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Forums10
Topics38,463
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Mar 29th, 2024
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Joined: Apr 2016
Posts: 718 Likes: 104
Sidelock
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OP
Sidelock
Joined: Apr 2016
Posts: 718 Likes: 104 |
I had one item today that I was bidding on and lost out by one increment. I’m not a fan of the Morphy bidding system. If you submit a PDF or faxed bidding form with a bid, they immediately post your max bid online. They do not bid up to your max on your behalf like all of the other auction houses I have patronized. Apparently, You can avoid immediate max bid posting only by submitting to a telephone call from one of their bidders 5 lots ahead. This is a bad system in my opinion. Did anyone “get lucky” in today’s auction?
Last edited by Owenjj3; 10/31/18 11:11 AM. Reason: Subject Correction
Owen
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Joined: Aug 2011
Posts: 704 Likes: 1
Sidelock
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Sidelock
Joined: Aug 2011
Posts: 704 Likes: 1 |
Owen, this is Morphy's second auction post merger with Julia's. The first was June 25-28, 2018.
As for the bidding procedure if that is what Morphy's are doing (I don't know because I don't leave bids with them) that is the same method used by Holts. You leave a bid via E-mail, PDF or Faxed and if it is the only bid they have on that item when it starts to sell, they list that bid as the starting point. For sure it is a disadvantage.
If there is something I definitely wanted I would either be there in person at the auction, bid live online or do the phone bidding. That way if you want it bad enough you won't be outbid.
Last edited by 1cdog; 10/31/18 06:26 AM.
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Joined: Nov 2006
Posts: 1,625 Likes: 73
Sidelock
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Sidelock
Joined: Nov 2006
Posts: 1,625 Likes: 73 |
A friend of mine bid on a Purdey pigeon gun but didn't win. He did the same as you.
I started to bid on the Boss round action. It went cheap.
Mike Proctor
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Joined: Jan 2002
Posts: 13,149 Likes: 1147
Sidelock
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Sidelock
Joined: Jan 2002
Posts: 13,149 Likes: 1147 |
Just a question, please, for those of you who are active in these auctions. What level of internet service would be required to participate in the live, on-line bidding? I have satellite service, and have the highest speed package available, but would DSL be required?
I guess I could register for one sometime and go online and just watch, in order to determine that. (?)
Thanks, SRH
May God bless America and those who defend her.
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Joined: Jan 2002
Posts: 637 Likes: 6
Sidelock
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Sidelock
Joined: Jan 2002
Posts: 637 Likes: 6 |
I bid $5000 online, prior to the auction going live, on a gun with an opening bid of $3000. The online service was “invaluable “. I was listed as high bid at $3000 and there was no other bidding prior to the auction starting. The gun hammered at $5000, my top bid! I didn’t get the gun. This has happened to me before at a Julia auction. I didn’t follow up. I’ve asked for an explanation this time. I was unable to follow the auction on line while it was in progress to bid more, If necessary. I’ll let you know what I learn.
Last edited by Bill Davis; 10/31/18 06:42 AM.
nid-28
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Joined: Apr 2006
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Sidelock
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Sidelock
Joined: Apr 2006
Posts: 258 |
A friend of mine bid on a Purdey pigeon gun but didn't win. He did the same as you.
I started to bid on the Boss round action. It went cheap. What did the Boss hammer for? It looked like a nice gun.
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Joined: Aug 2007
Posts: 247 Likes: 4
Sidelock
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Sidelock
Joined: Aug 2007
Posts: 247 Likes: 4 |
I've had the exact same experience Bill. If there is a tie, they always take the bid from the floor, even though yours was first.
Nothing the government gives you is free.
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Joined: Feb 2006
Posts: 3,728 Likes: 50
Sidelock
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Sidelock
Joined: Feb 2006
Posts: 3,728 Likes: 50 |
Bill, if someone else placed the same bid you did but before you, the first bidder is the winner. That is the way I have heard it.
David
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Joined: Jan 2002
Posts: 518
Sidelock
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Sidelock
Joined: Jan 2002
Posts: 518 |
The below explanation is copied from the FAQ page on Morphy Auctions website:
How are pre-bids executed and how does Live online bidding work?
On the day of the auction, if you left pre-bids online, these are transferred to the auctioneer fifteen minutes before the auction begins. Our online platforms close for absentee bids and open for live online bidding and to our auction floor. Morphy Auctions utilizes multiple bidding platforms, of which, our primary bidding platform is MorphyLive.
Live auction floor bidders take precedence, and win any tie bids against the internet. Our auctioneer takes these floor bidders first then checks his computer for your bids. Because this is a live auction, we do not offer “Buy Now” offers due to the agreement with our consignors.
Phone lines are limited, so please arrange a phone line at least 24 hours prior to the auction. As a phone bidder, your bids will take precedence over internet or absentee bids in a tie bid situation. During your phone bid you will hear the auction and the timing of the sale (the auctioneer does approximately 80 – 100 lots per hour).
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Joined: Jun 2006
Posts: 2,979 Likes: 297
Sidelock
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Sidelock
Joined: Jun 2006
Posts: 2,979 Likes: 297 |
So, you have 40 seconds to complete the bidding process?
Anyway, I have never had a pre-submitted "not to exceed" bid ever exercised at less than the "not to exceed" figure.
So, I quit bidding.
This phenomena is manifestation of these auctions maintaining straw bidders, who's only function is to raise the bid price up to whatever "not to exceed" bids they have received.
They aren't going to leave any money on the table if they have a live one sending in a bid.
I find it crooked as a snake.
So, I quit bidding, unless I can be in the room.
Out there doing it best I can.
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