Heritage Question for Sellers - Seller's Fees with Reserve?

MsMorrisine

does Heritage charge sellers a fee if an item fails to meet a reserve?

Goldbully

I hope not....no goods have been exchanged.
Sort of like, a lawyer only gets paid when his client is awarded damages.

blu62vette

It all depends on the terms of the consignment. There are times this does happen.

Author1

I assure you Heritage wants there money even if a coin does not sell

jdimmick

Yes, depending on the consignment agreement

Few years ago I had a coin consigned which didn't meet reserve, they charged me a 3% no sale fee on the reserve price . Cost me like 360 to get it back.

jim

bestday

if coin does not sell .....Heritage charges fee as if the coin had sold ..big consignors depends on their deal

TPRC

Yes, and I think it would be called a buy-back fee. I recently did a consignment with Stacks Bowers for a 5% seller's commission and a 10% buy-back. The buy-back seemed high, but I was not too concerned and the reserved item sole. Of course, it depends upon what you are selling and, of course, its value. Best to ask Heritage directly.

amwldcoin

Heritage is all over the board on this. If you consign enough they will allow a no fee reserve on a small percentage of your consignments. If you only have a few coins it isn't worth tainting your auction with a reserve....just buy it back yourself!

TomB

I've had buyback offers from as little as 0% to as much as 10% and believe that most folks are offered 10% of the declared reserve price.

joebb21

Everything is negotiable. You have all the power if your coins are valuable and worth auctioning.

If your coins are worth over $1000, then I believe Greatcollections will take it with a starting bid (ie reserve) at no cost.

I would go there.