Heritage Platinum Session: changing the way auctions will be conducted for GA/SA 0

[Mmehdy]

I know lot of you got the stand alone Platinum session catalog from upcoming Ha auction. " The last platinum session we held in may 2017 averaged over $50,000 per lot with records falling left and right".

 

 My opinion is this is gonna be the new "trend" in auctions and its a disaster for EVERYBODY. Having a separate day just for the big stuff ( 10K and up)  and no longer lumping together with all lots combined. This leaves the "little" guys at a total disadvantage.  The big fish will only be focused on that auction day. They will be gone, and not have to sit thru your lot to get to the next big fish and buy something along the way, or say he thats cool. This is totally unfair to 90% of the sellers, whom will lose some the bidding pool in the process. Further, they have a day to think about the purchase from platinum and get tight about  spending  and say, that's it I am out or its not worth it to sit thru another day...instead of getting caught up the the "high" of the purchase and buying more at the very auction you win something with all items combined. Anybody who has "won" a lot knows that good feeling and the desire to buy more.

 I know we are all on different budgets....but to separate the haves and the have nots...also limits YOUR VALUE or RETURN by saying your item is not good enough or worth enough to be in the Platinum auction which is FIRST in line for the money pool. This devalues your ceiling by implication. Now that they have received a record  price number and interest, who will be next.

 I for one, believe in the "old auction process"..that each and every lot should be treated with respect and NOT create a second class citizenship based on subjective value of the auction house.

 Your thoughts would be appreciated , thank you.

 

[Cat-Man_America]

Interesting analysis, Mitch.  I think this experiment will take awhile to sort out, ...but it may be cause for consternation from some sellers.  Honestly, it could work either way.  Bargain hunters might skip the Platinum auction in the hope of snagging cheaper pick-ups in the Side-Kick's Lounge.  A tier system could potentially increase the competition for lower value books.  It might also drive budget minded bidders totally away from the Platinum auction who'd otherwise bid on a lesser book as a consolation prize (since there'll be fewer options in their price range in that auction).

At this point I'm not ready to proclaim the sky is falling.  Time will tell. 

Edited November 13, 2017 by Cat-Man_America
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[Knightsofold]

I agree that it's an interesting observation and that time will tell.  I got both catalogs but didn't even notice which was which and why.  I think each auction house has at least x2 different names for their comic auctions so I just ignore them and look through all equally.  The only thing I noticed was that the Sunday heritage auctions have less and less of the "good stuff". 

I agree lumping them all together is probably good for business and collector exposure, but page after page of similar/same grade AF#15 doesn't seem great either.   If I was a consignor, I'd more concerned about auctions occurring the same time/day as competitors, and too many multiples of the same issue in 1 auction. (like x4 Timely Mystic Comics #7s on comic connect).

At what point are there too many auctions/books out there to sustain the "record" prices?  WHat % of the record prices come from the same pool/usual suspects?  When does the rate of consumption change?

[AnkurJ]

I have bid on many coin auctions with Heritage, and this has been common practice with them. And whether a coin is in a regular or platinum sale, good coins have done well. So I honestly don't expect any major price discrepancy with comics or art. If its good stuff, it will perform well. But time will tell.

[batman_fan]

Heritage has divided out the big auctions for as long as I can remember.  Aren't they just calling the Thursday Auctions that were always where the bigger ticket items are auctioned "Platinum"