I placed a bid on Heritage Auctions. I am a digital doof. Just get that out of the way..... Only site I have ever bid on was Ebay. I place my max bid and move on with my life. So I received the email below from Heritage. I placed a bid and received this email says I am qualified for an auction by phone. Does this mean I have to participate in a live auction or is my bid in place? *You have qualified to bid on this item in the floor auction by phone. Your Max Bid: $200.00
Heritage will bid for you up to your max. You are also qualified to call in and raise your max during live bidding.
Talking about phone bidding during the live auction I have had much better results following (and bidding) on-line rather than by phone. I lost out on a couple of coins in the past when I couldn't get anyone available to answer my call before the lot came up. Of course, others will tell you just the opposite...on-line they missed out on placing a bid--or even worse, ended up placing a higher bid than they wanted to due to network lag.
For me the best way to behave responsible during an auction while absent is the max bid approach and walk away.That approach keeps one from getting emotional about it and "I got to have it" approach.
Yes, its easy to get carried away with "auction fever", but then, that's half the fun. Just remember, its only money...
Randy if you are ever really serious about a coin in an online auction, where there will later be live bidding, or even in live only auctions, there's a couple ways to go. Phone and internet bidding both can work, or fail. Anything can fail of course. But what a lot of folks find to be the best method for live auctions when you cannot attend yourself, is to have another be your agent at that auction. And it's a lot easier to do than you might think. All ya have to do is make a few phone calls or send a few emails. In other words you call or email dealers, or even a private individual you may know, and find out if they will be attending that auction. Then you have them bid for you. By being there in person they can better judge the coin and the bidding activity, and carry out your instructions you have already given them. They can stop bidding when appropriate, bid up when appropriate, do whatever you have told them to do. Some of the best collections in the world have been put together using this method.
. . . and some of the worst buying decisions can be made by trusting the photos available in the catalogues.
I've been using Heritage for over 20 years and my experience is strongly positive. I've won plenty of lots at well under my max bid. I've won an item on Friday and have it arrive at my house the next Tuesday (not always but often enough). I am a fan of their online bidding platform, though I had a cat win a coin for me by walking across my keyboard at an inopportune moment. Consequently I now keep the bidding turned off until a couple of lots near the item I'm interested in. But, all in all, I am always looking at their lots.
Hey @Randy Abercrombie here's a thought stop buying coins LOL just think of the money you will save and the headache you are giving yourself. (JUST JOKING) buy away Dave
I know.... It’s a disease I am stricken with. Only cure is more coins..... I believe being addicted to drugs is probably cheaper.
