HERITAGE UNLOADS 13,876 LOTS

GOLDSAINT

HERITAGE UNLOADS 13,876 LOTS

WOW I guess the Heritage people are not holding for 2004. They must have been planning this for months. How much work does it take to produce pictures and auction data for 13,876 Lots? Here is your chance to fill every hole you have. This massive auction includes U.S. coins, World coins, paper etc. Always wanted a PR 70 Kennedy, or a PR 69 accent Hair, How about a 1907 HR $20, they have over 10 for sale. Do you like Colonials they have nearly everyone ever made, pages of large cents, nearly ever $20 Gold ever minted. Every Auction opens at $1.00
So what do you say? Do they think the market is going to be soft next year?

sinin1

Every auction starts at $1, but most items are owned by other people - who will bid their own reserves.


how long does it take? I would guess 2-3 items (pictured, description) / person hour - they must have quite a few people working on the project.


a major sale like that will have 15-25% of items that go home with owners because $$$ not good enough.

Barry

When you say the buyer bids his own reserve. do you mean the seller must bid to get the coin back? If so, does he pay the buyer's fee? I thought a reserve means if nobody hits that price it goes back to the seller without any bid. No?

4thStooge

That every auction starts at $1 is a misnomer. Heritage RC Galleries is a bidder on every single item in the sale. They buy a large percentage of every sale often after talking consigners out of using reserves. The B&M Baltimore auction was soft. If Heritage's auction results are soft, too, this bull market is done.

jbsteven

<< <i>Heritage RC Galleries is a bidder on every single item in the sale >>



And how do you KNOW this?

GOLDSAINT

I did not know that Heritage was a bidder on all their consignments, I wonder what they will use as a price guide. I will no doubt bid on many items in this sale at wholesale grey sheets, just in case the market is getting soft.Will I win anything?

jbsteven

GOLDSAINT

they don't bid on their own auctions.

coinchallenged

Why wouldn't they bid on they own auctions? They have a retail division don't they? Makes since that any auction company would bid on stuff in an auction to make sure a coin that is worth 1000k retail doesn't sell for $20.00 at auction.

Peaceman

Up over 18k garbage coins for sale now.... well at least what I collect.... I see several coins that I've returned to them.... I think I kept only one coin from them in all of 2003....

4thStooge

<< <i>they don't bid on their own auctions. >>




Of course they do!

jbsteven

I will say it again.

How do you KNOW this is a fact?

4thStooge

JB,
Greg Rohan has openly discussed that issue of this forum. A few members have posted about their experience of being talked out of setting reserves when consigning and having the item end up with HRCG.

4thStooge

BTW,
If anyone can remember Greg Rohan's screen name I'll be happy to search for those threads. Charlie Mead actively posts on the Currency forum. You could certainly ask him about it.

CarlWohlforth

<< <i>how long does it take? I would guess 2-3 items (pictured, description) / person hour >>



I can do 3 items/hour or better. I'd guess they can do much better than that.

Mark

JB:

I don't know if Heritage bids on all the coins they auction, but I do know that they bid on at least some because I've followed coins from their auction directly to their website. These were coins that Heritage did not own before the auction because they were part of a "named" collection.

Personally, I see nothing wrong with this action on Heritage's part. It helps the consigner because it prevents a coin going for 10% of its market price. And if Heritage thinks they can sell a coin for more than it costs them to buy it at auction, that's great for them.

Mark

kranky

Greg Rohan posted here a few times under the handle "HeritageGreg"

The old thread that discussed Heritage bidding on items in their auctions started here and the followup is here.

Placid

I wonder how many coins will be in the F.U.N. bullet sale.

Trooper

Are all of their auction coins in this auction listed on Ebay? If they are I wonder if they pay the same listing fees or do they get a volume discount. What about reserve fees?
What about final sale fee? If a Ebay bidder wins an auction does Heritage have to cough up the cash to Ebay?
Tom

4thStooge

Thanks, Kranky.

Outhaul

What's the difference between the bullet sales and their other auctions?

Cheers,

Bob

BAJJERFAN

<<"Are all of their auction coins in this auction listed on Ebay? If they are I wonder if they pay the same listing fees or do they get a volume discount. What about reserve fees?
What about final sale fee? If a Ebay bidder wins an auction does Heritage have to cough up the cash to Ebay?">>


I would assume those fees are the reason that the juice on eBay listings is 20% instead of the usual 15%.