Heritage moves to increase fees to 20%

synchr

Just got the email, if you haven't seen it here is the text:

"**Please note that for all Coin & Currency auctions closing after August 11th, 2017, the Buyer's Premium will be 20% (minimum $19). Please direct any inquiries to 214-409-1150 or Bid@HA.com.

This was not a decision that we came to lightly. Heritage is a major player on the world auction stage, and our BP rates will now be competitive with the rest of the world's key auctioneers.

The Buyer's Premium for auctions in other categories will remain unchanged.

Sincerely,

Heritage Client Services
3500 Maple Ave. 17th Floor
Dallas, TX 75219-3941
Bid@HA.com
1-800-872-6467**
"

SaorAlba

With Stacks Bowers upping theirs to a usurious 22% HA felt they had to compete.

dtreter

wow....i have to rethink selling at Stacks/Bowers or Heritage. That is a pretty hefty increase when I am used to 15%. Ebays 19% which I thought was high is now low.

air4mdc

.......and we wonder why young people arent interested in this hobby.

gnat

@air4mdc said:
.......and we wonder why young people arent interested in this hobby.

????

It is highly unlikely that this will result in young (or other) collectors paying more. However, it is very likely to cut into the net amount that consignors will receive.

Why young people are not interested in paper money collecting (I'm unsure if this any more true today than 30 years ago - not talking about the decline seen in the shiny metal disc hobby) has nothing to do with bidder fees at the large auction houses.

EastCoastCurrency

Just to be clear. Stacks previously had all but the main auctions at 20% and they have now moved all auctions to a 20% buyers premium.

air4mdc

@gnat said:

@air4mdc said:
.......and we wonder why young people arent interested in this hobby.

????

It is highly unlikely that this will result in young (or other) collectors paying more. However, it is very likely to cut into the net amount that consignors will receive.

Why young people are not interested in paper money collecting (I'm unsure if this any more true today than 30 years ago - not talking about the decline seen in the shiny metal disc hobby) has nothing to do with bidder fees at the large auction houses.

Hmmmm....... you lost me on that one.

gnat

To be more direct:

This has nothing to do with - will not affect - young collectors being interested in collecting paper money.

My other comment is that this will not affect Buyer's as much as Consignors.

air4mdc

@gnat said:
To be more direct:

This has nothing to do with - will not affect - young collectors being interested in collecting paper money.

My other comment is that this will not affect Buyer's as much as Consignors.

Thanks for reiterating, but I' m in disagreement with you on the young collectors.

daverickey

I believe the increase in auction fees, is due to gradually increasing 'seller power' these auction houses have. Ten years ago, you could buy paper money from so many sources, but now it seems more sellers are gravitating to a few auction houses, thus granting these auction houses the power to raise fees.

air4mdc

@daverickey said:
I believe the increase in auction fees, is due to gradually increasing 'seller power' these auction houses have. Ten years ago, you could buy paper money from so many sources, but now it seems more sellers are gravitating to a few auction houses, thus granting these auction houses the power to raise fees.

I' m in agreement.
I know this is off topic, but limited discretionary funds that young people have and with over priced and overgraded currency on the market I believe this will keep young people or newbies from venturing in the hobby. Especially if they want nice pieces in their collection.