Re-selling a coin purchased at Heritage Auctions
BigE
Posts: 6,949 ✭✭✭
Say just as an example, you purchased a coin 10 years ago from Heritage Auctions, its a beautiful early commem with no problems at all and booming luster, a coin that would appeal to anyone and around 500.00 in price, we'll say just for fun. Would there be any more beneficial avenue to sell it thru, out of the many available, other than to have Heritage re-sell it for you due to no sellers fee since you purchased it from them? The buyer still pays 15% fees which in actuality comes out of your profit. On the other hand, Heritage does an excellent job.
I am thinking that going back thru Heritage cant be beat because of their no-fee policy on coins purchased thru them. Agree or disagree, thanks-----------BigE
I am thinking that going back thru Heritage cant be beat because of their no-fee policy on coins purchased thru them. Agree or disagree, thanks-----------BigE
I'm glad I am a Tree
0
Comments
<< <i> >>
Yes!
No?
Umm....ok...
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
The problem with your question is that some coins fetch more money on Heritage, while others fetch more on ebay and others fetch more at teletrade etc. For example:
An 1889-cc Morgan ANACS MS60 just sold for $8,951.00 on ebay while another ANACS MS60 just sold for $8,337.50 on Heritage BUT
An 1889-cc Morgan PCGS AU58 just sold for $8,000.01 on ebay while another PCGS AU58 just sold for $14,950.00 on Heritage.
If you're not totaly confused by that, than you're not trying hard enough. LOL
<< <i>Try the BST first. >>
<< <i>Sorry Bochi, posted too early and rushed back to finish lol-----------------BigE >>
I think I would look and see how similar items have sold recently. Heritage will have, imho, more of a specific set of eyes looking at things, particularly if in an auction around that type of material being promoted.
Ebay has a ton more eyes, but are they looking for your specific item?
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
apart from the others in the same grade (ie higher end and stickered) then maybe take a chance. But as a rule I wouldn't do it. Note too that most auction houses will give
a deal of at least a 0% sellers fee on a smaller consignment. Obviously not for a single $500 coin. Just saying that 0% is nothing special. For generic coins like choice gem
commems, common gold, Morgans, etc. one can probably get the same amount or more via private sale or directly from a dealer.
The reason an Au58 89-cc Morgan fetches $15K at Heritage is either because it's an easy upgrade to MS61, the most pq 58 imagineable, stickered to boot, etc. It doesn't bring
nearly 2X more than those AU58's solely because of the venue. I don't buy that. If I had a "speical" AU58 89-cc I too would put it in a special venue. If it were no different than
the majority of other 58's it probably wouldn't matter where it was sold, it would still bring about $8K.
roadrunner
Exit bunker, enter Matrix. LOL
<< <i>The "No Sellers Fee" is bogus. There is no sellers fee other than the 15% they keep. >>
You'd be surprised at how many other people think otherwise. I participated in a knock-out drag-down thread on a collector car blog where the majority of people
felt that buyer's pay the buyer's fee...I mean literally that it's paid by the buyer. They ran me off the thread as if I were telling them that Robert E. Lee was buried in
Grant's tomb....lol. I couldn't convince them that the moon wasn't made of green cheese. I even had a car dealer post his auction receipt where he paid a 3% fee
on top of his bid (ie called a buyer's fee) and swore up and down it came out of the seller's pocket, not his. And this after acknowledging that he never adjusts his bids for
any fees. He just keeps his hand in the air until he wins the car he's after...lol. So my 2 cents is that in the collector car field, 65-95% of participants believe the buyer's
pay the buyer's fee. If you go on line and check the terms and conditions of any auction house in any field, they are very careful in their wording of the buyer's fee.
They will never state anything but the "fact" that it comes out of the buyer's side of the equation. We in the coin field somehow have figured this all light years before
other collectible fields. I went so far as to google "who pays buyers fees" and out of about 50 links, only 2 of them supported the idea that seller's pay all the fees. Most odd.
To the world at large....buyer's do pay the buyer's fee. And they really do if you don't back off your bids....lol.
In the end the auction cares not who pays the buyer's and sellers's fees....as long as they get them both.
roadrunner
Chumley, will pm you soon
Roadrunner, great info, as usual
Crypto, ""pretty sure you still need to meet a minimum consignment level and I think it is $5K. You would need a lot on Comm to hit that. "" Early commems., not George Washington commems
Bestclsr, ""what kind of coins"", its in the OP!
Looking for Top Pop Mercury Dime Varieties & High Grade Mercury Dime Toners.
<< <i>Say just as an example, you purchased a coin 10 years ago from Heritage Auctions, its a beautiful early commem with no problems at all and booming luster, a coin that would appeal to anyone and around 500.00 in price, we'll say just for fun. Would there be any more beneficial avenue to sell it thru, out of the many available, other than to have Heritage re-sell it for you due to no sellers fee since you purchased it from them? The buyer still pays 15% fees which in actuality comes out of your profit. On the other hand, Heritage does an excellent job.
I am thinking that going back thru Heritage cant be beat because of their no-fee policy on coins purchased thru them. Agree or disagree, thanks-----------BigE >>
In 2008, I bid on a Half Cent and like a schmuck I thought I could return it because I was bidding on the Internet (it was a Signature Auction). Lesson: READ EVERYTHING BEFORE DOING ANYTHING!
When I got the coin, it was not as nice as the one I had, so I gave it back to them at the ANA, they put it in the auction, and I ended up making $200.00.
Hence, it worked for me.