Heritage best ofers

racecap97

I got an email this morning that I've received an offer on a note that I purchased from Heritage about 4yrs ago. I'm not sure if I want to sell the note as it is one of my favorites and its a pretty tough Hawaii $1 to come by. But i'm intrigued and was wondering if anyone else here has sold a note through this heritage option and how it worked out. It says I've got 72hrs to accept or decline.

2ndCharter

The same thing happened to me a little over a year ago. I had bought a note in 2009 and, while I liked it, the offer was just too good to turn down. I shipped the note back to Heritage and got a check a couple of weeks later.

SaorAlba

Not and hot is my experience. Got an email about a Mexican note with a great offer, then the person failed to pay. Another time I sold another foreign note and got a cheque a couple of weeks later.

racecap97

Was it a pretty simple transaction besides the person that failed to pay? I've never sold anything through an auction house or anything like that. I've purchased but not sold.

larry510

I have made many offers on HA notes that have previous sold in the past. Not a single one has been accepted. I did get one counter offer but it was too high and I declined it. I think many of those notes that are sold on HA change hands quickly and the original owners that bought them have since sold them and no longer have the note.

techwriter

tried a couple of times and just gave up; you're right counter-offers were just too much considering original purchase.

TigerTrader

I recently sold one for 2x what I paid for it 2 years ago... All I did was send it in to them and they confirmed they received it. Then the sale was confirmed when they received payment. Now I am waiting on the check... Supposed to be within 30 days.

cpolen

I have used the feature several times in the past few years but only made one actual purchase. The price was good for both of us, the seller purchased the note many years ago so he made a profit and I got the note at the current market price. I had another offer excepted but the seller never sent the note to HA so after waiting 30+ days on the note to be delivered HA contacted the seller who indicated they "forgot" to send the note. I was given the choice of continuing with the purchase or cancelling the purchase, I cancelled the purchase. That was 2+ years ago, since then the price for that note has dropped substantially and the note is still for sale on HA's site. I have made several other offers but never got responses from the sellers. At this time none of my notes purchased through HA are for sale. So I have had mixed success.

Berny

I have made over a dozen offers and received some very high counter offers. Subsequently one note appeared in another auction and I obtained it close to the original Heritage auction price. I also obtained a note through this program without any problems.



I have received over a dozen offers on my notes, mainly ones that are unique or near unique. Since they were in my collecting area I declined these even after several higher offers.



One lot had about 25 notes in it. I received a big offer for it but I accused you guys of taunting me. It did happen to be from a forum member. Since I did not need all of the notes, we came to a very agreeable solution with me keeping the ones I really wanted.



I usually obtain and keep notes of interest for my Niagara collection. This includes notes for exhibits, talks, and papers. Now it is much easier to obtain high resolution images and thus I do not need to obtain many of these notes for talks and papers. This is also why I keep accepting offers since there is nothing to loose in rejecting an offer. Of course, the exhibits require the actual notes!



I notice that many notes appear with "Make an offer" immediately after an auction. I suspect that many of these were bought by dealers.

amrys

I notice that many notes appear with "Make an offer" immediately after an auction. I suspect that many of these were bought by dealers.

That's my guess too. And yes, I think too that most notes were resold quickly after the auctions.

But not all notes: When I looked around for $1000 LGS notes last year Heritage Auction was a real source for me. I found a 2211-C PMG 64 EPQ note there that I desperately wanted with the MAKE OFFER TO OWNER possibility.

It was my third chance to buy that note (an early offer was pulled back and later I failed to win that note in the Heritage Platinum Night 2014) and so I was very glad that this MOTO program exists.

My first offer (although more than 20% higher than the price which was paid in the auction a year ago) was obviously too low and the counter offer was really shocking high. So I've stopped the negotiation at this point, but only a few weeks later I came back to that counter offer and accepted it. I was lucky that the owner still wanted to sell the note and so I paid a price that was surely too high, but with two chances gone and this third chance as probably last chance I couldn't resist.

Now, a few month later, I'm still happy, of course still not about the price but about the note, and don't regret this purchase.

Only two month later I found then another note at HA I needed that time and it was possible to get that note with the MAKE OFFER TO OWNER program too. Finally I didn't buy that note, because I got a better one, but once again HA has offered a good chance to expand my sets.

So I think it's a good idea and I will check these Heritage offers regularly.

amrys

Maybe I should add that it took about two three to conclude the deal at HA. About one week for the offer and counter offer, about a second week (after I accepted the price) for Heritage to get the note from the owner and finally a few days to receive the note after I've paid it.

The only problem with MOTO - from my point of view - is that Heritage doesn't allow a return. When they have checked the note and they think that's all ok it's final. For the case that the new owner isn't satisfied with all aspects of the note he has a problem. That should be taken in all considerations.

KT5Silver

Much like Larry I have made NUMEROUS offers with little success. Many of the offers were countered with a number around double the original winning bid. I like the feature and I look forward to better results.

flash53

No returns with third party graded notes!

amrys

Originally posted by: flash53
No returns with third party graded notes!

You're right, I've forgotten to say it clearly. I simply never buy raw notes.

Alex1176

If I'm going to sell something expensive in the future I will do it with an Auction house. Ebay is out of the question because of the SNAD scam. Cannot afford to loose thousands dollars.
I sold 7000$ worth note already with Manifest and everything was smooth and professional.

Alex1176

Originally posted by: flash53
No returns with third party graded notes!

I saw it several times. What is the reason for this limitation?

golden

About a year ago I offered to purchase an item at the full list price. I never received a reply. The item is still listed at the same price.

delistamps

Several years ago I purchased a coin that I later sold for a loss. Six months later I received an offer to purchase it for megabucks. That was my only experience.

Generally speaking, I think the minimum offer is at too large a premium over the previous sales price. But I guess that's how they prevent prospective buyers from pestering owners with lowball bids.

TheRock

I have sold at least 6-7 notes this exact way. Never had a problem and the payment always arrives in 2-4 weeks. I don't think it matters if Heritage is paid from their customer as when you ship the notes, it falls all on them them to collect from their customer.



Either way, it has always been very profitable. Usually 30-50% above what I originally bought the note for. I have also had them offer me a few deals on EBAY notes that I have listed in which case the price offered was at least 50-75% above my selling price with the BIN. Never understood this one as they could just BIN and get it cheaper but that way has never happened. Oh well, more profit for me I guess.



All in all, it's a rock solid deal if you are willing to par5t with the note in question. If not, then don't even bother.

Berny

Originally posted by: Berny

... I received a big offer for it but I accused you guys of taunting me...

OK guys are you at it again? About an hour after I posted this, I get another MAKE OFFER on a near unique note.



This time the offer would net me 17% after 13 years. And that is not counting taxes. The CPI has increased 29% since then. What do you think?

larry510

There are a lot fewer 'make offer to owner' options on HA now than there was a year ago. Many of them have been removed.

SmallSizedGuy

I have never made any offers, and the few I have received were so ridiculously low that I did not reply to them.

gconover

I have had one sale go through and had two offers which I accepted and then the buyers backed out. Not sure why the buyer bothered making the offer if they didn't want the note

Berny

Originally posted by: larry510

There are a lot fewer 'make offer to owner' options on HA now than there was a year ago. Many of them have been removed.

If you do not reply to the offers, your notes will be removed from receiving offers. A reply of non-acceptance will not change your status.

CollectingFanatic

You have to change your settings on Heritage otherwise they will automatically show "taking offers" on the items you just purchased. I bought a few notes several years ago and had to change my settings so as to not take offers!
1) go to ha.com website
2) click on "My Collection"
3) a drop down will appear....select currency
4) login to your account
5) the list of all of your currency purchases will appear
6) click on the box to the left of the note or notes you do not want to take offers on.
7) click on the select action box drop down
8) select "not taking offers" , then hit go
9) this will change the "make offer to owner status" on the right to "not taking offers'

KT5Silver

Jim H.,

When you say ridiculously low prices offered, it was my understanding that all minimum offers would be your winning bid plus a percentage +17.5% for Heritage. Is this incorrect or did you simply get a really good deal or were these notes you purchased in the past that have went up significantly?

SmallSizedGuy

Kraig,



One in particular was a note I bought several years ago. Since then the sequential notes before and after mine were sold in PMG-66 holders at Heritage at a significantly more price than mine. My note would also grade 66. The offer I received was not much over what I paid for mine and much less than what the other two sold for.

Berny

Originally posted by: SmallSizedGuy

Kraig,



One in particular was a note I bought several years ago. Since then the sequential notes before and after mine were sold in PMG-66 holders at Heritage at a significantly more price than mine. My note would also grade 66. The offer I received was not much over what I paid for mine and much less than what the other two sold for.

The value of plastic?

DepressionscripGuy

Everything I want never has a best offer button on it....

TigerTrader

Originally posted by: KT5Silver it was my understanding that all minimum offers would be your winning bid plus a percentage +17.5% for Heritage.

I think that HA just takes a flat 10% fee on the offers that are accepted with a $40 minimum commission for HA. If you made an offer and it was accepted and then tried to sell the note through HA make an offer system, then it would be 17.5%



If the lots do not sell for $350 or so they don't get an automatic accepting best offer. If they do sell for that or more they do automatically accept best offers, unless you have your account set up to not automatically accept best offers...

racecap97

This has been a great thread for information on this topic. Thanks for all the replies. I've been thinking about whether or not i'd like to sell the note the last 2 days and i've decided that it will take more than the offer i've recieved to convince me to let it go. I don't need the money and it would be a very difficult note to replace I think. The note i'm referring too is a $1 Hawaii WWII FC block note graded superb GEM 67 by PCGS. One of 2 that sold the same day at the same auction for close to the same amount if I remember correctly. I am not aware of any others in this grade. There might be more out there but its a tough block in this grade none the less and i'd have a pretty hard time finding another one I believe.

larry510

Originally posted by: DepressionscripGuy

Everything I want never has a best offer button on it....

True that!

amrys

Originally posted by: larry510

Originally posted by: DepressionscripGuy
Everything I want never has a best offer button on it....

True that!

Not always but very often that's true indeed...

tomtomtomtom

Originally posted by: larry510
There are a lot fewer 'make offer to owner' options on HA now than there was a year ago. Many of them have been removed.

I have only sold one fractional on "make offer" and only sold one that way. Both transactions went smoothly. ..and once offered and was counter offered.

I did notice that when a counter offer was made and not accepted, Heritage would then list it as a "buy it now"....not sure if they still do.

I did a search and found that there are over 1200 fractional notes with "make offers" active

Berny

Originally posted by: tomtomtomtom



...I did notice that when a counter offer was made and not accepted, Heritage would then list it as a "buy it now"....not sure if they still do...

Yes, if you as the seller counteroffer, it will be listed as a BIN and anyone can buy it. This just happened to me yesterday. If your counteroffer only applies to your present interaction, you need to change it for that lot.

TigerTrader