Have You Got Your Stuff From Heritage?

[ullmandds]

peter c helped me get my payment straightened out and apparently my card is in the mail. I have little auction house buying experience so I don't know what a reasonable time for shipment is. I guess I was expecting mine "any day now?"

Does this rule:

'21. The Auctioneer or its affiliates may consign items to be sold in the Auction, and may bid on those lots or any other lots. Auctioneer or affiliates expressly reserve the right to modify any such bids at any time prior to the hammer based upon data made known to the Auctioneer or its affiliates.''

mean that the auction house...knowing how high the highest bids placed are...can place bids to help bump prices higher?

[T206DK]

Originally Posted by ullmandds

peter c helped me get my payment straightened out and apparently my card is in the mail. I have little auction house buying experience so I don't know what a reasonable time for shipment is. I guess I was expecting mine "any day now?"

Does this rule:

'21. The Auctioneer or its affiliates may consign items to be sold in the Auction, and may bid on those lots or any other lots. Auctioneer or affiliates expressly reserve the right to modify any such bids at any time prior to the hammer based upon data made known to the Auctioneer or its affiliates.''

mean that the auction house...knowing how high the highest bids placed are...can place bids to help bump prices higher?

I believe I have read similar wording in someone elses fine print too. It sounds like they are basically telling bidders that they might bump prices up by bidding on the stuff themselves. Isn't that the same as shilling, or are they calling it bid modification now

[scottglevy]

WOW !!

Gee Whiz. Just the fact that an auction house grants themselves the 'right' to essentially shill bids is extremely disturbing. If they actually exercise this right I might have to add Heritage to my auction Hall of Shame .... along with Legendary and Coaches Corner.

-SGL

[T206DK]

you will never know unless you are an employee whether they utalize this option or not. My hunch is that they wouldn't have this disclaimer unless they intended on shilling their own auctions. then they can say they aren't shilling , they are modifying bids based on article 21 of their auction rules.
I won't be bidding in Heritage auctions after reading their fine print. Why would you bother unless their is a card you absolutley have to buy.

[old-baseball]

If I remember correctly there was another thread on the issue of bidding in there own auctions a couple of months ago. It's certainly a concern but I believe that Heritage (actually Pete) explained it in the previous thread. You may want to search that out. Didn't Heritage send a email note to all bidders at some point in early April stating that if there was a hidden reserve bids would be placed on those lots by 4/15 and not after. I think there intent or at least the way it was stated last time was the the rule was to protect a reserve.

By the way I did receive confirmation that my package did ship today.

[T206DK]

wasn't that the thread where someone at Heritage admitted that they place bids before the auction starts and then he called it some sort of reserve bid. It's still shilling to me, sorry. I believe Peter had no issue with their policies due to their disclosure. If you don't read the fine print then you get what you deserve. You can assume nothing anymore when major auction houses are concerned. their is too much money too be made and the competition between the larger auctions is stiff. They all want the consignments and in return promise consignors certain results. Placing bids before an auction starts ensures that the consignor will be satisfied ( or at least thats what they hope I guess). It's all about $$ to these auction houses, never forget that.

[ullmandds]

I wouldn't have a huge problem if they were placing bids prior to the start of the auction...if this is all they're doing. At least then if I outbid them it's because I was comfortable with that price....but if I've been bidding throughout and then in extended bidding I'm bidding against the house? I'd have a large problem with that!