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Press Release - July 2, 2019
Heritage Auctions Splitting Online Bidding IncrementsNew bidding structure benefits customers and consignors by increasing bidders’ options
DALLAS, Texas (July 2, 2019) — Heritage Auctions has announced a change to its bidding practices that will allow more bidders to pursue items in online auctions.
Effective immediately, the increments in which collectors can bid in Internet absentee bidding will be cut in half. The change will not affect live bidding (including HA.com/Live), in order to save live bidders time by keeping the bidding in live sessions moving at a brisk pace.
"This change will benefit both buyers and sellers," Heritage Auctions Co-Founder Jim Halperin said. "Cutting in half the size of bid increments will increase the confidence and aggressiveness of buyers who are unsure about increasing a bid, and it benefits the sellers by making more clients more likely to leave a proxy bid on a wider array of available lots."
The change is significant for Heritage Auctions, as approximately 60% of Heritage Auctions' 2018 sales were conducted online.
With more than 40 categories of art, jewelry, collectibles and other valuable objects, Heritage Auctions is the largest auction house founded in the United States and the world's leading collectibles auctioneer.
Heritage Auctions is the largest fine art and collectibles auction house founded in the United States, and the world's largest collectibles auctioneer. Heritage maintains offices in New York, Dallas, Beverly Hills, San Francisco, Chicago, Palm Beach, London, Paris, Geneva, Amsterdam and Hong Kong.
The Internet's most popular auction-house website, HA.com, has over one million registered bidder-members and searchable free archives of four million past auction records with prices realized, descriptions and enlargeable photos. Reproduction rights routinely granted to media for photo credit.
Steve Lansdale, Public Relations Specialist
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