Heritage/Vs E-Bay

[jkrk]

As a golden age buyer I was wondering why more sellers don't put up their comics on E-Bay with a reserve and attempt to save the 12% differential in the vig? I would bite on some higher priced books if I could save the vig. I noticed one seller had a long run of Caps or Marvel mysteries lately and sold some books on E-Bay. As I view it each method has it's pros and cons: Heritage has a wider audience for their auctions. Heritage promotes the books. Heritage is a more convienent way to buy in so much as a buyer can make one large purchase over a few days rather than hunt and peck. E-Bay has the price advantage on the 12% net vig. I suspect that Heritage auctions attract a higher bid which offsets the diff. Am I correct?

Just wondering about other views.

[Timely]

I think it goes book by book. Even Heritage has big price sale differences in the exact same book in the exact same grade. Heritage actually gets 30%, not 15% of the total sale (15% on each side) where ebay gets 2-5% total based on value.

 

Timely

[sfilosa]

think it goes book by book. Even Heritage has big price sale differences in the exact same book in the exact same grade. Heritage actually gets 30%, not 15% of the total sale (15% on each side) where ebay gets 2-5% total based on value.

 

 

I'm definitely a Heritage fan so here are some reasons I think that certain books can sell for much more on Heritage site.

 

1) While Heritage does take 30%, if you are a seller on eBay, more than likely you will pay 3-6% to eBay AND 3% to PayPal. If you don't take PayPal, I believe that in general, there are people who won't bid (because PayPal through a credit card protects the buyer).

 

2) Heritage almost always has HUGE scans of the FRONT and BACK COVER. So if the book really is a strictly graded book with excellent quality of production, it is easier to see (and therefore a premium might be paid).

 

3) If you buy from Heritage, you KNOW you are going to get the book. No need to look at feedback and no concerns if the book doesn't arrive exactly when you think it should.

 

4) As also been stated before, even if selling on eBay, anytime a lot of books that are similar are sold at the same time, you can get the SUM is greater than the PARTS theory. In other words, if ten early high-grade issues of Amazing Spider-Man are being auctioned at the same time (or near same time), more people will wait around to make last minute bids than if only one issue is being auctioned.

 

5) They have LIVE auction for their SIGNATURE sales. That means the auctions don't end at a specfic time, they end when no one is willing to pay anymore. How many times have you bid on a book on eBay and this has happened.

 

1) You are winning a book for $300 with ten minutes to go.

2) You would pay $500 for the book.

3) Someone out bids you in the last two minute, so the bid is now $305

4) You then bid $400, still losing, bid $450, and the auction ends.

5) The winner gets the book for $450 (and you're shaking your head saying I would have paid more than that).

 

And no, I don't work for Heritage. And I do buy from eBay, Heritage and Comiclink.

 

 

 

 

[aardvark88]

To clarify, Heritage skims 26%, NOT 30%.

e.g. comic hammers for $100 + 15% juice = $115.

Consignor nets $85 which is about 74% of the total $115.

End of today's math lesson.

[jkrk]

Great explanation. Here is my thinking. If the seller has a great deal of feedback he could list the book on E-bay and there are many books that I would buy if I could get it for 15% less than it sold on Heritage. In addition I would pay by certified check. We are talking books priced over $3000 in which there really is a savings. The seller also benefits in his savings.

 

Here is a question I also wondered about. I note that some books are sold on Heritage, say six months ago and now appear for sale. Is the seller paying 30% (the buying commish the first time and now the selling commish)?

[sfilosa]

To clarify, Heritage skims 26%, NOT 30%.

e.g. comic hammers for $100 + 15% juice = $115.

Consignor nets $85 which is about 74% of the total $115.

End of today's math lesson.

 

 

Or you could look at it this way.

 

Actual sale $115

Price seller receives $85

 

$115 / $85 - 1 = 35% which is the amount of profit the seller didn't receive.

 

End of Math Lesson Part II.

 

 

[jkrk]

Love the math lessons now let's talk specifics. I have seen a number of books that were traded on Heritage in a prior auction that is now being sold again. I don't know the details but was operating under the assumption that the buyer was reselling the book. I don't know if Heritage had a prior lay away plan and the buyer defaulted but was wondering why the book was put up again through Heritage. In a specific case (I believe Detective 31) The book was sold for $4500 (With buyers commish). Someone is currently selling the book through Heritage. I assume it's the prior buyer. If the book trades at exactly the same price as the prior sale the net to the seller will be roughly $3300 or a $1200 differential. I viewed this as a nice markdown over 11 months. I am always cynical in my thought process and always try to understand the game. The answer could be as simple as the seller needs money. I'm curious as to other's views.

[archiefan]

It is very difficult to establish exactly what happens in cases like this. Believe it or not Heritage allows the consignor to bid on his own items (i.e. act as his own shill). Perhaps this is what happened in this case. If this happens and he wins his own items he may "pay a different fee" than the buyer's premium (i.e. a lower amount). He may also have been awarded credits toward the seller's fee on consignments by completing surveys on their website, etc. I know this incentive has been offered to me as I have a couple "coupons" stating this. So the percentages paid in to Heritage aren't necessarilly the same for everyone.

[jkrk]

Thanks. I'm learning.

[sfilosa]

If a book doesn't meet reserve, the seller pays a commission but not full price (from what I have been told).

 

And yes, there are people who buy books from Heritage and then sell the books again thru Heritage.

 

In some cases, employees will win books because they can see the book in person and believe that it is undergraded. They resubmit the book and get a higher grade.

 

Now start bidding on some auctions (just not the ones I'm bidding on).

[CosmicBob]

If a book doesn't meet reserve, the seller pays a commission but not full price (from what I have been told).

 

And yes, there are people who buy books from Heritage and then sell the books again thru Heritage.

 

In some cases, employees will win books because they can see the book in person and believe that it is undergraded. They resubmit the book and get a higher grade.

 

Now start bidding on some auctions (just not the ones I'm bidding on).

 

Heritage has a "BuyBack Fee" that can be up to 15% of the "Reserve" price if an item doesn't sell. But in my case they waived it and so I wouldn't have had to pay anything if the book didn't sell at the Reserve price. They will ask you what reserve you want to put on it and if they think it will sell they will waive the fee. And they don't (or didn't at the time) allow reserves on anything less than $500 books. So the consignment guy (Lon Allen?) evaluates the reserve you want and accepts it or not.

 

They should just call it a reserve.