Heritage changing to live auctions

[Dread_Pirate_Mel]

Hot off the press:

In an effort to bring the excitement of the live auction format to bidders every week, Heritage Auctions' Weekly Movie Poster auctions will close with a live auction on HA.com's proprietary platform, Heritage Live!. beginning with the auction that ends Sunday, April 13. Each lot will now be offered one at a time, in lot number order, in a live auction beginning at 8:00 PM CT; with live bidders on Heritage Live! competing with each other and with previously placed Internet bids. Bidders in our previous Signature auctions will recognize the format as it is the same platform utilized by live Internet bidders at the time of the auction sessions.

There will be no change in how bidders place their secret maximum bids during the week the auction is open on the Heritage Auctions website. Once bidding on the Heritage website ends, 2 hours before the live session starts, bidders will still have the option to leave proxy bids through Heritage Live! All existing bids will compete with any live bidding during the Heritage Live! auction. Each lot will open, request live bids, and then close when the bidding is finished.

You will be able to get to the Heritage Live! bidding software from many pages on the website, including the home page, each lot page, the auction home page, MyBids, and MyTrackedLots. For more information about Heritage Live, please visit HA.com/

[erik1925]

As posted here, earlier, by Mr Grey himself:

http://www.allposterforum.com/index.php/topic,7928.0.html

 

[Dread_Pirate_Mel]

I'm curious what APFers think. Not sure I like it.

[MoviePosterBid.com]

doesn't bother me any
only a small adjustment to my day

[Silhouette]

As all auction houses work for money then it's about maximising the income, some use auto-extend, HA are going to use to excitement(?) of a live auction.

I see it as a win/loss situation, it will penalise people who are not living in the USA where timezones don't suit (2am in the UK as noted by one on MoPO, 11am in Sydney on a Monday, where some of us work). IMHO it will definitely drive up the final price.

Personally as a bidder I don't like it, but either when it comes to the business of auctions it's not how cheap the bidder can get it for it's how high the auctioneer can sell it for, c'est la vie

[MoviePosterBid.com]

when it comes to the business of auctions it's not how cheap the bidder can get it for it's how high the auctioneer can sell it for

correct

[oldposterho]

I'm wondering how Gavelsnipe will work with all this?

[Harry Caul]

I'm wondering how Gavelsnipe will work with all this?

My first thought as well...

[Dread_Pirate_Mel]

I'm not sure enough bidders will have the patience for these every Sunday night. Not that Heritage cares, but I really liked making one "best bid" through Gavelsnipe instead of tedious bidding extensions at the end.

I agree that Heritage believes this will increase prices overall.

[MoviePosterBid.com]

I agree that Heritage believes this will increase prices overall.

and if you are a consignor, then you like this change because it means more money for you

myself, I never liked "dead ending" auctions where everything closes at the same moment and I prefer having a second chance at something I really really want.
I do understand the other side of the equation, that I may not be able to snare some items at lower prices, but those are the breaks.

[jayn_j]

I'm not sure enough bidders will have the patience for these every Sunday night. Not that Heritage cares, but I really liked making one "best bid" through Gavelsnipe instead of tedious bidding extensions at the end.

I agree that Heritage believes this will increase prices overall.

It always seemed to me that the extended bidding auctions that Bruce and Rich hold are the best compromise.  The vast majority of their stuff closes on time without an extended bidding frenzy.  You can place a final bid a bit before the window and then relax.  Even if multiple items go into extended mode, they overlap which keeps the auction moving along.

The new heritage system by definition has every single item going into extended bidding.  Even if nobody bids live, they will still waste a minute soliciting a bid.  When there is a bidding war, everyone has to sit around and wait until it is over before anyone can move on.

As for gavelsnipe, I don't see how it could possibly work, in much the same way that it doesn't work with any of the extended bidding sites.

[MoviePosterBid.com]

actually, I realize that Gavelsnipe will still work, but you will have time to outbid Gavelsnipe bids is the diff

Gavelsnipe works on a clock, so as each auction comes to it's 20 second window, it will bid accordingly
it just won't be the last word anymore

[jayn_j]

actually, I realize that Gavelsnipe will still work, but you will have time to outbid Gavelsnipe bids is the diff

Gavelsnipe works on a clock, so as each auction comes to it's 20 second window, it will bid accordingly
it just won't be the last word anymore

OK, so you can still enter a snipe bid, and your max proxy bid might hold up through the live period, but you have lost the element of surprise.

[MoviePosterBid.com]

yes that would seem to be a good description of your predicament

[Silhouette]

OK, so you can still enter a snipe bid, and your max proxy bid might hold up through the live period, but you have lost the element of surprise.

Do it naked, the element of surprise returns.

[movieposterodyssey]

I liked it the way it was,of course.No 'excitement' was needed.Shoulda started that out with, "In an effort to make sure you're outbid"...
That said,I understand...business is business.

Having to sit thru an entire auction and wait for lots could be a problem for bidders...sometimes.

[CineMasterpieces]

Does anyone know if those automated auctions are completely automated? or is there some Heritage employee overseeing everything as it is going on live?

[jayn_j]

yes that would seem to be a good description of your predicament

Someone's.  I've never bid at Heritage and likely never will.  I guess I'm too much of a bottom feeder and don't generally see the value there.

[guest4185]

Seems like a logical move to me, better for consignors and those who want to compete.

[Mirosae]

As all auction houses work for money then it's about maximising the income, some use auto-extend, HA are going to use to excitement(?) of a live auction.

 it will penalise people who are not living in the USA where timezones don't suit (2am in the UK as noted by one on MoPO,

Personally as a bidder I don't like it

What David says + 1

It is hard enough for me to be awake during the Best-ever- w.o.w. live Sig auction.
Doubt I will bother with the weekly.
Need my beauty sleep.

[Silhouette]

Although not a protest, I am one who will not be participating in these live auctions, it doesn't suit.

[Zorba]

Although not a protest, I am one who will not be participating in these live auctions, it doesn't suit.

Yeah.

I know they wont miss me and I wont miss them either.

Im not saying I will never go but its gonna take something I really really really want to get me to show.

[Dread_Pirate_Mel]

Heritage should have started the live auctions last week.  This She Monster was a steal last week:

[wonka]

HYPE!

[erik1925]

Pom poms are ready.