So I offered $19,965 for a Heritage Post auction buy and the owner did not take it?

seateddime

I am not too sure how those work but a coin that did not sell had a make an offer button which is like 5% less or so than the reserve. I made the offer an the seller ( or Heritage?) rejected it.

Seeing I have never had that happen before on a coin that did not sell does anyone have any idea how this process works?

Broadstruck

Heritage rejected it most likely.

RYK

Gutsy move. I have learned (the hard way) not to buy those sight-unseen.

STONE

Link to the coin?

Any coin for about $20k seems like a real eye-popper.

seateddime

link is gone, was a 1845 proof dime

COALPORTER

I think the post auction offers suck and are rediculus.
I tried to make an offer on a coin with a asking price of $6300
and when I made my offer, the computer said, "sorry, we won't even except a bid less than $6103", which was the original reserve with BP. I guess they will come down 10 bucks or something. Now, isn't ovious that no one was willing to buy the coin at reserve? The auction just finished and no one bought the coin, so who one earth is going to buy it 5 hours later for the same price? Maybe the market place is tell you that the price is too high ?

I don't get it either?

Connecticoin

<< <i>Gutsy move. I have learned (the hard way) not to buy those sight-unseen. >>



Yeah, I hope you looked at it in hand, or had someone do it for you.

roadrunner

I made an offer once on a coin I had seen go unsold several auctions earlier. I liked the coin and made an offer and it was accepted. I knew what they had paid for it months earlier, knew they upgraded it, and gave them a 10% profit. I liked the coin then and still do.

roadrunner

pennyannie

Call Heritage and ask for someone that can actually make a decision. I bet you could work it out. You just have to get past the employees that read everything off of a list and do not know there is a way out of the box. It has worked for me at Heritage and DLRC

MidLifeCrisis

<< <i>Gutsy move. I have learned (the hard way) not to buy those sight-unseen. >>


I agree...Having your offer rejected might really be a blessing in disguise.

coindeuce

Like pennyannie wrote - screw the computer response. Call Heritage and ask for a coin sales rep. I would go even as far as asking for someone like Leo Frese. I've been in the position before, and Heritage was able to negotiate a price with the consignor that was agreeable, and was below the post auction Buy It Now price. Heritage still got their 15% buyers fee, which is what they care about most.

lloydmincy

<<The auction just finished and no one bought the coin, so who one earth is going to buy it 5 hours later for the same price? Maybe the market place is tell you that the price is too high ?>>


COALPORTER:

I have had abut 4 coins that did not make reserve, and then were purchased at the "buy-it-now" yes, a few hours after the auction. It told me, someone out there wanted to see if any takers, then decided AFTERWARDS, that they DID want it.

ArizonaJack

<< <i>Call Heritage and ask for someone that can actually make a decision. I bet you could work it out. You just have to get past the employees that read everything off of a list and do not know there is a way out of the box. It has worked for me at Heritage and DLRC >>



Good advise, and don;t forget to ask about the return priveledge. there is a reason it did not sell.

garsmith

<< So I offered $19,965 for a Heritage Post auction buy and the owner did not take it? >>

So make another offer $19,965.01 this time

ColonialCoinUnion

<< <i>Heritage rejected it most likely. >>



I disagree.

We consigned a coin on behalf of a customer some time ago. It did not meet his reserve, and after the sale was listed on the Heritage site as a Post-Auction Buy at the reserve + 15% buyer's fee.

About 3 days later Hertiage contacted us with an offer that was, if memory serves, about 10% less than that and asked if we wanted to take it. I contacted the owner, he agreed and we told Heritage we accept the offer.

Based on that one experience, I believe Heritage will pass any reasonable offer on to the consignor.

illini420

<< <i>

<< <i>Call Heritage and ask for someone that can actually make a decision. I bet you could work it out. You just have to get past the employees that read everything off of a list and do not know there is a way out of the box. It has worked for me at Heritage and DLRC >>



Good advise, and don;t forget to ask about the return priveledge. there is a reason it did not sell. >>



I strongly disagree with a broad statement that there is a reason (other than the starting price alone) the coins still available after the auction didn't sell. Sure, many of the coins left over are dogs with problems, sometimes big problems. However, I looked at a few lots in person (that are still available now) which were decent coins I would love to own, but just didn't bid as I felt the starting price (reserve price) was just too strong. An increment or two or three lower and they would definitely be mine.

In going back to look at them now, I too have tried to make an offer, but the range provided for an online offer is pretty much a waste of time as mentioned in prior posts. Unfortunately, the buyer is prohibited from entering an amount below their narrow range. At least they should communicate the interest to the seller and let them make the decision. I would want that if I was the seller for sure. When at the show, Heritage has a print out of lots that are still available on which they allow you to handwrite offers that they will communicate to sellers. I believe the only restriction on the amounts of such offers is that the offer has to be a certain percentage of starting price on coins less than $1000??? Not sure though as I didn't fill out the sheet while there.

I too plan on calling a rep at Heritage early this week to see if they will communicate my lower, but fair offers on these strongly priced decent coins. Will post Heritage's response and I hope others do as well.