Heritage is at it again!

[Leothelion]

Here is the coin! Link A couple of weeks ago this coin had a buy it now offer for over $200, I believe it was $240 or $270, can't remember exactly. A few days ago the the coin shows up in one of there continuous actions starting at $0 dollars. Now the price is at $150, that 4 bidders have placed bids but YET there's a reserve price???

 

So....what did they do? Did they attract some attention before adding a reserve price? This is how I see it!

 

Leo

[cpm9ball]

Leo, I don't understand why Heritage allows the consignor the option of posting a reserve 48 hours before the close of the auction. Is it possible that this tactic, in essence, allows them pull the item if the bidding doesn't live up the consignor's (greedy?) expectations?

 

By the way, did you see the current bids on the 09S VDB and the 93S Morgan?

 

Chris

[spy88]

Leo, I'm very surprised you didn't mention that the Jeff in the link should not be graded 66! There are too many hits on the obverse and a fairly weak strike overall but especially on the reverse with poor pillar/window lines. Even with what appears to be nice toning, I can't see this coin grading higher then a 65, and IMO closer to a 64.

 

As for how the reserve and the BIN amounts are arrived at and the timing of them, I cannot speak to.

 

And while we have a thread concerning Heritage, did anyone else receive the letter from Jim Ivy extoling the virtues of why it is the #1 auction house?

 

"Heritage is #1 because we have more active clients than anyone else."

"Heritage is #1 because we have the best numismatic website on the entire internet."

"Heritage is #1 because it produces the best catalogues in the business, with a cataloging staff that is second to none."

"Heritage is #1 because it employs the best graders in the business,"

Heritage is #1 because it has the best venues for conducting its auctions."

 

Absolutely no mention of how terrific (horrific) its web auction pictures are.

 

My take on the letter is very simple. They felt the need to reinforce their own beliefs (whether real or not) with their consignors, past present and/or future because the competition is creeping up on them.

[Leothelion]

I don't think I can agree with that! Giving bidders a false impression that a coin will sell at the top bid, only to find out that a someone just threw a bone into the auction with a reserve price! There's something very wrong with such selling tactics, deception perhaps! The only thing the coin has going for it is the strike and toning. It's not a full step coin and it grades MS65 at best with those marks on the cheek. It seems that I'm visiting that place less and less these days!

 

On aside note, and I hate to mention it here but does everyone know that I have a few nickels up in The Money Marketplace. The coins are also listed younder and 20 coins have already received offers so they may go fast.

 

Leo

[jom]

You think Heritage is bad...at least they are selling hundreds and hundreds of coins and have some excuse for their sometimes nonsensical auctions.

 

I recently (finally) bought an SLQ from a seller on Ebay who changed his BIN price (and start price) over the course of a month (and several auctions) more times than I could count. I chased after this coin for a month and a half and finally came to an agreement with him. He had BIN's ranging from $700 to $1300 on the same coin and would often change it maybe $5 on occation. The email correspondence I had with him was always comical too. I'd ask a direct question and he would answer something else. Such as:

 

jom: "What is the mark I see near the date?"

 

diranged seller: "It's a choice coin! Best I've ever seen!"

 

now diranged jom: "But does it have good luster?"

 

diranged seller:"It's a gem! Best I've ever seen!"

 

You get the idea.

 

jom

[JamminJ]

jom: "What is the mark I see near the date?"

 

diranged seller: "It's a choice coin! Best I've ever seen!"

 

now diranged jom: "But does it have good luster?"

 

diranged seller:"It's a gem! Best I've ever seen!"

 

Was it a gem once you finally got it in hand? Anywhere near the best you've ever seen?

[jom]

Was it a gem once you finally got it in hand? Anywhere near the best you've ever seen?

 

Wanna buy it? It's the best I've ever seen! I'll set the price level at a "steady" varying price...just for you.

 

Actually, it was this coin:

 

 

Was it the best? No. It was original but priced too high some of the time. Meaning, I could never be sure WHAT the price was on a day to day basis. We finally settled where we were both happy. I think.

 

jom

[JamminJ]

Was it a gem once you finally got it in hand? Anywhere near the best you've ever seen?

 

Wanna buy it?

 

Depends. What's that mark I see by the date?

[jom]

My offer to buy was a joke...

 

The mark by the date is a letter made at the mint to designate WHERE it was made. Commonly known as a "mint mark".

 

jom

[Techno_mike-migration]

This may not sit well, but here goes...

 

1. Bid what you are willing to pay. If the reserve, no matter when it is set, is above that level then search on. There seems to be a heavy "Sell incredibly high, buy ridiculously low" tone about many transactions discussed here.

 

2. Heritage's imaging is getting better. This actually will cause us bidders more $$$$s. I have won some great coins at good price levels due, I believe, to weak imaging...these days may be gone.

 

Happy Collecting,

 

Mike