I just joined Bowers and Merena. I bid on four lots and accidently over-bid by almost 1,000 dollars on one coin(yes I know I need to be more careful.) I did some investigation and found that the same coin (1922 MS65 NCG Saint) has recently realized 2500-2800 on Heritage. I bid almost 3,500 with buyers premium. I don't think I will be out bid and the auction ends this evening. I sent them an email stating that it was a mistake and have not heard back yet. I understand a bid is a contract and will pay if they hold me to this. Is there anyway I can retract my bid before the auction closes without ruining my reputation and possibly being barred from all future auctions? thanks, Richard
Not sure - I did the same thing on Heritage once, not quite as bad. I got lucky and nobody bid me up. I just let it ride since it was my mistake.
I just did that on a Heritage auction, but again nobody bid me up or I would have been taking a soaking. As it was, I got the item on the cheap, an' came in the post just this morn.
Well, they emailed me back and told me they removed my bid. Lesson learned? Always keep a calculator and pay attention to the total price with premium before bidding
i suggest you look at what the coin is worth and bid that much that way you wont have heartaches now where is Lehigh I am going to start a bidding war with him on Wednesday for the comem we both want
Same here. It seems the Heritage auctions don't have the " bidiot" issues that sometimes happen with Ebay. I also overbid once, but bought safe because the coin sold right.
I can't believe the realized prices on some of the Heritage and Bowers and Merena auctions!! I always thought that this was were dealers got their wholesale prices. Seems one could do just as good or even better on Ebay.
I am not familiar with the workings of Bowers and Merena, but you are correct about Heritage (and likely B&M) except it is not from the auctions you see. They hold private auctions of bulk lots just open to dealers.
heritage is an expensive place for quality material if you are looking for coins with less $ ebay might get you better deals or even teletrade
Ever hear the saying that you get what you pay for ? Well, Heritage and the other major auction houses are just such places - you get what you pay for. You do not find outrageous prices there, you find fair prices there. The reason for this is that most of the buyers who purchase from the major auction houses actually do know what they are doing. They understand quality and are familiar with actual market values for given coins - unlike some of the buyers you find on ebay.
ahem you might have a point for us coins but just step into the realm of indian coins and you will fall out of your chair. if i ever dared to buy a indian coin from heritage you would drop the stick and grab a gun even north east looks like bargain basement. we are seeing a lot of people with deep pockets and shallow knowledge jumping in on heritage hopefully the trend will pass
It 's nice to be rich..If I were to win the lottery, I think it wouldn't be fun collecting coins anymore.
I do not consider heritage expensive. You can get deals there just like on Ebay. They are harder to come buy, but they are there. I like heritage better than ebay.
by expensive i meant in $ terms. ebay is usually cheap place in terms of $ spent per coin. sure you can get a $20k coin for 5k on heritage but you still have to be able to spend that 5k.
