New podcast/video from Felix Comic Art (UPDATED 1/3/17!)
6 6

1,392 posts in this topic

23,185 posts
10 hours ago, Brian Peck said:

Disappointed that the Egyptian Queen only got one bid above reserve.

Actually, it only met the reserve.  No bids above it. 

12 hours ago, Will_K said:

 

@Nexus You asked Ron if he saw who took the phone bid for the EQ.  Ron responded that he didn't see.  I've been wondering about why you asked.  Is there a significance to WHO took the phone bid ?

The significance is that the piece was widely believed to be guaranteed at the reserve price. And, as such, people are wondering if the piece sold to the guarantor (probably Jim H. or Heritage itself), or, if they coaxed a last second bid from someone else at that price.  Not that them taking "the winning bid" from a phone bidder necessarily means that it was the latter instead of the former. 

Share this post


Link to post
Share on other sites
1,034 posts

A great back to basics podcast.  Looking at the inside of the auction was fun and the stories about the dd page and all that surrounded that was also insightful and a fun listen.

Share this post


Link to post
Share on other sites
114 posts

Even if the event is held in Flint Michigan, at 19.5% vig, I better get a ham sandwich with my complimentary bottle of water. 

Share this post


Link to post
Share on other sites
24,766 posts
22 minutes ago, dirtymartini1 said:

Even if the event is held in Flint Michigan, at 19.5% vig, I better get a ham sandwich with my complimentary bottle of water. 

ESPECIALLY if its held in Flint, Michigan :insane: (no offense Michiganders!)

Share this post


Link to post
Share on other sites
1,004 posts

Fwitw, they had alcohol and finger food during the preview night in chicago.  

Share this post


Link to post
Share on other sites
682 posts
12 hours ago, delekkerste said:

Actually, it only met the reserve.  No bids above it. 

The significance is that the piece was widely believed to be guaranteed at the reserve price. And, as such, people are wondering if the piece sold to the guarantor (probably Jim H. or Heritage itself), or, if they coaxed a last second bid from someone else at that price.  Not that them taking "the winning bid" from a phone bidder necessarily means that it was the latter instead of the former. 

I hope I’m not misreading what you write here, but just throwing out there. During his podcast, Jim Halperin said that he and his employees can bid on lots so long as it’s during proxy bidding and not during live bidding. So if the winning bid was by phone, couldn’t we cross off Jim as the winner of EQ?

Share this post


Link to post
Share on other sites
682 posts

Fun podcast to listen to, Felix and Ron. In especially enjoyed the history behind the Miller piece and just how those deals go down. 

So about those mail-in and fax bids. I wonder what their win rate is? That analog method of bidding may sound antiquated but I bet it keeps the exuberant bidding in check!

Share this post


Link to post
Share on other sites
23,185 posts
28 minutes ago, Jay Olie Espy said:

I hope I’m not misreading what you write here, but just throwing out there. During his podcast, Jim Halperin said that he and his employees can bid on lots so long as it’s during proxy bidding and not during live bidding. So if the winning bid was by phone, couldn’t we cross off Jim as the winner of EQ?

I believe that's what was stated (but don't remember the exact wording of such)...regardless, would it preclude them from tripping a reserve in the live bidding session if no one else did?  Remember that at least a couple of high-end Frazettas mysteriously had their (perceived, ex ante, to be VERY HIGH) reserves tripped within 24 hours of the live bidding starting, strongly suggesting that some kind of guarantee was in place - would it be outrageous to suggest that, with the stakes so high here, the house preserved the option to exercise that guarantee by tripping the reserve in the live session? (shrug) 

I do not know who won the lot, but, people I've spoken to seem to agree that it was either HA/Halperin (or 3rd party guarantor on their behalf), or the Lucas Museum.  If that's the case, and, assuming that the museum wasn't a third party guarantor to the lot (which may or may not be a good assumption), given the sequence of bidding, did HA really coax a last second bid out of Lucas before the lot would have passed?  Or did they already have the bid from Lucas in hand and just play it up for the cameras there to create a little drama?  Or, did they just wait until they were sure no other bids coming before exercising their guarantee in good conscience?  I don't know the answer, and can think of at least a couple more possibilities on how the piece could have been de facto bought by HA/Jim while still technically adhering to what they said on the podcast, so, I guess we'll have to see if EQ turns up at the Lucas Museum or in another private collection before we can definitively rule them out of playing a role in the purchase, IMO. 2c 

Share this post


Link to post
Share on other sites
34 posts
55 minutes ago, Jay Olie Espy said:

I hope I’m not misreading what you write here, but just throwing out there. During his podcast, Jim Halperin said that he and his employees can bid on lots so long as it’s during proxy bidding and not during live bidding. So if the winning bid was by phone, couldn’t we cross off Jim as the winner of EQ?

Todd Hignite stated that he believed everyone at HA puts in proxy bids. However, on a prior podcast, Jim Halperin explicitly discussed himself having made bids during live bidding. From the fact that Todd sounded unsure along with Jim's comments, I don't believe there is any rule in place at HA that mandates employees placing bids by proxy.

Share this post


Link to post
Share on other sites
114 posts

Wata Games, CGC, HA & CNN walk into a bar. They all tell you their (SOP) standard operating procedure for doing business ethically. Which ones nose grows 1st? 

Share this post


Link to post
Share on other sites
3,979 posts
6 hours ago, dirtymartini1 said:

Which ones nose grows 1st? 

Uh uh. Which one grows longest?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
6 6