Max bid at AH. Use it?

[orly57]

I would only trust REA and Heritage on that. That's IT! I'm guilty of wanting to secure slots, so I understand. But I think that seeing the max bid up is too enticing for some lesser AH owners. They have some shiller match your max. I am pretty sure I lost a few thousand that way not too long ago.

[Peter_Spaeth]

Originally Posted by orly57

I would only trust REA and Heritage on that. That's IT! I'm guilty of wanting to secure slots, so I understand. But I think that seeing the max bid up is too enticing for some lesser AH owners. They have some shiller match your max. I am pretty sure I lost a few thousand that way not too long ago.

It would shock me if LOTG or Sterling ever ran anyone up.

[orly57]

Peter, I am sure they are excellent. I am just saying who I personally trust. I don't know the owners of those AH's, but if you say they are decent guys, I am sure it's true.

[felada]

Really? Ever read their terms and conditions at HA?

21. e Auctioneer, its a liates, or their employees consign items to be sold in the Auction, and may bid on those lots or any other lots. Auctioneer or a liates 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 a liates. e Auctioneer may extend advances, guarantees, or loans to certain consignors.

Originally Posted by orly57

I would only trust REA and Heritage on that. That's IT! I'm guilty of wanting to secure slots, so I understand. But I think that seeing the max bid up is too enticing for some lesser AH owners. They have some shiller match your max. I am pretty sure I lost a few thousand that way not too long ago.

[swarmee]

I would never use it. Why not just bid the minimum each time? That way people can't push your bid up over a month, and you might just get it much cheaper than you think it will go.
Put in a cheap bid (to be a bidder on the item) and save your ammunition for auction ending time, like every other auction.

[1952boyntoncollector]

Originally Posted by swarmee

I would never use it. Why not just bid the minimum each time? That way people can't push your bid up over a month, and you might just get it much cheaper than you think it will go.
Put in a cheap bid (to be a bidder on the item) and save your ammunition for auction ending time, like every other auction.

well there are certain bidding slots

say a PSA 7 1954 topps al kaline...pretty much a 1000 card....if you dont grab a max bidding slot with bp at $1070..and you go to 910 (just throwing out numbers) and the next guy grabs 1070...the only way you get the card is paying over market price....but if grab the bidding slot...you at least have the best chance of getting the card at market price...yes...you wont steal it as the AH's friends will likley will bid it up to your slot..but you dont know if that would of happened in the first place, plus maybe you do get it cheaper and those bids from the AH's friends or anyone else dont come in


there are certain cards in certain conditions that we all know what the market price bidding lot is....so for those types of cards...if that bidding slot puts me just under that market price..and the bid above me would put the card at a price clearly over ebay for example...i dont see any harm in grabbing that slot

[Peter_Spaeth]

I agree with Jake. Given how bidding increments work, sometimes it's just rational to grab the slot before someone else does.

[pokerplyr80]

Originally Posted by Peter_Spaeth

I agree with Jake. Given how bidding increments work, sometimes it's just rational to grab the slot before someone else does.

This is why I use the max bid feature. When I'm willing to spend X on a card might as well get the bid in first in case it is someone else's max and I don't want to lose the card to someone who wasn't willing to pay more than me.

[Peter_Spaeth]

Originally Posted by pokerplyr80

This is why I use the max bid feature. When I'm willing to spend X on a card might as well get the bid in first in case it is someone else's max and I don't want to lose the card to someone who wasn't willing to pay more than me.

Yeah, the odds you are going to steal something in a major auction are pretty infinitesimal in my opinion. Most stuff is going to go where it should, or higher. So, at least for what I am buying, I don't see much downside to locking up the bid level I want.

[jefferyepayne]

I only leave Max Bids if:

1. I'm too tired to stay up / not available at auction end,
2. run by auction houses I trust, and
3. that don't have rules that allow the auction house / employees to bid on stuff

Comments on #1 above - I prefer lot by lot, fixed ending times, or very early starts (noon) to extended bidding. Tired of trying to stay up all night to win something so have cut back on bids in those kinds of auctions but occasionally will put in a Max Bid if its something I really want

Comments on #2 above - Auction houses I don't trust include any that are 1) run by people who went to jail, 2) run by people caught cheating/stealing/shilling/allowing shilling, 3) run by people who cheat grandmothers out of their inheritance selling crap on TV

Comments on #3 above - If you don't know who does this, you had better start reading the auction rules for each auction house!

If I set a Max Bid with an auction house I trust and end up winning it at my Max Bid, I let that slide once. If it happens again they move to the DO NOT TRUST bucket.

jeff

[BeanTown]

Never a good idea to place a max or top all bid with any AH. I feel all AHs should have their lots close on a per lot basis or a hard close time. Making bidders stay up all night long to bid, promotes bidders to use the AH top all function. Heritage, Clean Sweep, Hunt, Huggins and Scott, Brockleman, etc... do the per lot closing while REA and Rhy do more of a firm close which does not go past midnight.

I don't see any benefit other than "tradition" for an AH to keep the auction open till the wee hours of the night and sometimes the next morning of the auction.

I've lost many lots over the years where I just fell asleep as I refused to place a top all bid. I would think an AH would want all the bidders who want to win that lot, to have a specific time to show up, and battle for it.

Again, I just don't see any good that can come out of placing a top all bid unless you want a certain price spot or you need your sleep.

[botn]

Everyone here assumes it is the auction house who is sponsoring, supporting or participating in shill bids being placed where a top all gets maxed. In some cases that maybe true but even houses who you trust can have consignors acting independently to protect their consignments which can have the same impact.

Unless you have no respect for your money, anyone bidding with Heritage should be wise enough to know about their disclosure permitting the house to bid.

[Peter_Spaeth]

Plenty of good can come out of it. In light of the bid increments, you can lock up the slot most likely to win it, and not be forced to go another level higher when someone else takes it instead of you.

[mechanicalman]

I agree with Jay Cee: the up all night auction format is antiquated, and I believe, detrimental to consignors. As such, when it comes to consigning my collection in the future, I have personally ruled out AHs like Memory Lane, Goldin, Mile High, and dare I say, LOTG, as long as they use that format.

[ALR-bishop]

I do it for the reasons Peter enumerated....and because as an old guy I do need my sleep