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Why does Heritage increase their Buyer's Premium to 25% if a medal is listed in cat other than coin?
DCW
Posts: 7,583 ✭✭✭✭✭
Coins: 20%
Collecitibles: 25%
Same item with a 5% increase.
I know, I know...everyone calculates their bids accordingly. So nothing changes, right? Seems excessive to this bidder.
I've seen them do this in the past up to maybe $300? But never $300,000!
Edited to be more precise
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
1
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Forget ha, they push up the price a lot. Don’t buy from them. Their service are getting worst.
good way to ruin a business, customer first means nothing to them
What auction is that for? The next Signature sale still shows 20%.
This is for the auction happening right now. Political memorabilia
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Coins are 20%. Different categories (art, etc.) are used to higher buyer's fees. This is nothing unusual.
The buyers' fee remains the same 20% for coin auctions. The other departments have those scaling buyers' fees, as those auction lots require more research to adequately describe them and photograph them. (Coins and medals are generally in the same size range for photography, but these things like dinosaur bones are quite different.)
That is not a new rate. I checked and saw that it was the same at least as far back as 2014.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
A lot of tokens and medals are sold in the political category so there is a bit of cross over for exonumia collectors.
Plus tax and shipping makes you wonder glancing in the mirror if you can spot idiot written on your forehead?
@BillJones is on top of this
Apparently the socialists at the European auction houses came up with this racket first
Any other late-breaking news for us?
This is exactly what I'm talking about. Medals can be sold in either category so why the 5% hike?
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
@DCW Perhaps you should edit your thread title since it is inaccurate?
"Got a flaming heart, can't get my fill"
It is a different rate. It depends on what category the medal is listed. If lumped in with coins, which happens often, it is 20%. If in with other "collectibles" it is 25%.
So is my title really "inaccurate?"
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
With respect to the 25% buyer’s premium mentioned in your thread title, I think the answer would be:
In 2013 (for political items), but that rate does not apply to rare coins, whose rate is unchanged.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Ok, edited to reflect more on my question as it has been pointed out that coins category remains a mere 20% BP.
But my point is that collectors of exonumia often find their stuff lumped in with other collectibles, which are 25%. Other than, "That's the way Heritage does it in that particular auction," any thoughts?
Sorry for confusion, folks
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Inaccurate? Trollishly misleading.. Any initial reader of the headline will immediately assume it is their coin rate.
Worthy of the National Enquirer
I see that the good colonel made a comment to this thread just before this one but I can’t see it? Also can’t see any comments in aggregate when I visit his profile page.
"Got a flaming heart, can't get my fill"
Look at it the other way: if you were bidding in the political memorabilia auction and some items had 20% premiums and other had 25% premiums, wouldn't that look confusing?
The BP goes with the auction not with the item.
@jmlanzaf
That is my point. Why are there different BP's?
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
That's pretty common among auction houses. It probably relates to the specific market. I mean, what goes in housing doesn't work in groceries. What works in groceries, doesn't work in books. It's true everywhere: why is the mark-up on numismatic supplies (albums, price guides) 40% but only 5% on bullion? Because that's the market.
I wouldn't expect the cost of acquiring and cataloguing to be the same in cars as it is in coins, for example.
Yes, but we're talking about the EXACT same item listed in different auctions, not groceries.
Nevermind. There really is no explanation.
Auction rules and regs are what they are. We as bidders can decide when enough is enough
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
He's in some kind of time out.
There is an explanation. You're just not willing to see it. Auction categories have different fees. It doesn't matter what's in the auction. If you put a coin in a car auction (don't ask why), the coin will have the BP of the car auction. The fee belongs to the auction. Occasional cross over item aside.
This is true even on eBay. If you list a medal under coins/exonumia, the FVF is 6.15%. Put the same coin under Collectibles/World's Fair and the FVF is 10%. Put the same coin in guitars, the FVF is 2.5% (or 3%, something like that)
You also might find out that the Seller's Premium is different for different auction types.