Heritage recently acquired a non-coin auction business

Longacre

I recently read a press release that Heritage purchased a non-coin related auction company (the name escapes me at the moment). I know that Heritage does other types of auctions (other than coins), but does anyone know what percentage of their revenues are made up of coin auctions versus other auctions? Should we take this as a sign that the coin auction/hot market that we are experiencing may be cooling a little and Heritage is looking to further diversify before the coin market really takes a turn? Does anyone have any thoughts?

tradedollarnut

Once you have the fixed overhead of the operations they have, it costs relatively little in marginal overhead to add a division... or two .... or three! They are pursuing a business plan that makes a lot of sense - and executing it well, I might add.

Trying to read into it what you have is grasping at straws.

MrEureka

Should we take this as a sign that the coin auction/hot market that we are experiencing may be cooling a little and Heritage is looking to further diversify before the coin market really takes a turn?

I'll add to TDN's comments that most if not all collectibles markets tend to move in the same direction. If Heritage was looking to hedge against a cooling coin market, they would not be buying more collectibles auction companies.

northcoin

This is not a good sign. Usually it is the collectible companies that start expanding into coins that have given a bad name to numismatics. Could work the other way too though in the long term. The "business model" is more like High Overhead dictates high profit margins dictates overpriced collectibles.

BaronVonBaugh

I have seen original art being auctioned by them.