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Heritage BP increasing to 22% 1/1/26 for US coins
Baylor8670
Posts: 292 ✭✭✭✭
When HA isn't busy sending emails and other literature talking about what a great year they're having, they find time to increase their BP.
"Important Buyer’s Premium Change Notice: Please note that for all US Coins auctions closing after January 1st, 2026, the Buyer's Premium is 22% (minimum $29)"
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This should be good for Great Collections.
Truthfully, I'm surprised it's not higher. I've been dealing with auctions that are anywhere from 17% to 25%.
I stopped buying from Heritage already due to the high costs, no problem for me.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
Watch and see
The fee is part of what you are willing to pay. Doesn't really matter in the end. It does take away from the seller, unless they are big enough to get a cut of the BP.
Completed All CAC approved Classic Head $5 set https://www.pcgs.com/setregistry/mysetregistry/album/344241
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
I have seen this posted before, but it's not really true. If the buyer wants it they will bid more and fight over it regardless of the fees, over time they are willing to pay more and more even if they think they are not. Like saying you won't buy a fancy coffee because the price went up and next week you are buying three a day just like before the price increases.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
It's a factor in my bidding calculations, but with fixed increments the extra 2% isn't going to make /that/ much of a difference. It's a good thing my sets are mostly complete already, and my purchasing in general has slowed down anyway.
Ah, okay, so no big deal for me -- I almost exclusively bid on Roman coins on HA now.
Good thing that I focus more on World rather than US these days.
What is GC now?
RIP .835 -- you served me well
Don't think for a minute that after a time, this will change as well. And I highly doubt it will be limited to HA.
Maybe not true for you but very true for me and many others. I set a price and bid to that. It does not matter if they charge 10%, 12.5% (both at GC) or 20% or 22%. Just comes off what the seller would earn.
Completed All CAC approved Classic Head $5 set https://www.pcgs.com/setregistry/mysetregistry/album/344241
CBH Set https://www.pcgs.com/setregistry/everyman-collections/everyman-half-dollars/everyman-capped-bust-half-dollars-1807-1839/album/345572
What is the straw that will break the camel's back?
My two biggest losses selling my Seated Quarter collection were Heritage purchases.
100% my fault, the only point being that they are the most expensive venue to buy from. I've never sold anything through them so I don't know if that translates to better outcomes for sellers or not. The answer is probably "depends".
I'm happy at 15% or 20. After that it seems not cost effective. That's just me
Don't forget that the BP is 0% on the BST Forum since you are cutting out the middleman.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Might drive some consignor business back to dealers who are often working on 10-20% margin for the best material.
Great, on top of the 10% (WA sales tax) increase this effectively means almost a 35% premium starting in Jan.
“Should” doesn’t mean “do”. Unfortunately perception can be reality and the optics matter.
I wonder if Stacks will follow suit? They did the last time. I think that the buyers’ fee rates are getting out of control. I will be spending more time on the Great Collections site.
A suggestion: Maybe only charge the new BP to buyers who receive paper catalogs? This is a high expense for them.
Actually, it's not just US coins. World coins is going up starting 2026 too.
I told Heritage years ago that I did not want paper catalogs, but they keep sending them, not all of them, but enough to be expensive. I’d be very happy if they would stop sending catalogs all together and not raise the buyers fee, but it doesn’t work that way. I’ve told them that 25% is too high for political items, which forces me to buy elsewhere. They don’t listen to their customers.
i can also forego all heritage catalogs and mailings
i won't sell with HA anymore
They send me catalogs all the time and I haven't bought anything in a couple of years. I've never used a catalog to buy anything anyway, they usually go straight in the trash.
Not totally shocked given the catalogs they produce and ship. They are works of art. Big $$$.
I always considered fees and shipping costs when I bid, regardless of the site.
MATH 101
Dave
It may be true for you and a few others but it's not true for everyone and it has nothing to do with ignorance either. How many times have you seen a member here post a newp and practically brag how buried they are but they "had to have it". That is not a dig at anyone but without a doubt there are people that will get into bidding wars because they must have it and the BP simply is not a concern. Granted this tends to be with really difficult to find material, but surely you can recall seeing posts like that for very common coins because of the color.
And if what you say is true and anyone with a brain cell is already backing out the BP now then what will another 2% matter anyway. If everyone is already doing it then this will not make any difference to the consignor since consignors have been losing all along. Which brings up an interesting question, if the consignors are and have been losing due to buyers backing out BP for years, why does anyone sell with Heritage? How many Heritage sellers do you know that are unhappy with the auction results because of buyers subtracting the BP when bidding?
Just out of curiosity how many top shelf coins or those with CAC beans are you winning with bids where you backed out the BP?
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
For consignors there is often a long wait for payment from the biggest auction companies. One benefit with their Signature auctions at the FUN show, etc. is that they have a strong following and are usually going to get higher prices than GC.
My state does not have a sales tax but HA started charging the local municipal sales tax (7%) a few years back. Municipal law was capped at $3,000 purchase, meaning that sales tax per purchase was capped at $210. ($3,000x.07=$210). HA informed me that if I wanted to make a $15,000 purchase, they would charge me 7% on the whole amount. A violation of local law (code). Needless to say, I haven't made any large purchase in that venue.
Stay warm up there in Alaska
Buyer premiums are never fun I would much rather bid on an auction without it. A lot easier to figure out my bid number. Especially when it is an odd percentage like 22%. Just my 2 cents.
Wes Brush Cataloguer and Buyer for DLRC.
10% if you pay via eCheck/ACH or wire. Plus a shipping charge. I think it is 12.5% if you pay with a CC but I'm not sure since I don't do that.
Not really looking for much these days but if I were, it might be a toner.
BP on eBay is 0%.
Just sayin'.
BP on eBay is 0%.
Maybe so, but in my specialized collecting area, all FleaBay ever has is low-end swill. The good stuff I want is always at Heritage (and sometimes at Stacks or GC).
Member ANA, SPMC, SCNA, FUN, CONECA
And do not forget that many sellers tack on an additional 10%-ish on their listings to cover their eBay selling fees...so you may not see a buyer's premium but it's there. At least that was what I did when I bought and sold stuff on eBay 10+ years ago. I have not searched eBay in 10+ years. There is so much junk to sort through. Have I missed a few things possibly? Sure, but my sanity is worth way more.
Not really looking for much these days but if I were, it might be a toner.
Pure greed. I sell through Great Collections.
Sounds like they're providing a useful service. Is that worth anything?
BTW- regarding your "FleaBay/low-end swill" comment... There are plenty of collectors who don't have lots of money to spend on their collections and make do with what little is available. No need to look down your nose at a venue that allows them to participate in the hobby as they are able. And to make my position on eBay clear, I will note that I have been selling there myself for 25+ years. Almost exclusively, it's been "low-end swill", with a gross sales total somewhere north of half a million dollars. Here's my most recent feedback: "Overall awesome!". For a $12 coin. But- "FleaBay".
Not sure of this is true, but they know their business and a rate increase was probably not done lightly. These are difficult times, seems like a lot of prices are going up.. Labor costs more.. They have a successful business model it seems. I suspect other will follow suit. I think if anything it will make a buyer look harder at a coin they want before bidding which is probably a good thing..
The court jester does not play, but gently pulls the strings…
What people seem to be saying is that HA appears to be trying to cover much more than their costs.
My eBay prices include my costs. Buyers are welcome to meet me locally to pick something up and I'll take even more than 10% off the eBay price but somehow, nobody ever takes me up on the offer.
I wonder why not.
Sayōnara heritage. They were my least favorite auction house by a large margin to begin with. I wonder if I should go on their website and delete my bank and CC info?
-
Your hobby is supposed to be your therapy, not the reason you need it.
So you are saying that you personally know every single bidder that does or has bid at Heritage, impressive.
Dealers are like any group of people and will fall into a bell curve. Some are very smart, some are not very smart, and most fall somewhere in the middle. Also, the simple law of averages dictates that yes some of them are ignoring the BP at least some of the time, as you said it's a choice and ignoring the BP is a valid choice.
Those can be hard to snare Nevada there's usually someone willing to pay $5 or $10 over because it's only $10. But that really isn't directly a BP issue.
Sure it's a BP issue, according to you your bid already has the BP calculated into it, yet you are not winning 100% of the auctions you bid on. That means either buyers (dealers) are willing to accept a lower margin than you are, they have decided to disregard the BP and bid higher than you, or collectors are willing to pay more/ignore the BP. Neither of us can know for sure which (lower margin or ignore the BP) those buyers have chosen which means that you cannot be 100% certain that other bidders are not ignoring the BP simply because you do.
The fees are high on ebay for sellers that don't have a store, you seem to conveniently forget that not everyone who sells on ebay has a store or is a power seller with discounted selling rates. Without a store the fees are what 13-15% which may be less than the cost to consign with Heritage (or not) but also includes all the potential headaches.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
We don't know the costs (which one would assume are going up). On the revenue side, they are doing well according to their press releases.
"DALLAS, Texas (June 14, 2025) — Heritage Auctions has once again redefined the auction landscape. The world’s largest collectibles auctioneer reported $962 million in total sales through June, marking the highest midyear total in its 49-year history, and outpacing last summer’s record-setting $924 million."
https://www.ha.com/heritage-auctions-press-releases-and-news/heritage-auctions-sets-new-record-962-million-in-midyear-sales.s?releaseId=5243
I don’t, I was just kidding. I have been seeing auction fees climbing for some time now. Here in the US and overseas. While there are a couple with low or moderate fees, the majority are over the top.
The problem with the couple that are reasonable, now you have to add on the tariff fees.
One of their larger expenses are their catalogues, assembling and shipping, even though
its “ in house “. Heritage prints, assembles and ships their own catalogues.
Perhaps 7-8 yrs ago, a StacksBowers employee told me that each major catalogue they ship out costs them $35. Certainly it is higher now .
I think it would financially behoove Heritage to survey their clientele to winnow out those preferring not to receive a mailed “ hard copy “ catalogue and rely on the online listings. My guess , based on what I read above, is 20%, 1 in 5, would pass on receiving Heritage’s massive “phone book” catalogues.
Not me though. I actually carefully peruse each catalogue to find those unusually placed rare
pieces which would be missed going thru an online listing. Plus I can lay aside a catalogue and continue the perusal at my convenience.