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Heritage consignments
libertycaps
Posts: 7 ✭
I'm planning on consigning about 10-15k worth of coins to Heritage in the near future, and have read about people piggybacking with dealers who are frequent Heritage consignors in order to get better rates.
Would anyone here be willing to share with me (in this thread or by PM) the names of some trustworthy dealers/big Heritage consignors who they have worked with in the past to get better consignment rates? Any help would definitely be appreciated, thank you.
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What types of coins specifically are you looking to sell? Depending on the answer, the dealer recommendation would likely be very different (who knows, auction may not be the best way to liquidate them). I think you'll do much better going through a dealer that has an established relationship with Heritage and is more a 'big fish' than just cold calling and consigning 10-15K of coins with Heritage yourself...however, you should keep in mind, the dealer would be providing a service to you by doing this and you shouldn't expect this service to be free.
Yes, this 'service' provided would be the equivalent of a 'buy and sell', since the auction transaction would be going through this others dealers books, so to speak.
My local guy does it for people, but that's not helpful if you are in California. He gets -5% and so he typically gives a consignor -3% and keeps 2% for himself. You really need someone YOU trust.
I'm not sure what you are looking for rate-wise, but you could try simply negotiating a 0% rate with Heritage. It's going to depend on what the consignment has in it, but it can't hurt to ask. Last time I consigned to Heritage, I simply asked if they would give me 0% and they said yes. That was a single $6000 coin, they are probably less likely to do it on 50 $200 coins, but it depends on how competitive they want to be.
It is, however, impossible to make a recommendation without some idea of where you are and what kind of coins.
Thank you to those who responded. Here's some more information:
The consignment coins are worth around $500-800 each with at least 2 coins worth around $2,000 each. I'm looking to get somewhere between -5% to -3%.
I live in Massachusetts, but have no problem shipping coins to another state.
Typically the auction houses waive the sellers fee for the dealer, who will then charge you 5%.
you should consider using great collections
What are your selling costs on heritage as pct of sales? What does buyer have to pay as fee? Subtract these numbers from what u think they will they will realize (pct of cdn bid).
In online auctions my high bid about 95 pct cdn bid less any buyers fee. I win about 60-75 pct of time especially in this market / summer doldrums. Items closing later usually get lower bc bidders ran out of money.
I offer sellers at my table at shows 85-90 pct cdn bid which is usually higher than their net online auc after fees and shipping.
So you are winning 60%-75% of the time at 23% back of bid? I like you just fine but unless you are buying MS-63 Morgans or Commems all the time, NO WAY!
GC 0% if hammer price is $1000 or more, 5% if less than $1000.
GC can submit to TPG’s and CAC for you. You pay the submission fees but no postage.