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  RegencySuperior bidding....interesting...

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Author Topic:   RegencySuperior bidding....interesting...
spaceflori
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Posts: 1376
From: Germany
Registered: May 2000

posted 04-21-2005 02:59 PM     Click Here to See the Profile for spaceflori   Click Here to Email spaceflori     Edit/Delete Message   Reply w/Quote
Hi,

I was just asked by another collector who won a couple items in the past RegencySuperior sale if my high bids were also the winning bids which means every lot he got was sold at exactly his highbid to him.

After looking at my bidsheet and my winning lots I realized the same...hmmm.....hmmmmmmmmmmmmmmmmmm....

Anybody else made that observation or is it just conincidence ?

Florian

spaceflori
Member

Posts: 1376
From: Germany
Registered: May 2000

posted 04-21-2005 03:02 PM     Click Here to See the Profile for spaceflori   Click Here to Email spaceflori     Edit/Delete Message   Reply w/Quote
I may add that these are not live bids, of course and when I entered these highbids shortly before the deadline the actual highbids weren't close to my max....
(same with the other collector)

So how can it be that someone on the floor bid every one of my lots up to exactly my maximum I was bidding ?

Hmmmmmmmmmmmmmmmmmmmmmmmmmm..................

gliderpilotuk
Member

Posts: 3043
From: London, UK
Registered: Feb 2002

posted 04-22-2005 03:33 AM     Click Here to See the Profile for gliderpilotuk   Click Here to Email gliderpilotuk     Edit/Delete Message   Reply w/Quote
Florian,

how many items are we talking about here?
If it's just a few then it does sound like a coincidence. If it's many, then I'd ask some questions.

Paul

spaceflori
Member

Posts: 1376
From: Germany
Registered: May 2000

posted 04-22-2005 04:21 AM     Click Here to See the Profile for spaceflori   Click Here to Email spaceflori     Edit/Delete Message   Reply w/Quote
Hi Paul,

right now we are talking about 10+ items approx. from me and the other guy.
I'd be curious to learn if there are others, too.

BTW it doesn't mean that I got all items I was bidding on, however those I got were all at my max bid which makes me suspicious...

Florian

MarkRP
Member

Posts: 144
From: Michigan, USA
Registered: Nov 2002

posted 04-22-2005 07:59 AM     Click Here to See the Profile for MarkRP   Click Here to Email MarkRP     Edit/Delete Message   Reply w/Quote
I had some of the same thoughts on the 2 items I bid on. One item I bid $301 and got it for $280 and the second item I bid $201 and got it for $200.

Mark

spaceflori
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Posts: 1376
From: Germany
Registered: May 2000

posted 04-22-2005 11:40 AM     Click Here to See the Profile for spaceflori   Click Here to Email spaceflori     Edit/Delete Message   Reply w/Quote
Interesting,
so we are now 4 different people with the same experiences...(one other collector emailed me privately)

If there are more people out there - please email me privately, I'm not giving out any names, but this now caught my attention...

I know why I'm bidding live in Aurora, damn the extra commission but that way I'm in control of my bids and not anybody else.

Florian

Spaceraven
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posted 04-22-2005 02:17 PM     Click Here to See the Profile for Spaceraven   Click Here to Email Spaceraven     Edit/Delete Message   Reply w/Quote
Add my name to the club, Florian. Bidding $375, winning with $375. Detlev

spaceflori
Member

Posts: 1376
From: Germany
Registered: May 2000

posted 04-23-2005 05:00 AM     Click Here to See the Profile for spaceflori   Click Here to Email spaceflori     Edit/Delete Message   Reply w/Quote
Ok, we are talking about 20-25 lots in question...I guess it's time to contact them now and see what they reply.

Florian

spaceflori
Member

Posts: 1376
From: Germany
Registered: May 2000

posted 04-24-2005 10:22 AM     Click Here to See the Profile for spaceflori   Click Here to Email spaceflori     Edit/Delete Message   Reply w/Quote
7 people and counting...

Waiting for a statement from RegencySuperior now.

spacemike
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posted 04-25-2005 05:47 AM     Click Here to See the Profile for spacemike   Click Here to Email spacemike     Edit/Delete Message   Reply w/Quote
I also bought 2 items for my higghest bid.
The same problem with R+R in the past

spaced out
Member

Posts: 2597
From: Paris, France
Registered: Aug 2003

posted 04-25-2005 06:52 AM     Click Here to See the Profile for spaced out   Click Here to Email spaced out     Edit/Delete Message   Reply w/Quote
R&R had (maybe still have) a bid type where you enter an amount and that's what you pay if you win. Of course most of us assume the traditional maximum bid system is being used (as on eBay) and that your winning bid will be one unit higher than the next lowest bid, so when your winning bid turns out to be the amount you entered it can be a very unpleasant surprise.

On Regency/Superior that doesn't seem to be the case. It's clearly stated "All lots are sold to the highest bidder at one advance over the second highest bid (or the opening reserve price, if any), plus a 15% buyer's premium."

spaceflori
Member

Posts: 1376
From: Germany
Registered: May 2000

posted 04-25-2005 08:10 AM     Click Here to See the Profile for spaceflori   Click Here to Email spaceflori     Edit/Delete Message   Reply w/Quote
Thanks for the info - I was just going to read the terms of sale just to make sure I'm not completely offhand and it says somewhere that the amount you bid is the amount you finally pay.
9 people now and still counting...seems this happened in previous auctions, too.

Florian

spaceflori
Member

Posts: 1376
From: Germany
Registered: May 2000

posted 04-27-2005 12:44 AM     Click Here to See the Profile for spaceflori   Click Here to Email spaceflori     Edit/Delete Message   Reply w/Quote
Received a response from RegencySuperior :

They explain those "coincidences" as having something to do with reserves. If there is a reserve on an item the bid will automatically be increased to that reserve.
While this makes "some" sense I still wonder why the bid isn't lifted to that reserve during online absentee bidding already like you are used to from AstroAuction ?
I got a daily statement saying clearly
"Lot XXX your bid $Y Winning at $X"

Florian

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