the "lost" Scranton jersey ever showing up that I won in one of their prior auctions
Was told now it was pulled from the auction after the sale (REAL PROFESSIONAL) and doesn't even appear on prior auction results if you search their site....VERY VERY suspicious.
I will tell every single person I ever meet in this hobby how HORRIBLE Heritage is to deal with

J. Drasher
jbd99@verizon.net

[Maddog]

+1

[travrosty]

well, heritage came on here and said they are awesome, so who can argue with that?

[Runscott]

I think I missed something, and I would rather run into a pointed stick than re-read all these posts...

Did Heritage say that they also pay the buyer's premium if they win, ala the other auction house that we previously beat into submission? If not, then they truly are killing one of their primary customers: the dealers who HAVE to get lots near wholesale; i.e-Heritage' price would actually be one bid lower than what wholesale is for everyone else.