Heritage "Make Offer to Owner" items

mozin · February 18, 2010 2:11PM

This looks like not such a great deal for the buyer. Every coin I checked starts the lowest offer to the owner at 120% of what the coin already sold for in a Heritage auction. Sounds like adding the 5% seller's fee and the 15% buyer's fee to the minimum acceptable offer to the owner. Count me out of this Heritage program.

Broadstruck · February 18, 2010 2:21PM

I've also made multiple offers and it's as much fun waiting 72 hours to be rejected as

PQType · February 18, 2010 2:22PM

no luck on a number of offers here either.

speety · February 18, 2010 2:25PM

I have missed 100% of the shots that I have not taken... Sometimes not taking any shots sometimes just saves anger and energy lol

It's more fun then beating the dead horse lol

Broadstruck · February 18, 2010 2:30PM

<< I have missed 100% of the shots that I have not taken... Sometimes not taking any shots sometimes just saves anger and energy lol

It's more fun then beating the dead horse lol >>

Isn't it past your

speety · February 18, 2010 2:33PM

<< 

<< I have missed 100% of the shots that I have not taken... Sometimes not taking any shots sometimes just saves anger and energy lol

It's more fun then beating the dead horse lol >>

Isn't it past your

>>

It may have been a loooooong time ago for you (

) but don't you remember what Thursdays were like on campus?

Well for yours truly it consists of cramming and homework until about 2am, with forum breaks on the hour (and usually more often than that...

). Yeah, no thirsty thursday here...

DennisH · February 18, 2010 2:56PM

I've only made a handful of offers, but all have been declined. Seems like a pointless program to me.

sinin1 · February 18, 2010 3:14PM

you guys are going about it wrong

you need to make offers on the coins you have already boughten from them
and still have in your possession,

then you could decide what to offer and what to accept

Lewy · February 18, 2010 10:03PM

But then, if you decide to accept your own offer, you would have to pay both the buyer's and seller's fees.

While I do like the strategy proposed by sinin1, I would suggest refusing all offers made by yourself.

notwilight · February 18, 2010 11:08PM

I keep opening these threads to see if anyone has ever been successful...-Jerry

kimber45ACP · February 18, 2010 11:13PM

I did quite well as a buyer - picked up an 1908 no motto saint for below book and now it is listed in the price guide for twice what I paid.
It is the only one I ever bought on an after auction buy it now. It is only a 64 tough.

Lewy · February 18, 2010 11:19PM

I have to wonder if the current owner is even aware that the coin is being offered up, or could this be just wishful matchmaking on part of the auction house?

jmcu12 · February 18, 2010 11:23PM

it is win-win for Heritage. While we find it frustrating, at the very least, they gain all the way around - so, why not offer the service??

ProofCents · February 18, 2010 11:28PM

I bet i've made 20-30 offers and have never heard back not a useful feature

speety · February 19, 2010 12:09AM

<< I did quite well as a buyer - picked up an 1908 no motto saint for below book and now it is listed in the price guide for twice what I paid.
It is the only one I ever bought on an after auction buy it now. It is only a 64 tough. >>

The OP isn't talking about the unsold items listed with the buy-it-nows (which you are talking about i think?), but rather the "make an offer" which appears in the heritage past auction archives.

chucknra · February 19, 2010 12:11AM

No success yet but still trying. I believe the sellers are trying to recoup all the fees.

coinguy1 · February 19, 2010 12:15AM

<< I did quite well as a buyer - picked up an 1908 no motto saint for below book and now it is listed in the price guide for twice what I paid.
It is the only one I ever bought on an after auction buy it now. It is only a 64 tough.
>>

Curiously, what did you pay for it and when? If it's worth considerably more now, that's almost certainly because of the increase in the price of gold and generic gold coins, not because it was a great deal at the time of purchase.

RYK · February 19, 2010 12:16AM

I do not bother with it.

ziggy29 · February 19, 2010 12:22AM

It's a lot like the "Best Offer" thing on eBay. The asking prices are often obscene, and no "offer" is accepted unless it's still at least on the high end of retail.

johnny9434 · February 19, 2010 1:38AM

i always had a hard time getting stuff off heritage with bids inline with what prices are supposed to be. never tried the buy it now area. im glad i never did from what im seeing here

best wishes all

Classof67 · February 19, 2010 1:59AM

I have received several offers on items I own, but have turned them all down.

Walkerguy21D · February 19, 2010 2:59AM

I saw a coin I had bought when looking at the archives, that had posted Make Offer to Current Owner.....the coin is in my set and is NFS.....I'm guessing that's the case with most of these. I think the program and 'hit rate' for potential buyers would be higher if the owners were actually interested in selling the coins, rather than Heritage assuming 'everything is for sale, at a price'.

coinguy1 · February 19, 2010 3:09AM

My understanding is that the default setting is that offers may be made for any and all coins. It is up to the owners to change the settings. That said, I think many owners aren't even aware of this.

LoveMyLiberty · February 19, 2010 3:37AM

I was surprised one morning to see a "Make an Offer" in my e-mail. It was for a Capped Bust Quarter
that is not too easy to find. It was in PCGS AU-55 and the offer was for nearly twice what I paid for it.
Heritage would get a 10% commision.
My option was to "accept", "reject", or "make a counter offer", within a 72 hour period . As this coin
doesn't come around very often I rejected the offer.

Heritage makes this statement in the e-mail:
Make Offer to Owner - Beta: Although fully functional and all transactions are binding, this new feature is still in development. Your feedback is valuable in helping us improve the product, so please send comments to Webmaster@HA.com.

Further explanation includes the following:

How do I opt-out of offers, or what if I don’t own this?
You can disable offers globally or individually for any item in your MyCollection that was sold by Heritage at auction.

What is this?
Heritage clients now have the opportunity to make an anonymous offer to the owner of items purchase at auction from Heritage, through our Auction Results Archives. Heritage manages the transaction, maintaining privacy for both parties. Acceptance of an offer represents agreement with the terms and conditions of sale, including Heritage’s commission. This service is free to the buyer (no buyer’s premium), includes a 7 day return policy, protects the identity of both parties, and allows offers and counter-offers. You will receive payment for items sold within 30 days of Heritage’s receipt of the item.

Personally, I don't mind the offer being presented. It allows more options to collectors. If I wish to avoid these offers
it's a simple matter to change my settings. However, should some avid collector wish to squander their inheritance on
one of my coins I may just go for it!

yellowjacket · February 19, 2010 7:12AM

I received an unsolicited strong offer on a 1925-S cent 64RB. I declined the offer; however, it was interesting to see what someone was willing to pay for one of my coins.

Again, I wasn't aware the coin was up for an offer.
Garrow

stinkinlincoln · February 19, 2010 7:25AM

I did this service once, and had super luck in doing so.

The coin was an early matte proof Lincoln, lower Pr grade, nothing fancy (63), but I put in a lower offer than I thought would get it. And I got it for my price.

Got the coin in hand, was a clear undergraded piece, by 2 points (65). When I sold it, still kicking myself, I got 65 money for it.

Not saying this will be everyones luck, but from the limited experience I had, it was a win win.

(The coin was listed for awhile to IIRC, and my bid was way under sheet)

leothelyon · February 19, 2010 8:02AM

I was amazed when 205 of the 206 Jefferson nickels sold during the Long Beach auctions. When has that ever happened anywhere? Me thinks many of those coins didn't sell and they're still open for bids or make an offer. So far, I've only been able to track about a dozon of those coins, those added to registry sets this past week and a half. So something does seem rotten in Denmark, IMO.

Leo

Billet7 · February 19, 2010 8:15AM

<< I was surprised one morning to see a "Make an Offer" in my e-mail. It was for a Capped Bust Quarter
that is not too easy to find. It was in PCGS AU-55 and the offer was for nearly twice what I paid for it.
Heritage would get a 10% commision.
My option was to "accept", "reject", or "make a counter offer", within a 72 hour period . As this coin
doesn't come around very often I rejected the offer.

Heritage makes this statement in the e-mail:
Make Offer to Owner - Beta: Although fully functional and all transactions are binding, this new feature is still in development. Your feedback is valuable in helping us improve the product, so please send comments to Webmaster@HA.com.

Further explanation includes the following:

How do I opt-out of offers, or what if I don’t own this?
You can disable offers globally or individually for any item in your MyCollection that was sold by Heritage at auction.

What is this?
Heritage clients now have the opportunity to make an anonymous offer to the owner of items purchase at auction from Heritage, through our Auction Results Archives. Heritage manages the transaction, maintaining privacy for both parties. Acceptance of an offer represents agreement with the terms and conditions of sale, including Heritage’s commission. This service is free to the buyer (no buyer’s premium), includes a 7 day return policy, protects the identity of both parties, and allows offers and counter-offers. You will receive payment for items sold within 30 days of Heritage’s receipt of the item.

Personally, I don't mind the offer being presented. It allows more options to collectors. If I wish to avoid these offers
it's a simple matter to change my settings. However, should some avid collector wish to squander their inheritance on
one of my coins I may just go for it!

>>

I have a feeling that it was my offer on your AU55 capped bust quarter. 1815? If it is, I regret not buying that coin the first time it came up for auction in a rattler...then someone cracked it to see if it would upgrade. The day I saw it relisted on Heritage in a new blue holder, a small part of me died inside. I still think about that coin a lot, I wish I would have had the stones to buy it when I saw it in the rattler, it even went for a reasonable price. (Regret, regret, regret.)

LoveMyLiberty · February 19, 2010 8:19AM

It seem there may be some confusion about this thread. Heritage offers a number of avenues to
purchase coins. The ones using a "Make an offer" option are:

* looking through their "permanent auction archives" they list certain coins that Heritage has in their
inventory & allows viewers to "Make an Offer" for the item over a designated time period, sort of
like a silent auction. The bid has to be above a set amount & if it is high enough, Heritage will accept it.
Heritage gets the payment & charges a fee.

* They also have what's called a "VIRTUAL BOURSE" which are coins listed by dealers using the Heritage
site for viewers to make an offer on the dealer's product & Heritage charges a commission. The dealer
gets the money & I assume gets charged a fee.

* The 3rd type is for those that search the archives of coins sold in the past. Heritage acts as a go between
for a potential sale of the coin to any prospective buyer by offering them a link called "Make an offer to the owner".
The amount of the offer is up to the buyer. The owner may not know about the solicitation until receiving an e-mail, but may either
accept it, reject it, or make a counter offer, providing they still own the coin & have possession of it.
Heritage passes the money to the owner & charges a fee to the owner of 10%. No fee is charged the buyer.
This program is somewhat new & is still being worked on.

This is my understanding & I hope it is correct! Perhaps the OP can tell us which of these prompted the original thread.

mozin · February 19, 2010 8:44AM

"Make offer to owner" is what I meant when I started this thread. Nice to see so many posts on Heritage practices.

nankraut · February 19, 2010 8:51AM

<< But then, if you decide to accept your own offer, you would have to pay both the buyer's and seller's fees.

While I do like the strategy proposed by sinin1, I would suggest refusing all offers made by yourself. >>

Huh? huh? huh? That's it, I definitely have Alzheimers!

Unknown · February 19, 2010 8:53AM

This content has been removed.

leothelyon · February 21, 2010 7:00AM

<< I was amazed when 205 of the 206 Jefferson nickels sold during the Long Beach auctions. When has that ever happened anywhere? Me thinks many of those coins didn't sell and they're still open for bids or make an offer. So far, I've only been able to track about a dozon of those coins, those added to registry sets this past week and a half. So something does seem rotten in Denmark, IMO.

Leo >>

Oh boy! I get to qoute myself again! Are a few of these nickels from the Heritage auction starting to show up on Teletrade so soon? I thought all those coins sold at Heritage.

Leo

Looks like you'll need to log into Teletrade to see Compradore's 1949 PCGS MS65FS being resold?

leothelyon · February 21, 2010 11:40AM

Here's a bump for those who have a set.
These coins sold through Heritage auction Feb 4 to 7.
They are up for resell Feb 21 in Teletrade.
Lot 305 1939 5C Doubled MONTICELLO MS66 PCGS 5175
Lot 314 1941-S 5C Large S MS66 PCGS 218.50
Lot 317 1943-P 5C Doubled Die Obverse MS66 PCGS 747.50
Lot 318 1943-P 5C Doubled Die MS65 Full Steps PCGS 891.25
Lot 319 1943-P 5C Doubled Die Obverse MS66 Full Steps PCGS 1495
Lot 7322 1945-P 5C MS66 Full Steps PCGS 253
Lot 328 1946-D 5C D/Horiz D MS66 FS PCGS 3593
Lot 7325 1946-S 5C MS66 Full Steps PCGS 345
Lot 7326 1947 5C MS66 Full Steps PCGS 253
Lot 7327 1947-S 5C MS66 Full Steps PCGS 276
Lot 330 1949 5C MS65 Full Steps PCGS 1552
Lot 7329 1949-D/S 5C MS66 PCGS 661
Lot 7330 1950 5C MS66 Full Steps PCGS 253
Lot 332 1951 5C MS66 Full Steps PCGS 1150
Lot 333 1951-S 5C MS66 Full Steps PCGS 632
Lot 7332 1952 5C MS65 Full Steps PCGS 805
Lot 7334 1952-S 5C MS65 Full Steps PCGS 231
Lot 334 1953 5C MS65 Full Steps PCGS 2760
Lot 335 1953-D 5C MS67 PCGS 868
Lot 336 1953-S 5C MS64 Full Steps PCGS 1265
Lot 7338 1954-S/D 5C MS65 PCGS 276
Lot 7340 1955-D 5C MS64 Full Steps PCGS 375
Lot 7342 1956 5C MS66 Full Steps PCGS 172
Lot 338 1957 5C MS66 Full Steps PCGS 1725
Lot 339 1957-D 5C MS66 Full Steps PCGS 2530
Lot 7344 1958 5C MS65 Full Steps PCGS 488
Lot 340 1958-D 5C MS67 Full Steps PCGS 2875
Lot 341 1959 5C MS66 Full Steps PCGS 753
Lot 342 1959-D 5C MS66 Full Steps PCGS 1610
Lot 343 1960 5C MS65 Full Steps PCGS 1495
Lot 7346 1962 5C MS66 Full Steps PCGS 431
Lot 346 1964 5C MS66 Full Steps PCGS 1955
Lot 7353 1970-S 5C MS65 Full Steps PCGS 546
From the 1938 to 1970-S, the 88 coins that recently sold through Heritage, 33 are up for sale on Teletrade.
Obviously, the buyer was unhappy with the coins he won off Heritage. Didn’t each coin have a 7 day return policy? Can anyone figure out how long the buyer had the coins in his possession before sending them off to Teletrade?
They would have been sent to Bowers and Merena auctions but since they own Teletrade, that's where they ended up?
Who wants to wager most of the pictures will get the 6:00 floodlight.
Better hurry folks, these won't last. Heck, we'll be seeing these coins in Teletrade for the next 2 months. Plenty of time to get your bids in.

Leo

Heritage "Make Offer to Owner" items

Comments

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

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Heritage &quot;Make Offer to Owner&quot; items

Comments

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

The more qualities observed in a coin, the more desirable that coin becomes!

My Jefferson Nickel Collection

Leave a Comment

Heritage "Make Offer to Owner" items