Heritage - sold now not sold? Huh?

[byrone]

What percentage of auctions (auction houses only, not ebay) go unpaid by the highest bidders?

[CrownSports]

I can't speak to percentages but we usually have 1-2 bidders not pay per auction. Rarely is it high dollar items but usually $100+ lots.

[Aquarian Sports Cards]

we had about a dozen no pays in 2021

[Exhibitman]

Well considering that i sold a nicer one before the run-up at a fraction of that price and felt like an idiot when I saw this result, I feel less stupid now that the sale tanked. I will tell my wife so she can remind me that I'm still really, really stupid in so many ways.

[perezfan]

Perhaps Heritage bid on it themselves, in the hope it would go even higher. Just theorizing, but I bet they get stuck with a few of these each auction.

[bobbyw8469]

Originally Posted by perezfan

Perhaps Heritage bid on it themselves, in the hope it would go even higher. Just theorizing, but I bet they get stuck with a few of these each auction.

I do know that they are allowed to bid on their own items. With that being said, you would think they would know the value of each item, and not just blindly bid stuff up to the moon.

[Eric72]

So, the auction house isn't leaving a "false comp" out there?

I suppose that's a good thing.

[Aaron Seefeldt]

Originally Posted by bobbyw8469

I do know that they are allowed to bid on their own items. With that being said, you would think they would know the value of each item, and not just blindly bid stuff up to the moon.

How do you know this to be true, if you don’t mind me asking?


Shill bidding:
the practice of bidding for something that you are selling in an auction in order to increase the selling price
Shill bidding is against the law.