Dang! 10%, 15%, 20% now 22.5% where will it end!!!

MadMarty

<< <i>-- The Buyer’s Premium is 22.5% for all internet purchases. >>



Sorry I won't be bidding on these, so the rest of you guys can go for it!

RYK

where will it end!!!

You will just send the auction company money but won't get any coins.

BTW, anyone ever hear of this firm?

Sphinx357

22.5%?!
What a f**kin' joke.

K6AZ

The biggest joke is the $150 minimum bid for a 1970 proof set, and with their "buyer premium" that's $183.75.

Edited to add: Oops, that is for 27 sets. Still, 22.5% is ridiculous and I wouldn't bid just on the principal.

MadMarty

The auction is for 27 1970 proof sets.

291fifth

It will end when collectors just start saying "NO".

K6AZ

Yeah, I caught that Marty. I'm still working on getting my caffeine fix for the morning.

Sphinx357

There's a nice 1882 $20 Gold Certificate there in a lot with a $10 that I could care less about. But seeing that they refuse to give grades and that rediculous buyers premium, I'll pass.

INXS

I would pass based just on their feedback. They want me to register first, they should put up a bond for me in case they dont come thru.

UncleWiggly

NOT ME EITHER. And, I emailed them and told them also.


Jerry

RYK

Per their terms on their website, if you bid directly with them (not through ebay), the buyer's premium is the customary 15%.

Barry

Which means EBay upped their cut from 5 to 7.5% percent...

Wonder if that 7.5% will hold for the next Heritage, Superior, etc for the Ebaylive auctions?

TheNumish

The ebay fee's are probably the same. They just want to make a little extra to cover the extra time they took to list the items.

In the terms they state "Seller is responsible for packing and mailing items." Not very user friendly.

roadrunner

There is plenty of competition at the current 15% rate. Anyone going higher than this is only cutting their own throats. The newbies bidding on ebay might not realize the net rate is 22.5%.
It might catch them once....but not twice.

rr

mrearlygold

<< <i>where will it end!!!

You will just send the auction company money but won't get any coins.






Hahahahahaha! Maybe!

Goldbergs get a premium over 15% too on the internet and you even have the priviledge of seeing the auction at the same place, every time ( don't the consignors realize there's a great big country out there?)

It's almost funny, really.

Tom

Bubblehead

Hmmm?
I counted 29 of the proof sets.
Smoeone grabbed the 2 sets w/DC/C after they took the pic!

coynclecter

The buyers think that it comes out of the sellers final price and the seller thinks its a buyers premium. The seller gets a nice profit based on appreciation and buyers figure the value is going up every day. Meanwhile, the auction companies are getting rich. In addition they add thier own overgraded trash and don't tell the bidders that they own it. It will only end when the prices start to come down and then everyone will have to be more careful about what they buy/sell because appreciation won't bail them out of thier fees and mistakes. That might be awhile.

Coinhusker1

Must the the high overhead costs of operating out of Cedar Falls, IA.

Conder101

It is 15% if you buy it on site and pay with cash or MO (cash equivilent), 20% if you buy on site and use a non-cash equivilent (check or Credit card), and 22.5% if you buy it through the ebay live auction. So it is 15% if they have no delay in getting their hands on the money, and extra 5% if the have to wait for the check to clear of pay a % to the credit card company and yet another 2.5% if they have to pay fees to eBay.

edited to correct typos.

Elcontador

Condor got it down to basics. If you don't like the terms of an auction, you don't bid. It's that simple.

I don't want to hijack the thread, but I wonder how many people who are complaining about the terms of this auction actually bid on coins solely based on an image, on which according to the auction, there are no return privileges (some of the majors do this re slabbed lots).

mercurynut

A good one to stay away from!

haletj

On the topic of BP, anyone get that add to consign to Heritage... tells you why consigning is better than selling to a dealer...lists 6 coins and 6 bids from each and totals what each dealer would pay and what you get... and CONVENIENTLY doesn't include the fact the dealers pay %15 BP and would actually bid %15 lower and you would actually get less than if you sold to a dealer outright according to Heritage's own numbers!

ttown

It ends when the stupid sell decides he could do better on Ebay or to someone on this board. 22.5% buyers fee and you may as well sell to a dealer because all but the newbee won't add that into his price.

samingeorgia

I read it that way too and thought "I'm rich! I'm rich!"
Then I realized it was for 27 of 'em.


Ah, shoot... now I gotta go to work tomorrow.