Was going to bid on a Heritage auction until...
stev32k
Posts: 2,098 ✭✭✭
I look at their feedback LINK and decide I'll pass. Would you buy from someone with feedback like this? If anyone else had that many complaints over non-delivery of items they had won they would be NARU'd. I won't be buying anything from Heritage in this lifetime.
Who is General Failure, and why is he reading my hard drive?
0
Comments
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Link no work.
its works now.bad bad feedback.
I would not hesitate to bid in Heritage's auctions, if I had seen the lots beforehand. Bidding based on a photo, no matter how well done, is risky.
Heritage is not going to rip you off.
Those are NOT numbers that would scare me away from a well known seller.
which I did ,im still waiting for my refund..............Going on five weeks
Al
I have my gripes with Heritage, but they are definitely not a fly by night eBay seller.
I keep remembering that Enron also had an excellent reputation until someone found out they were cooking the books. Now if any company does not live up to any agreement I get skeptical real quick. I believe an honest, ethical company lives up to it's agreements or at least explains why it could not do so, and what steps it was taking to correct the problems. I don't see that here.
They are not negatives for taking peoples money and then not delivering.
People think they have won on eBay Live, but lost out to live floor bidders.
They have some operational problems, but are not a rip-off.
My posts viewed
since 8/1/6
Plan to keep buying from them.What PO'd me was ,why do I need to fill out a five page report for a lost coin,
And wait five weeks ,and still waiting for a refund?
Al
<< <i>Everyone on this board knows Heritage is an honest company. >>
We all know they won't take your money and not send the items, that's not good business.
<< <i>
<< <i>Everyone on this board knows Heritage is an honest company. >>
Would you please define the word "honest' We all know they won't take your money and not send the items, that's not good business, but does honesty include issues like:
overgrading thier own stuff?
shill bidding?
undergrading items they want to own?
maxing out you "secret maximum"
or do we need to play a semantics game about what is honest and what is ethical? >>
I certainly hope you have some basis for your allegations.
<< <i>Would you please define the word "honest' We all know they won't take your money and not send the items, that's not good business, but does honesty include issues like:
overgrading thier own stuff?
shill bidding?
undergrading items they want to own?
maxing out you "secret maximum"
or do we need to play a semantics game about what is honest and what is ethical? >>
Coynclecter, do you have any concrete proof of such insinuations or accusations?
The majority of the coins they auction are certified, so they don't/can't even "over-grade" or "under-grade" those items.
I've seen NO evidence of their being involved in shill bidding or "maxing out" bids. That is based upon my bidding in their sales over a period of several years, as well as my conversations with major buyers who leave bids with Heritage and/or bid on line.
Twice in the last year I have received coins before I made arrangements to pay for them.
Four or five times I have received emails asking for payments that I had already made on their secure site.
I have also had numerous problems using their site to make payments. My guess is that they have
tried to expand faster than they should. They also have coins listed in my account that I've never bid on.
But my chief complaints are still the same --
How can they charge me state tax (CA.) when they have no brick and mortar presence in the state?
Why is there a $9 per lot fee on top of their 15%?
And here's a new one. Last week I won a lot that ended at 10 PM. 2 hours before the auction ended I get
an offer to BIN the coin for 20% more than what turned out to be my winning bid? That tells me that their
profit is more important to them than their bidders.
Another thing. A while ago I knwew they were going to list a number of Barber dimes I was interested in.
I was online the minute the lots were posted. Every one of the lots already had 2 bids. When I asked about
that I was told the 2 bids represented the consignor's reserve price. On eBay you know immediately if your
bid has matched the reserve or not. With Heritage they feel out the market a while before setting a reserve.
Now I see they don't bother listing the number of bids on a lot until you click on that coin. They didn't want
everyone to see the string of 2-2-2-2 bids when you call up a series to look at.
All these factors contribute to my lack of confidence in their way of doing business.
Steve
Why are all my winning bids at my max?
Steve
<< <i>How can they charge me state tax (CA.) when they have no brick and mortar presence in the state? >>
Boyhowdy, I think you have the state of California (not Heritage) to thank for that
No, I don't because that is not the case. From the FAQ
<<Q: In case of ties, who wins?
A: If two or more Internet bidders place absentee bids for exactly the same amount, the earlier Internet absentee bid will be communicated to the auctioneer. It is the discretion of the auctioneer that determines if the Internet absentee bid is accepted. If there is a tie between a floor bid and Internet bid, absentee or live, the auctioneer decides the winner.>>
The lesson here is you need to take the auctioneer to lunch and get to know his wife and kids. That way you will win any tie bids.
<< <i><<Do you even understand that in live auctions, the preference goes to the floor bidder?>>
No, I don't because that is not the case. From the FAQ
<<Q: In case of ties, who wins?
A: If two or more Internet bidders place absentee bids for exactly the same amount, the earlier Internet absentee bid will be communicated to the auctioneer. It is the discretion of the auctioneer that determines if the Internet absentee bid is accepted. If there is a tie between a floor bid and Internet bid, absentee or live, the auctioneer decides the winner.>>
The lesson here is you need to take the auctioneer to lunch and get to know his wife and kids. That way you will win any tie bids. >>
That's dealing with a tie between internet (eBay Live) bidders.
You're shooting off the hip again.
Those in glass houses.....
No. Absolutely I am not shooting off the hip. I am no stranger to auctions, both live and internet. Heritage makes a passing reference to the problem of lag time in internet auctions vs live auctions. I can promise you with first hand experience that is a large problem. In a live auction the bidding continues until the auctioneer decides no one else is going to bid. When you are there it is obvious that the auction for that item is over. No one is holding up their hand, or number, or shaking their head - it's over, and it's obvious. In an internet auction there is no body language or visual signs the bidding has ended - there is only the clock. That is the real problem. You cannot have one set of rules for two different events. In a live auction - it's over when no one bids anymore. In an internet auction it's over when the clock runs out.
The problem as I see it is that Heritage is trying to use both formats to their profitable advantage. And it appears to be working - at least for now. But I predict it will end.
<< <i>Why are all my winning bids at my max? >>
Gee, haven't we heard that one before.
<< <i>The majority of the coins they auction are certified, so they don't/can't even "over-grade" or "under-grade" those items. >>
You might venture over to the currency forum sometime.
Most major fiduciary institutions have audits that testify as to thier methodologies to assure the public that they are being treated fairly. I'd like to see those required of the major auction companies. When they buy and sell in thier own auctions .....................you can believe what you wish.
Positive Feedback: 98.6%
After looking at the feedbacks, many if not most are from people who just didn't understand how the bidding is setup. I don't like how the bidding is setup, so I don't bid via Ebay. I DO buy from Heritage and have never had a problem. The problem is in the Ebay - Heritage live auction setup, not with Heritage as an auction house. Heritage should just drop the Ebay crap!
Coin Show Schedules - www.CoinShowDates.com
When selling, I always leave feedback when paid and have never had a problem.
I would never have a problem bidding on their coins until I have a problem.
and thay don;t have feedback at there site.do thay!!
is anyone hearing what not beening said,most want said anything because of fear of being sue.
that all i got to said.
littlejohn
as opposed to grilling them? I see mainly accuasations, but no facts (yet). Maybe there
were some issues in the past that have been corrected?
I'm not saying they are perfect, but with their large partnership in this "industry" they
have a lot more to lose rather than gain if such (negative) statements are true - IMO.
Communications was a breeze prior to and during the auctions but now that it's over I do not even get my calls returned. I'm four hours from Dallas and just may take a ride and take the tour here pretty soon.
As for paying, when I win I always pay immediately but still receive bills with what I feel was some rather nasty, threatening tone. Suppose I do that to them and send a similar notice whereas payment is due now and if not carried out as such, I hit them with the highest interest allowable by law, the pleasant way they write this on bills sent to me for merchandise that has already been paid for?
Doesn't anyone find it odd when an item has but two bidders yet the next bid meets the reserve? How blatantly "strange" is that? Get real. You can only get sued for damages if you slander people but when you have proof positive in the form of saved email, who has who by the neck?
I want my money and I want my buybacks. These auctions ended almost a month ago.
<< <i><<You're shooting off the hip again.>>
No. Absolutely I am not shooting off the hip. I am no stranger to auctions, both live and internet. Heritage makes a passing reference to the problem of lag time in internet auctions vs live auctions. I can promise you with first hand experience that is a large problem. In a live auction the bidding continues until the auctioneer decides no one else is going to bid. When you are there it is obvious that the auction for that item is over. No one is holding up their hand, or number, or shaking their head - it's over, and it's obvious. In an internet auction there is no body language or visual signs the bidding has ended - there is only the clock. That is the real problem. You cannot have one set of rules for two different events. In a live auction - it's over when no one bids anymore. In an internet auction it's over when the clock runs out.
The problem as I see it is that Heritage is trying to use both formats to their profitable advantage. And it appears to be working - at least for now. But I predict it will end. >>
I've been buying from Heritage for over five years. I've won many coins in their auctions for well under my proxy. And if you think their live auction feedback is bad, check out Superior's or the Goldbergs. That is why they all use separate accounts for live auction sales.
As far as bidding through eBay goes, to be perfectly blunt, anyone who bids through eBay isn't being smart with their money. You can bid directly through the Heritage auction site for bid plus 15% juice, as compared to 20% through eBay.
<< <i>Doesn't anyone find it odd when an item has but two bidders yet the next bid meets the reserve? >>
Boom, you could have considerably more than two bidders and still see that the "next bid meets reserve" and there is nothing "odd" about it.
It is my understanding and experience that once the reserves have been entered, the bidding amount is automatically set so that the next bid meets the reserve. There is nothing secretive or dishonest about that - on the contrary, bidders know up front what they need to bid in order to meet the reserve. I applaud Heritage for this policy.
In my opinion this was but one example of unfair/unfounded accusations having been made in this thread.
I just wish that they would improve the imaging.
A THOUSAND bidders could bid below the "possible" reserve, of course. But once the reserve secret is out, Heritage does a great job of setting up the lot so the next bid will cover the reserve. Seems legit to me.
In fact I just heard from them
eBay:
In our experience, what has caused the most negative feedback with regard to eBay has been people who thought that they had won items but who did not win against a floor bidder. There are any number of things that can cause this, such as:
(1) Technical problems with eBay. We all wish eBay Live worked perfectly all the time. Unfortunately, for any number of reasons it doesn't, and this can cause bids that occur in the floor sessions of our auctions not to be reported to eBay at all. When this happens, eBay will show the high eBay bidder as the winner of the item, regardless of the amount of their bid, which can sometimes be far less than what the item sold for on the floor.
(2) The way eBay Live reports bids. There are a lot of things we are able to do with bids from our website that we would like to do with bids through eBay Live, but which we are simply unable to do because of the way eBay communicates. Ebay does not let us link to the current bidding level on any item, nor do they allow us to update the bidding levels. In fact, we know nothing about any eBay Live bid before the lot opens on the floor. Often what will happen is that a lot will rise to exactly what the high eBay bidder has bid, and no higher. If a live bidder is the first to place a bid at this amount, eBay cannot let us know that there was another bid of the same amount, as this would no longer be a valid bid. Still, in this case, eBay will show the eBay bidder as the high bidder for the item.
In both of these cases, an eBay bidder may leave negative feedback if they thought they had won an item, and a couple of posters have correctly pointed out that this is a pitfall common to any auction house that holds live auctions that are carried through eBay Live. We're happy to explain what happened to anyone who asks, but occasionally people used to eBay auctions don't understand that live auctions work a little bit differently than ordinary eBay auctions, and will thus leave negative feedback.
Stev32k posted the eBay Live FAQ about tie bids:
<<Q: In case of ties, who wins?
A: If two or more Internet bidders place absentee bids for exactly the same amount, the earlier Internet absentee bid will be communicated to the auctioneer. It is the discretion of the auctioneer that determines if the Internet absentee bid is accepted. If there is a tie between a floor bid and Internet bid, absentee or live, the auctioneer decides the winner.>>
This means only that the auctioneer will choose the first person that he sees or hears as having placed the bid. Our auctions move too fast to do anything else. Because eBay Live bids tend to come in relatively slowly, floor bidders almost always are able to place a bid before an eBay Live bidder and even an eBay Live absentee bidder.
"Next Bid Meets Reserve:"
Boom asked, "Doesn't anyone find it odd when an item has but two bidders yet the next bid meets the reserve? How blatantly "strange" is that? "
We'd like to thank the posters who answered him. I'll add that we count the reserve as two bids by design. When we post the reserves, this allows us to move the current bid on a lot to the point where the next bid will meet the reserve. Any time you see an item where there are two bids and the next bid meets the reserve, that means that the only bid on the item is the consignor's reserve.
Claim forms for lost payments:
Yes, the form is indeed five pages, but that is only to meet insurance and/or Postal Service requirements. If something like this happens to you, basically all you'll need to do is to sign it, date it, check a box that says that you never received the package, write in anything you like under "Remarks", and return it in a Business Reply Envelope. You'll be making five copies, so press hard!
We do wait fifteen days after the mailing date before we will issue a claim form in order to ensure that the item does not show up in the meantime, and we do require that you return the form before we will issue you a refund. This is for insurance purposes.
Grip, if you'll call me or email me at stewarth@heritagecoins.com, I can look further into why it would have taken five weeks to process your claim. It should not have taken that long.
Stewart Huckaby
mailto:stewarth@HA.com
------------------------------------------
Heritage Auctions
Heritage Auctions
2801 W. Airport Freeway
Dallas, Texas 75261
Phone: 1-800-US-COINS, x1355
Heritage Auctions
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."