REA Archive Offerings/Bids

[perezfan]

Originally Posted by spacktrack

Hi Mark,

Thanks for your offers.

The person making the offer will be notified of the status (answer, no answer, acceptance, decline, etc). Our goal is within 72 hours. As I alluded to in my first post, there is definitely a backlog due to the massive number of offers coming in (one person has submitted nearly 50 himself). Each one is processed manually. I'm going to look into your offers myself and follow up with the status offline for you.

We have had a few instances where the owner of the item has countered, which has worked well. What we are encountering a lot is collectors who are happy to hold their items, so there's not much negotiating.

One thing to reiterate while we're discussing this is that we encourage collectors to lead with their best offer for the highest chance of success, and in all situations, we will only approach a buyer with an offer that exceeds what they paid for the item at auction.

We appreciate all the interest in the program, we thank everyone for their patience, and we promise to continue to work on it and perfect it.

Brian

Thank you Brian!

I made the offers a few weeks back.... Thus, my questions about being notified either way. I'll look for the responses off-line, and really appreciate you addressing this.

Thanks as well to REA for creating this cool new program! I've drooled over countless lots in past catalogs, and even if only 1 in 10 of these requests comes to fruition, that a very cool option!

[Peter_Spaeth]

Originally Posted by perezfan

Thank you Brian!

I made the offers a few weeks back.... Thus, my questions about being notified either way. I'll look for the responses off-line, and really appreciate you addressing this.

Thanks as well to REA for creating this cool new program! I've drooled over countless lots in past catalogs, and even if only 1 in 10 of these requests comes to fruition, that a very cool option!

I would guess it will be closer to 1 percent than to 10, but if Brian and team are willing to do the work, no downside.

[Beastmode]

Originally Posted by Peter_Spaeth

I would guess it will be closer to 1 percent than to 10, but if Brian and team are willing to do the work, no downside.

++ only entertaining offers that exceed what winner paid? So not what it's worth, just what someone has into it.

[perezfan]

Originally Posted by Peter_Spaeth

I would guess it will be closer to 1 percent than to 10, but if Brian and team are willing to do the work, no downside.

You might be right about the 1%, but my success rate with Heritage (who has a similar program) is closer to 30%. Admittedly it's a small sample size, but is certainly a potential win-win, with the seller not having to do any real "work" in order to realize the sale. Definitely no downside!

[Leon]

Originally Posted by perezfan

You might be right about the 1%, but my success rate with Heritage (who has a similar program) is closer to 30%. Admittedly it's a small sample size, but is certainly a potential win-win, with the seller not having to do any real "work" in order to realize the sale. Definitely no downside!

30%? That seems like a good success rate for offers. Maybe I should start making some!! For the record I had a good offer on a high end card and didn't take it. I don't think I have ever made an offer though. It has just seemed like such a longshot.