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August Heritage Auction

731 posts in this topic

Based on what people have repeatedly said on these Boards and other anecdotal evidence that most of us know personally or have heard, I think there is ample evidence that its a spurious notion that a reputable auction house like Heritage or ComicLink impermissibly walks bids up or otherwise manipulates the bidding so that absentee bids hit their max.

 

Not true 100% on bidding up to max...I know for sure by personal experience on a large transaction, if you want to PM I will show you the transaction and my max bid....

 

 

Winning at your max does not mean that the auction house falsely advanced the bidding so that your max was hit even though no one bid right below you. There are a ton of legitimate ways during a normal auction that someone's max could be hit. So unless you have a smoking gun like "sorry, we mistakenly bid up to your max because of [glitch in our system] [wrong entry in our books] [ we wanted to rob you of every last penny]" it's all just speculation on your part.

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How could you possibly know for sure? All you can know is that you won at your max. Large numbers of people also win at numbers below their max

 

 

This might be the wrong place for this, but.....

 

 

18qalt.jpg

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That guy on the right might have the largest head I've ever seen

 

 

I knew a guy with a large head once.

 

 

He said he as a genius.

 

 

Therefore all people with large heads are geniuses.

 

 

Hey!! I like this problem solving formula. It's easy.

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I can't stop looking at it. It absolutely dwarfs his arms.

 

 

Betcha nobody runs his bids up to the max.

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Based on what people have repeatedly said on these Boards and other anecdotal evidence that most of us know personally or have heard, I think there is ample evidence that its a spurious notion that a reputable auction house like Heritage or ComicLink impermissibly walks bids up or otherwise manipulates the bidding so that absentee bids hit their max.

 

Not true 100% on bidding up to max...I know for sure by personal experience on a large transaction, if you want to PM I will show you the transaction and my max bid....

 

 

Winning at your max does not mean that the auction house falsely advanced the bidding so that your max was hit even though no one bid right below you. There are a ton of legitimate ways during a normal auction that someone's max could be hit. So unless you have a smoking gun like "sorry, we mistakenly bid up to your max because of [glitch in our system] [wrong entry in our books] [ we wanted to rob you of every last penny]" it's all just speculation on your part.

No kidding. This reminds me of someone on the Boards who was ranting that Heritage kept running up his proxy bids to his max. When asked what prices he had submitted, he said it was right above GPA. doh!

 

You should take up Mitch's PM offer to get the lowdown.

 

Unless it was some piece that most intelligent collectors would say had a FMV of X and Mitch's proxy bid was some massive multiple of X, and he still got bid up to his max, then I'd take his statement with a huge grain of salt (like I do all of his statements). And of course there would still be the possibility that if he wanted a particular piece so bad, that maybe, just maybe, someone else in the world equally wanted it that bad.

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Auction houses using absentee bid information to bid up items - NO

 

Honestly, I'd look at the risk reward here, there are so many other price manipulation tactics in play that the auction house using data they have and then putting in ghost bids to increase the price, doesn't seem necessary. I just don't see the need.

Unless your name is Bill Mastro.

 

 

Which is another reason you'll never see that done by anyone, with a single working synapse, again.

Human nature (hubris) being what it is...sure we will. And probably an even bigger and more scandalous an outcome in the end too. But whether that will be in comics or not, who knows?!

 

 

 

Sure, somewhere along the line there will be some small time operation that will think the reward outweighs the risk, but it won't be an organization that makes multiples of what it makes on comics in other areas putting it all to risk for pennies to their hundreds.

 

Chris, to your point I agree again.

 

I should have been a bit more specific, I was talking about Heritage here. To the point, sure I could see it happening again, history tends to repeat and human nature being what it is, but this is the Heritage thread so I was discussing in that context. Despite the shilling and the employees bidding on items, I'd feel pretty safe with an absentee bid at Heritage.

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Auction houses using absentee bid information to bid up items - NO

 

Honestly, I'd look at the risk reward here, there are so many other price manipulation tactics in play that the auction house using data they have and then putting in ghost bids to increase the price, doesn't seem necessary. I just don't see the need.

Unless your name is Bill Mastro.

 

 

Which is another reason you'll never see that done by anyone, with a single working synapse, again.

Human nature (hubris) being what it is...sure we will. And probably an even bigger and more scandalous an outcome in the end too. But whether that will be in comics or not, who knows?!

 

 

 

Sure, somewhere along the line there will be some small time operation that will think the reward outweighs the risk, but it won't be an organization that makes multiples of what it makes on comics in other areas putting it all to risk for pennies to their hundreds.

 

Chris, to your point I agree again.

 

I should have been a bit more specific, I was talking about Heritage here. To the point, sure I could see it happening again, history tends to repeat and human nature being what it is, but this is the Heritage thread so I was discussing in that context. Despite the shilling and the employees bidding on items, I'd feel pretty safe with an absentee bid at Heritage.

 

 

+1 for sure. I feel the same way.

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