Anyone know what Heritage's selling commissions are?

pcgs69

I'm thinking of consigning a coin to an upcoming auction but couldn't find any %s on their website. The only thing I found was this "•Call or e-mail for our low seller's commission rates"

Now I know what you're saying - "Just email them," but I figured since it's the weekend it'll be a few days until they respond.

Thanks for any input.

jdimmick

It depends on your agreement and what you are selling. I have herd anywhere from -5% to 107% + of hammer.

ranshdow

If you're small fry, expect to be offered 10% back of bid. Not worth it IMO, better to try your luck with a dealer on consignment.

indiananationals

if u have something killer normally 10% if u have run of the mill items 15% from my experience

coinbuf

I recently contacted them about this very issue, as mentioned it really has to do with the number of items and the value or rarity of the items. The more the value/bulk of items/or rarity of the consigment the better the rate gets. I was offered a rate on the phone but I also suspect that the rate is somewhat in play untill thay have the consignment in hand to inspect. hth

Coins911

Heritage will normally try to offer you 10% seller fee and then the buyer will pay 15% Buyers fee as well however I have recieved 101% of hammer before. Don't accept anything more than a 5% sellers fee and even that is a rip off

Wingsrule

PM sent

Elcontador

<< <i>Heritage will normally try to offer you 10% seller fee and then the buyer will pay 15% Buyers fee as well however I have recieved 101% of hammer before. Don't accept anything more than a 5% sellers fee and even that is a rip off >>



I recently received an offer through Heritage from another member on their site. Per above, I was quoted a price, less 10% for the Heritage commission. I passed. They used to give you coupons if a lot cost over a certain amount that you can sell a coin on the Heritage site for no fees. I don't know whether they do that any longer.

RYK

The "rack rate" is 15% buyer's commission and 5% seller's commission. For anyone who is active in coins, buying and selling, and/or well-connected, a better deal is usually available.

LVGT

Is there a general minimum you need to consign?

Coins911

Normally $5,000 is a minimum but Heritage doesn't care about collectors who consign less than $25K to $50K. Sad to say but they only care about people with millon dollar collections and dealers. Bowers is a little better...

RYK

<< <i>Normally $5,000 is a minimum but Heritage doesn't care about collectors who consign less than $25K to $50K. Sad to say but they only care about people with millon dollar collections and dealers. Bowers is a little better... >>



I strongly disagree with every word of the above.

Coins911

<< <i>

<< <i>Normally $5,000 is a minimum but Heritage doesn't care about collectors who consign less than $25K to $50K. Sad to say but they only care about people with millon dollar collections and dealers. Bowers is a little better... >>



I strongly disagree with every word of the above. >>



Try to consign 5 x $1000 coins then see if you agree

jhdfla

<< <i>Normally $5,000 is a minimum but Heritage doesn't care about collectors who consign less than $25K to $50K. Sad to say but they only care about people with millon dollar collections and dealers. Bowers is a little better... >>



That's just not true, I've consigned coins with a total value <10K with no reserve, and was charged 0% commission. I've had an excellent relationship with Heritage through the years, and I'm certainly not in the category of folks with the "millon [sic] dollar collections".

2ndCharter

Normally $5,000 is a minimum but Heritage doesn't care about collectors who consign less than $25K to $50K. Sad to say but they only care about people with millon dollar collections and dealers. Bowers is a little better...

Absolutely false - Like jhdfla, I've sent in small consignments over the years (like him, less than $10K) and the service (and commission rates)has been very fair.

GoldenEyeNumismatics

The standard rate for a first-time consignor with a small consignment (minimum $5000) is a 10% seller's fee and 15% buyer's premium. So the coin hammers for $100, Heritage collects $115 and pays the consignor $90.

RYK

<< <i>

<< <i>

<< <i>Normally $5,000 is a minimum but Heritage doesn't care about collectors who consign less than $25K to $50K. Sad to say but they only care about people with millon dollar collections and dealers. Bowers is a little better... >>



I strongly disagree with every word of the above. >>



Try to consign 5 x $1000 coins then see if you agree >>



I have done it and even fewer/less.

WTCG

<< <i>

<< <i>

<< <i>Normally $5,000 is a minimum but Heritage doesn't care about collectors who consign less than $25K to $50K. Sad to say but they only care about people with millon dollar collections and dealers. Bowers is a little better... >>



I strongly disagree with every word of the above. >>



Try to consign 5 x $1000 coins then see if you agree >>



I also disagree with the original statement. Even with a small consignment they usually treat people well.

I have consigned 10 x $500 coins to them before and I still got the best rate available.

As for seller rates, rates are negotiable with consideration to size and content of the consignment material.

Coinosaurus

100% hammer isn't hard to get from my experience. I'm sure the high-value consignors do a lot better. At a recent coin show I heard a well-known dealer trying to negotiate from 107 to 108 w/a Stack's rep. Actually "negotiate" is a kind word, if you heard the actual conversation it was more like "chisel."

roadrunner

Since Stacks Bowers is in heated competition they do tend to offer a better rate than Heritage for the same material. However, they don't have the active internet customer base and
internet bidding features that Heritage does either. One could argue that even paying a slightly higher commission one might do better at a Heritage auction. But it boils down to what kind of coins you have, what time of year the auction is, and where is it being held. Another factor is whether your auction leads, overlaps, or follows a major coin show. Sometimes going first when the money is still flowing is better than during prime time show hours when possibly half of the money available has already been spent. This past ANA show Heritage had the lead in auction and I think it worked well for them. A couple of times in the past they had an auction at the end of a major show into that Monday and it didn't work so well. You can't factor in just the rates when making a decision. A number of dealers routinely consign coins to major auctions so that it's possible to piggy back on their consignments and improve your rates.

To get 107% from any auction house you have to be a long standing dealer/major collector who routinely consigns....or fudgy the whale. Mere mortals seem to play in the 103-105% of hammer range. And you can usually get an extra 1% buy going no reserve or picking very conservative reserves. But if you can pick the right venue with the right coins at the right time such that your coins get some ferocious bidding.... then whether you get 100% or 102% or 104% is really not so critical.

roadrunner

COALPORTER

<< <i>Normally $5,000 is a minimum but Heritage doesn't care about collectors who consign less than $25K to $50K. Sad to say but they only care about people with millon dollar collections and dealers. Bowers is a little better...

Absolutely false - Like jhdfla, I've sent in small consignments over the years (like him, less than $10K) and the service (and commission rates)has been very fair. >>



If he said 5000, which is less than your 10000, then how is it absolutely false?

BTW, the 5000 is closer 5000 wholesale, not 5000 hammer price. This is based on my own quotes from Heritage.

dragon

I've only consigned coins to a major auction twice before and it was about $15K worth of stuff each time, and both times I was offered a much better deal at Bowers who offered me 0% and an interest free cash advance if I wanted one. Both times Heritage was at 5% - 7.5% only if I consigned with no reserves and regular rates on an advance if I wanted one. I was also very pleased with the hammer prices I received at the Bower's sales.

I was also recently interested in consigning several expensive watches from my collection to an upcoming Heritage Timepiece sale, but again I decided not to because I wasn't happy with the terms I was offered. And keep in mind they charge nearly a 20% buyers fee in those auctions.

2ndCharter

If he said 5000, which is less than your 10000, then how is it absolutely false?

Ok, if you want to get specific, I once sent them a consignment valued at less than $3,000 and there was no problem.

Granted, I was a repeat consignor by that time but I have never had an issue with them taking a "small" consignment on very favorable terms to me.

19Lyds

<< <i>

<< <i>Normally $5,000 is a minimum ... >>



I strongly disagree with every word of the above. >>

This is what I was quoted by Heritage as well which is why I do not bother to consign.

If repeat consignor's are not bound by this "minimum" then that tells me that perhaps at one time, they had a $5,000+ consignment. I do not know for sure but what I do know is that I was quoted a $5,000 minimum value before they would accept my consignment.

Folks can disagree all they want but this is a figure that multiple folks have actually been quoted.

Herb_T

The numbers quoted above are 10 years old now. Does anyone have recent numbers?

gumby1234

I recently asked @MFeld and he responded.
We have a $5000 minimum value for a consignment. For a typical consignment, we charge a seller’s commission of approximately 5% to 10%. If the coins were bought though one of our auctions we waive the seller’s commission. And depending upon the particulars and value of the consignment, the fee is negotiable
@Herb_T

DelawareDoons

@Herb_T said:
The numbers quoted above are 10 years old now. Does anyone have recent numbers?

Last time, and admittedly, the only time I talked to them, they said $5,000 minimum and offered me hammer only, so I couldn't get any of the BP they charge. The pair of coins were worth $3500 and $5000 each.

It was my first, and to date, the last time I considered consigning to them. 20% is far, far too much.

jmlanzaf

@gumby1234 said:
I recently asked @MFeld and he responded.
We have a $5000 minimum value for a consignment. For a typical consignment, we charge a seller’s commission of approximately 5% to 10%. If the coins were bought though one of our auctions we waive the seller’s commission. And depending upon the particulars and value of the consignment, the fee is negotiable
@Herb_T

I've always asked for and gotten zero. Although I only consign $2500 and up coins to them. A widow friend of mine was given negative 5% for a large consignment. It is quite variable.

BryceM

Negotiable, as with most business transactions.

Cuprinkor

Seller's commission rate = 10%.

I found this out when I received their payment for my one sale in their August ANA auction. The coin brought $10,000 (plus 20%, totaling $12,000 to the buyer) so I assumed I would be getting a check for $10,000. So I had to do a double take when the check was for $9,000.
I didn't think there was a seller's commission rate, but then it's been a few years since Scott Reiter was there ( I used to get 105% back in those days.)
Admittedly it's been several years since I consigned anything with HA.com.
Hmmm . . .let me see. . . .I guess Heritage realized $3000 from a $12,000 sale, working both sides of the transaction.

My bad for not being proactive and learning the facts beforehand.

Herb_T

Thanks everyone