Heritages new deal---amount equal to 15% (minimum $6 per lot) of the successful bid.

mercury1

"This auction is held on-line only. There is no floor auction associated with this auction. Online bidding ends at 10:00pm CT on September 3, 2002. The applicable buyer's premium for this Auction Sale is an amount equal to 15% (minimum $6 per lot) of the successful bid. "

That is the new header for their online auction that they have every week. A min. of $6!!! What are they gonna do next charge a "premium" just to bid in their auctions.

goyankeez

Seems like a lot. I only bid on ebay auctions. I can see paying a buyer's premium for some super high quality stuff, but I'm not going to bother with stuff I can find on ebay or elsewhere. Of course if I was going to bid in one of their auctions I'd take the premium into consideration when I set a price limit on an item. That's a given.

TWQG

It looks like they're trying to discourage cheap slabs.

lordmarcovan

<< <i>I only bid on ebay auctions. I can see paying a buyer's premium for some super high quality stuff, but I'm not going to bother with stuff I can find on ebay or elsewhere. Of course if I was going to bid in one of their auctions I'd take the premium into consideration when I set a price limit on an item. That's a given. >>



Ditto. I totally agree. I use eBay first, then Heritage for those tougher, harder to find items. But in the occasional transaction I've done with them, I have no complaints. Usually if I bid, it is in one of their "Exclusively Internet" auctions without the buyer's fee.

BigD5

Lord, I believe that header is from Heritage's Exclusively Internet auction. They now charge 15% with those auctions too. Just factor in the 15% into what you are willing to bid, and the $6 is to ward off cheapo coins that would sell for under $50 or so. Although if they are charging that $6 to the buyer.............?

lordmarcovan

Oh, well. If that is the case, there goes my business.

No, I'll still check 'em out from time to time. But my bids will be 15% less.

They have emailed me about consigning some of my leftover Registry material. I told 'em I'd think about it. I could probably do better myself on eBay. Especially if they are taking a bigger chunk for themselves, now. Whaddya think? Does this mean the consignors will get about 15% less for the coins they put up for auction?

rkfish

Bigd,

That $6 is to the buyer.....it's either 15% or $6 whichever is greater.

itsnotjustme

Heritage generally does not want coins that are worth less than $50. You must admit there is overhead work for them to receive, store, image, list, bill, ship, archive, etc. They will accept some cheaper coins along with others so that they get the bigger items they want. If you went to them with 10 $30 coins, I bet they'd decline.

Trime

Heritage changed their fee schedule on Exclusively Internet auctions many months ago when they went from no buyers fee to 15%. The $6 minimum was added very recently . It is my impression that they administratively manage the "EI" operations independently from their floor auctions although both are posted on their outstanding web site. Heritage IMHO is a very well managed Numismatic auction operation. It is not as intimate as some of the other auction houses but from a business operation standpoint not many obvious flaws.

dbldie55

Teletrade has a minimum buyers fee also.

Bikingnut

They've been charging that 15 percent buyer's premium on all their auctions, including exclusively internet auctions for a year or so now.

gmarguli

Their "Exclusively Internet" auctions seem to consist of coins that they couldn't sell from their inventory. Practically nothing special is ever listed in an EI auction.

If the $6 fee reminds you of TeleTrash it should. EI auctions are also a dumping ground for less saleable coins.

OldeTowneCoinShoppe

Admit it. You'll still bid and buy at Heritage just as much as you used to... if not more!

Batman23

@OldeTowneCoinShoppe said:
Admit it. You'll still bid and buy at Heritage just as much as you used to... if not more!

I wouldn't expect a response... Old Merc has not been active for over 16 years.

As for me, I still bid but I don't win too much. I remember the 15% days, It has been 20% for a long while now.
My last win was a simple $195 hammer. By the time they added on the 20% + the shipping + the credit card fee + the local tax it came out to $271. That is a substantial percentage over hammer. Still worth looking and bidding, ya just gotta be careful with the end price.

Catbert

@OldeTowneCoinShoppe Would have been nice to begin your post with an alert you’re bumping an 18 year old thread.

MsMorrisine

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Zoins

@goyankeez said:
Seems like a lot. I only bid on ebay auctions. I can see paying a buyer's premium for some super high quality stuff, but I'm not going to bother with stuff I can find on ebay or elsewhere. Of course if I was going to bid in one of their auctions I'd take the premium into consideration when I set a price limit on an item. That's a given.

This might cost you. Some dealers will buy items on Heritage and the charge really high markups on eBay for the same item.

MsMorrisine

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Zoins

@MsMorrisine said:
RESURRECTED THREAD ALERT

Thanks for the alert.

At first I was wondering if Heritage was reducing their BP due to Covid!

coinbuf

@OldeTowneCoinShoppe said:
Admit it. You'll still bid and buy at Heritage just as much as you used to... if not more!

Really old thread, but in my case you are wrong, I buy much less thru Heritage now than I did then.

ms70

@MsMorrisine said:

RESURRECTED THREAD ALERT

Thanks. For a minute there I thought they decided to be less greedy.

chesterb

@coinbuf said:

@OldeTowneCoinShoppe said:
Admit it. You'll still bid and buy at Heritage just as much as you used to... if not more!

Really old thread, but in my case you are wrong, I buy much less thru Heritage now than I did then.

Same here and now I am even quietly assembling one of the best circulated type coin sets in the country so @OldeTowneCoinShoppe you need to check yo'self and not get in my way!!

gradeacoinsebay

Aw I got excited thinking the premiums were going down.

oih82w8

There really ought to be a different color of thread background to indicate old threads. @HeatherBoyd

MsMorrisine

how old?

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2ndCharter

how old?

Ancient - Some of the original posters in this thread haven't been around for over a decade. (though some still are).

oldabeintx

Dang I thought they had lowered their buyers fee. Aught to be a law against resurrecting these old threads without warning.

CalifornianKing

Dang I was confused AF. I was like "wasn't it like 20% for a while?"

Elcontador

After seeing this, when will we see a "Greg the Great" thread raised from the dead?