Thank you Chris for the explanation. I love the cards that Heritage sells and I spend a good deal of money with Heritage annually. So, I ask these questions not out of antagonism or spite, but as a customer who wants to truly understand the rules. Here is Rule 21, as you quote it:
"The Auctioneer, its affiliates, or their employees consign items to be sold in the Auction, and may bid on those lots or any other lots. Auctioneer or affiliates expressly reserve the right to modify any such bids at any time prior to the hammer based upon data made known to the Auctioneer or its affiliates. The Auctioneer may extend advances, guarantees, or loans to certain consignors."
A few questions:
1. Why can the Auctioneer, its affiliates or their employees bid on the lots that they consign? What would be the reason for someone bidding on their own lot, other than to shill? Indeed, if they truly wanted to buy it, they never would have consigned it.....
2. If I consign, can I bid on my own lots, assuming that I intend to pay the full hammer and BP if I win my own lot? If not, then why can he Auctioneer, its affiliates or their employees do so?
3. Are we allowed to modify our bids prior to hammer based on info that we find out? If not, than why is Auctioneer and its affiliates allowed to?
Seems that Auctioneer (and sometimes the employees), in its/their capacity as buyers, are given certain advantages that other buyers are not afforded, no? If I am wrong here, please explain.
Again, I love Heritage and I am customer, and plan on being one for a longtime. But I think these are legitimate questions, and some of the items that give board members heartburn.
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