Heritage Buyer Premium going up to 17.5%

[dimefreak]

I've been a consignor through Heritage Auctions for 20+ years. I've always negotiated a fair commission rate at a minimum of 100% of hammer. On many occasions, I have received three to four times for what I thought the coin would sell and rarely had to have a buyback. As a consignor, if you pinch the pennies, you will loose the dollars. 17.5% doesn't bother me if I am getting 4-5 times price guide.

 

 

TRUTH

 

I dont think you can always bet on getting 4-5x guide.

 

 

Of course not. That's why smart consignors place coins in Heritage Auctions that will do well with a sophisticated audience, not just "stuff" or lower level collector coins. There are many other venues for under $500 coins.

 

 

TRUTH

 

Im a smart consignor and I never have ever consigned to heritage. My guy gets me way more than heritage prices. In one instance he got me 15X what heritage got for the same exact coin ........ Just recently sold a coin for more than any auction firm has ever gotten for the same date and grade. Just thought Id let you know that there are options. I for one am happy that I seen the light

[johnny9434]

time to look at great collections then. jmo

[SkyMan]

Most other collectibles have significantly higher premiums. For space memorabilia sold at Heritage the premium is 19.5%. Just look at what you're willing to spend on an item, take out the commission cost and bid accordingly... it's not rocket science. Heck I just won an item at Bonhams last week where their commission is 25% (23% for cash or wired money). I still paid significantly less than their low end estimate on the item.

 

As to consignors, if you have a decent piece and/or collection you can negotiate with the auction house and end up with more than 100% of the hammer price.

[jom]

time to look at great collections then. jmo

 

This

 

jom

[jayman1970]

I agree with SkyMan when I find a coin i want to bid on I figure the max I am willing to spend in total .then minus buyers premium and shipping costs and I have arrived at my bid limit!!

[Frank Provasek]

Heritage is running a full page ad in Fort Worth Weekly, an "alternative" paper that usually runs ads for local clubs, restaurants, escorts and head shops. It's for non coin stuff, but I noticed the fine print said 25% buyers premium.

[BAJJERFAN]

The cost to Heritage for someone to send their coins to them for consignment/evaluation is zero. How much do you think it would cost them to travel to check out a house full of antique furniture?

[AnkurJ]

time to look at great collections then. jmo

 

GC is good, but as a collector I'm rarely able to find anything under full retail. No deals to be had in my opinion as most everything has a high reserve.