Heritage live auctions?

spoon

What's the scoop on Heritage?

I've been roaming ebay and keep coming across these captivating titles, click on them to find that it's a Heritage live auction with either no pictures or just one side.. and even then it's a crappy scan. Despite that, I'd like to try for at least one coin there. But I've never dealt with them before, or that kind of auction.. Can anyone share their experience/advice?

lordmarcovan

I've dealt with Heritage with no problems, on their Exclusively Internet auctions. The Exclusively Internet auctions do not have a buyer's premium attached, whereas many of the others do- be sure to take that into account.

I don't like the Live Auction listings in eBay, though- they clutter up the listings. If there was a way to just bid on them like any other eBay auction, fine, but having to jump through all the hoops is a headache. I think those should be conducted on the Heritage site.

That being said, Heritage is fine, and you can deal with them confidently. They are probably the biggest numismatic auction firm in the world. (At least, I think they claim that on some of their letterheads.) Once you become an established customer with them it's worth your while to deal with them. I have even had them send expensive coins to me before payment was received, much to my surprise!

I have never dealt with them on non-US material but have always been content, if not pleased, with what I bought from them. Their scans are sometimes lousy but you must take into consideration the sheer number of coins they have to image and put online. I've never had to return anything, but I am sure their return policies are solid.

cacheman

Go to www.heritagecoin.com and click on their different auctions to browse or search. They actually have pretty nice images of everything for the FUN show. I got a Gothic and proof BoE from them last year. The only problem was they were very slow in processing the payment and getting the coin to me. I don't deal with their ebay crap.

JohnZ

I've also bought from Heritage on their website, and I also ignore their eBay crap.

What LordM said.

spinaker2000

I have gotten a couple of nice pieces from them. I don't like the BP either, but sometimes it keeps away the competition and you may get a good deal. Give them a try from their home site.

ccrdragon

The other thing that you need to be careful of on the ebay auctions is the 20% (yes, 20%) buyer's premium that they charge!

spoon

I knew I forgot to complain about something.. 20%? good lawd dats a lot o money!
Nah, I've heard you guys speak well of Heritage before, I know they're good based on that.. and really that's why I had to ask what the dysfunction is with their ebay auctions. But it's understandable considering the volume they're dealing with.

So, I guess I should be easy and stick to the homepage then? Do coins run through there before they make it to their eBay operation, or how's that work?
Thanks for all the input everyone!

newsman

The buyer´s premium is only 15 percent if you bid from their website, but that bidding closes the day before the live auction, so when you´re outbid you´re screwed. The only advantage of the eBay bidding is it´s live and you can react to other bids.

1960NYGiants

I just won a liteside 2003 PCGS MS69 $10 gold First Flight for less (including the BP) than I could buy it from the mint.

I know - I know - just wanted to show that one can get a good deal if one pays attention.

Gene

spoon

One more question on this: They use reserves right?? There's too much nice stuff sitting there for $1... If there is a reserve, do they use it on all lots or just ones where it's requested. In the latter case, how can you figure out which ones have a reserve?

I haven't placed any bids yet, but I guess that'll be the best way to learn without bugging you guys so much That or I should probably start sending these questions to Heritage

spoon

Sounds like a good deal there, Gene!

Askari

<< <i>The only advantage of the eBay bidding is it´s live and you can react to other bids. >>

Well, sort of. From what I hear, when the bidding is going on, the response time slows down tremendously and you can easily miss getting a "live" bid in. It's hard for me to justify paying an extra 5% for the extra frustration just because it's on eBay.

shirohniichan

I plan on bidding at the next two Heritage world coin auctions and the Stacks auction. There are so many nice coins that I have to really limit what I bid on. The first draft of my bid sheet had way too many "fringe" items.

newsman

<< <i>One more question on this: They use reserves right?? There's too much nice stuff sitting there for $1... If there is a reserve, do they use it on all lots or just ones where it's requested. In the latter case, how can you figure out which ones have a reserve? >>



They work hard to discourage sellers setting reserves, which means some coins do get picked up for bargain prices. But they also sell the good stuff in auctions where there are both Internet and live bidders and can usually pick up strong bids for the good stuff from people who are able to view the coins in the live auction.