Heritage - sold now not sold? Huh?

[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.

[Lorewalker]

Originally Posted by Eric72

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

I suppose that's a good thing.

VCP is reporting it...garbage in garbage out. Not their fault...anyway what is one more false comp compared to the thousands and thousands already logged in?

[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.

[bnorth]

Originally Posted by Aaron Seefeldt

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.

Only in very rare circumstances.

[Peter_Spaeth]

Originally Posted by Aaron Seefeldt

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.

Heritage has been bidding on its own items, with full disclosure, since time immemorial. This is well publicized. The whole hobby knows it. I am sure it's not illegal under Texas law or someone would have cracked down on them, long ago. Anyhow, good luck discerning their intent on any given bid, unless there is a ceiling bid already in place.

[Pat R]

Originally Posted by Aaron Seefeldt

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.

It's in their Terms and conditions.

Heitage Auctions Rules - Copy.jpg

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