heritage auction issue

Discussion in 'Paper Money' started by mikep, Oct 30, 2014.

  1. mikep

    mikep Active Member

    Anyone ever notice this? I had a couple of lots on 'mybids' list, I watched the timer count down and I was high bidder on 2 lots at 10 seconds, 5 seconds then it ended, and I even refreshed and it was green with me as the high bidder on both. I checked a few hours later on my home computer and I apparently lost. I emailed them about it and they said that these bids came in last second and I'd have to watch the 'Live bids' section to see the real time. But I know for a fact of what I saw. I feel like their integrity has gone down badly with this. Anyone ever have this happen? Are they known for this? Thanks.
     
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  3. RickieB

    RickieB Expert Plunger Sniper

    In the past and present I have had nothing but good things to say about Heritage.
    What you need t do is open several windows, one for each lot that you are bidding on and be ready to hit the BID button at the last sec....it increases your chances.
    Good luck!

    RickieB
     
  4. Peter T Davis

    Peter T Davis Hammer at the Ready Moderator

    Snipers are common in any auction system. You either have to learn to out-snipe them, or simply put in your best bid and if someone outbids you then you accept it and move on.
     
    TIF likes this.
  5. geekpryde

    geekpryde Husband and Father Moderator

    The "LIVE" format is now on most all Heritage Auctions (HA) auctions. If you simply put in a bid and are winning when the normal internet bidding ends, you have NOT won the item. You then need to participate in the LIVE session as well. You are not simply competing against other keyboard-warriors, HA is taking calls, in-person bids, etc.

    Read more here:

    http://www.ha.com/c/ref/web-tips.zx#live

    Three Things to Know About Heritage Live!
    1. LiveProxy - The LiveProxy feature allows you to quickly and easily enter bids to be placed live before the auction begins (or before the respective lot has come up). These bids can be edited, changed, or deleted up to the time the item goes live. LiveProxy will bid live for you to ensure your bids get through, and if you are outbid while following the auction live, it allows you to continue bidding using the LiveBid button.
    2. Last minute bidding insurance - Heritage Live! offers you a "second chance" to win. If you bid on HA.com and you are not winning when Internet bidding closes, you can still win the lot by going to Heritage Live! and either leaving a LiveProxy bid as detailed above or bidding live once the lot opens. If you have the winning Internet bid but are concerned you will get outbid during the live event, you can put in a LiveProxy bid for a higher amount. Or, if you watch the Live auction, you can place your bid directly against the floor. In either case, Heritage Live! has automatic safeguards to prevent you from bidding against yourself! It's an additional opportunity for you to win even if you don't attend the Live Auction.

    3. Bid Protect (exclusive to Heritage Live!) - Tired of losing lots by one increment? Now, you can choose to add Bid Protection to any lot when you place a proxy bid through Heritage Live, If your proxy bid is outbid, Bid Protection will automatically increase your bid by one additional increment, giving you an additional chance to win. You can use Bid Protection on all items available for proxy bidding through Heritage Live, except for the current lot and the next upcoming lot.
     
  6. scottishmoney

    scottishmoney Buh bye

    I have had it happen at Lyn Knight auctions. At the close of the live auction I thought I was the high bidder, but they got a bid said to have been placed at the last second that didn't register in the system live. Frankly I am not so sure about the veracity of what they said, but then again I don't lose sleep over it.
     
  7. mikep

    mikep Active Member

    Yea I'm going to have to go with the live bids system but I still don't believe the integrity of what happened.
     
  8. krispy

    krispy krispy

    HA gives you some options like Bid Protection and text alerts, and you can open extra browser windows to line up manual bids. With bid protection you can set up how many increments you want to bid beyond the amount you enter the bidding for the lot with, in case something last minute comes up. Sometimes despite all the technology it just takes vigilance. As mentioned above, and in this post, look into Bid Protection (see the pic attached where to find it) on lots.
     

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  9. mikep

    mikep Active Member

    I hear what you're saying and all that but I refreshed and saw with my own eyes that I was the winning bidder. I have been using eBay for 14 years and other such sites and have used the Mobile version of HA many times. I've never seen bids come in after the auction ends. Even though they allege they didn't.
     
  10. krispy

    krispy krispy

    In HA FAQ they state:

    Why did I lose the lot to a bidder bidding the same amount?
    If an Internet Proxy bidder at HA.com has placed a bid higher or equal to your bid, they will win the lot due to the fact they bid earlier and have the prior bid.

    And, in the Bidding Tutorial page:

    When the auction closes, the winner of the item will be the person with the highest bid, but the hammer price of the item will be the calculated current bid on the item, regardless of what the actual high bid was. This allows you as a bidder to win items for less than your maximum bid. Our Signature Auctions open up on the auction floor at the Current Bid. We will execute the high Internet bidder's secret maximum bid on his behalf until he either wins the lot or is outbid.

    Bidding increments in auctions with a Heritage Live component follow this table. Note that this is calculated without regard to the current bid; if an item has a current bid of $175, then the next bid will be $180, then $190, $200, $220, $240, etc.



    There is a table showing the increments and a bit more information continuing beyond the quoted passage above, but I think its important to remember how many factors you may be bidding against and the way they calculate the increments. I don't feel HA are doing anything unethical and that the system works as fairly as it is explained. Sometimes it's just hard to defeat all the forces competing for the same item.
     
  11. mikep

    mikep Active Member

    yea I see that, wow I didn't know it was so intricate. thanks
     
  12. RabidRick

    RabidRick Sardonic Devil's Advocate

    Yep, had that happen before >.<
     
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