Heritage Wins

thenavarro · #1 11-06-2015, 11:29 PM

Nice stuff guys, congrats on the pickups. Been waiting patiently (ok, impatiently) on this auction ever since I got the catalog. Ended up being a bitter auction night for me. I was the underbidder on an incredible 1924 Notre Dame team signed photo that included the Four Horsemen, and I was the underbidder on a 1920's autograph baseball signed by Babe Ruth, Ty Cobb, Walter Johnson, John McGraw, Kennesaw Landis, Ring Lardner, Nick Altrock and another.

And because those two lots went later than many others in extended time, I was not able to shift my funds around to other items that I would have bid higher on compared to what they sold at.

Always the bridesmaid, never the bride. (at least tonight LOL)

Exhibitman · #2 11-07-2015, 07:56 AM

Mike's situation is a perfect illustration of why lot by lot closing sucks for consignors

pcoz · #3 11-07-2015, 08:12 AM

For those who know E98's, this color combo is almost impossible. I've been after this one for years...

iowadoc77 · #4 11-07-2015, 11:54 AM

Quote:

Originally Posted by pcoz

For those who know E98's, this color combo is almost impossible. I've been after this one for years...

Great card Pete. I have never seen a blue Cobb before. Looks nice for the grade!

uffda51 · #5 11-07-2015, 02:51 PM

iowadoc77 · #6 11-07-2015, 03:51 PM

Quote:

Originally Posted by uffda51

Great card. Hoping to pick up an Anson some day.

RGold · #7 11-07-2015, 04:09 PM

An impulse buy. I always wanted a T206 Bill Gregory card.

image.jpg

BeanTown · #8 11-07-2015, 04:14 PM

Great items Bob! My finger hovered over the bid button on the Ruth late, but settled for a couple of panoramics

Leon · #9 11-07-2015, 09:21 AM

Quote:

Originally Posted by Exhibitman

Mike's situation is a perfect illustration of why lot by lot closing sucks for consignors

Yes it is a perfect illustration of half of the debate.

bobfreedman · #10 11-07-2015, 10:13 AM

but two nice pieces from Heritage that I won last night

benchod · #11 11-07-2015, 10:29 AM

Quote:

Originally Posted by bobfreedman

but two nice pieces from Heritage that I won last night

Outstanding, Bob
i think you got a great deal on the Ruth - Red Sox cab

Exhibitman · #12 11-08-2015, 12:57 PM

Quote:

Originally Posted by Leon

Yes it is a perfect illustration of half of the debate.

Yes, that is why I said "for consignors": as a bidder I love individual lot closings and I really love it when lots close individually and overtime bidders cannot troll the auction raising bids but are confined to bidding only on items they've bid on before the overtime starts. I've won a number of items over the years far below what I would have paid simply because the rules have left me as the only one standing when OT started.

I realize AHs have to decide what balance to strike, but I can say as a consignor I have learned to look at how the close is handled as among the factors I consider when I consign.

oldjudge · #13 11-08-2015, 04:43 PM

Adam--I don't think the argument is that straight forward for consignor as you make it out to be. Many bidders will not leave up to bids. With most "all-close-at-once" auctions ending extremely late, some lots are won by the bidder who can stay up the latest. If those lots had ended earlier(likely in the individual lot closing scenario), the winning bid might have been higher due to a larger potential bidder universe.

Bruce--Fantastic image on that Anson. Congratulations!

Stonepony · #14 11-08-2015, 05:00 PM

Quote:

Originally Posted by oldjudge

Adam--I don't think the argument is that straight forward for consignor as you make it out to be. Many bidders will not leave up to bids. With most "all-close-at-once" auctions ending extremely late, some lots are won by the bidder who can stay up the latest. If those lots had ended earlier(likely in the individual lot closing scenario), the winning bid might have been higher due to a larger potential bidder universe.

Bruce--Fantastic image on that Anson. Congratulations!

Just curious why you say " many bidders will not leave up to bids" ? Is that an assumption or anecdotal? In prior threads, representatives from almost every major auction house have stated that a bidders max bid, bidder ID, password etc cannot possibly be viewed by them. So what would give these bidders pause? If you want a card , but can't keep your eyelids open, I can't believe a collector would call it a night and not put in a max bid. To each his own comfort level I guess. For full disclosure, I try to stay up if I can!!

Topnotchsy · #15 11-08-2015, 07:02 PM

I was able to upgrade my 1934 Japan Tour baseball with one that Heritage claims is the most comprehensive they have ever seen. Ruth is a little faded, but Gehrig looks nice.

Exhibitman · #16 11-08-2015, 07:45 PM

Quote:

Originally Posted by oldjudge

Adam--I don't think the argument is that straight forward for consignor as you make it out to be. Many bidders will not leave up to bids. With most "all-close-at-once" auctions ending extremely late, some lots are won by the bidder who can stay up the latest. If those lots had ended earlier(likely in the individual lot closing scenario), the winning bid might have been higher due to a larger potential bidder universe.

Bruce--Fantastic image on that Anson. Congratulations!

Jay, I think that is an appealing but incorrect argument because we aren't talking about ceiling bids. The bidder who stays with the auction the latest would necessarily be making the last bid, the highest bid. Mike said it perfectly: "because those two lots went later than many others in extended time, I was not able to shift my funds around to other items that I would have bid higher on compared to what they sold at". Many collectors, myself included, operate on a budget and have to triage like Mike did. Individual closes mean no going back to use the funds that were freed up by getting topped. Real world example; When Heritage sold off the Hull Collection I liquidated a chunk of my collection in anticipation of going after some of the cards. I chased the most important ones into OT, got KO'd and ended up spending "only" 40% of my budget because I couldn't double back and go for some of the lesser items. That certainly didn't help Jeff's sales.

But even if that wasn't the case, I don't see how a ceiling bid comes into play unless you are suggesting that there are bidders who won't participate at all unless the items close individually. That hasn't been my experience; stuff even trumps felonies. If I want something and I don't want to leave a ceiling bid, I bid next increment on it, and I either get it or I get topped.

pkaufman · #17 11-08-2015, 08:23 PM

Adam....fess up.....you haven't spent your Bar Mitzvah money yet !!

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