Heritage Return Policy for Signature Sales - OUCH !
CarsonCityGold
Posts: 1,856 ✭
Let me start by saying that not knowing the return policy in regards to Signature Sales is no ones fault but MINE ! I had never read Heritage's return policy before today. I've bought around 10K to 15K worth of coins from Heritage over the last couple of years and never wanted to return a coin before. I received a coin from their Long Beach Signature Sale today and it just wasn't up to par ($1800 coin). I clicked on their return policy and was shocked to read: "Return Policy:
Signature Sales: The auction is not on approval. No certified material may be returned because of possible differences of opinion with respect to the grade offered by any third-party organization, dealer, or service. There are absolutely no exceptions to this policy."
Yeah, I'm probably whining, but I just wanted to make sure others are aware of what I learned the hard way today.
Signature Sales: The auction is not on approval. No certified material may be returned because of possible differences of opinion with respect to the grade offered by any third-party organization, dealer, or service. There are absolutely no exceptions to this policy."
Yeah, I'm probably whining, but I just wanted to make sure others are aware of what I learned the hard way today.
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good luck
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WORK HARDER!!!!
Millions on WELFARE depend on you!
But I'm positive I have read that some people have been successful returning coins to them when the coin was materially misdescribed.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
As you have a track record with them and have never returned a coin before, I'd call customer service and go up the "food chain" until you reach someone who may be able to help you. If it is clear that this return is a first time event, they may be willing to work with you; ie., maybe a 5% restocking fee or maybe a professional courtesy. As someone else said, there are many weird people in numismatics, and perhaps they have this policy to scare away people who are pains in the a@@ to deal with in the first place.
I am a CPA and will tell you that even the IRS often cuts my clients some slack re a first time screw up.
"Seu cabra da peste,
"Sou Mangueira......."
<< <i>Why do they even provide a link to the "return policy"? All they would have to do is say "No returns - all sales final." Don't need a link for that.
But I'm positive I have read that some people have been successful returning coins to them when the coin was materially misdescribed. >>
Materially misdescribed yes then possibly you can. The return policy specificly says you can't return it be cause of a difference of opinion as to the GRADE of the coin.
Why a link? So people can read the policy. A statement of "No returns - all sales final" doesn't cut it because there are times when there can be returns.
The other one, which I prefer, says that if you've viewed the lots & if it's slabbed, it's yours. This makes sense to me, because you've already looked at the coin. Here, provisions for returns are made if you did not physically view the lot(s).
"Seu cabra da peste,
"Sou Mangueira......."
There policy reads like an iron clad battleship. But if it's the first time, take a shot, you might be surprised. They do want to retain your business.
roadrunner
If I can't attend the auction preview in person, I (1) find someone I know (that what they are doing) look at the lot(s) for me, or (2) call the auction house and have someone (hopefully that knows what they are doing
i think if you are going to BID IN AN AUCTION you had better PROTECT YOURSELF
by either looking at the coin sight seen in person
or having someone you trust look at it for you
IF not
DO NOT BID
or if you do bid let the buyer beware and take your chances/lumps
michael
<< <i>The other one, which I prefer, says that if you've viewed the lots & if it's slabbed, it's yours. >>
If you have viewed the lots they are yours whether it is slabbed or not. But if you haven't viewed the auction and you buy a slabbed coin Heritage is saying that "If you don't agree with the GRADE, that is not grounds for returning it. The GRADE was determined by XYZ grading service so take it up with them."
But the real truth is just what they say, "An auction sale IS NOT an approval sale." You buy it it is yours. They really SHOULD change their return policy to a flat statement of "No returns except for reasons of authenticity." and apply it to both slabbed and raw coins.
About six months ago I returned a signature lot to Heritage. They did accept it back, but charged a restocking fee. My feeling was that the coin was absolutely misrepresented in the auction description. I think they understand that there is no way that all bidders can view the lot before the sale. If they want to continue to encourage internet bidding this will simply be an issue that they have to deal with from time to time. The fact that they can claim "over 100,000 registered potential bidders" to drum up consignments implies that they see the value of online bidding.
I think Heritage is a good company and they will work with you to resolve the matter.
As an aside, if they improved their imaging some of these situations would be avoided.
BUT....
It may depend who you are, and how much business have you done with them?? I have a story of retracting a winning bid (LARGE) from Heritage. Not sure I want to thread the story though, but it was NOT about the RATING of the coin, but whether it was a FULL HEAD or not.... I thought I was stuck with it because I was still giving my opinion AGAINST the rating agency's slab.
There, I gave a little clue on WHAT kind of coin it was. (smile)... Maybe fight a bit, and you can pull it off. But I dont know why they would or should. They should NOT of for me, but I fought a bit.
If I had it my way, stupidity would be painful!