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Cost of Doing business with Heritage

Started by 4GEMWORKS,

30 posts in this topic

4GEMWORKS

4GEMWORKS

Posted
Posted

Hi All-

 

I have asked a few people over the years exactly what they were paying to sell through Heritage. Their fees , on the surface, are certainly confiscitory in nature. I have heard about discounts and reductions in those fees. I've never gotten anybody to tell me what those fees are.

 

I don't know if people are just embarrased to admit they accept those types of fees or if they are actually getting a much better deal. Comiclink is a flat 10%, plain and simple.

 

Can anybody provide real life experience with the fees they pay to consign to Heritage? I would consign to them myself if I could just get a straight answer.

 

 

Many thanks-

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comix4fun

comix4fun

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Think the 'link' (10%) and double it!

 

 

 

That's not what seller's pay to consign to heritage. That's what the buyer's premium is.

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Flaming_Telepath

Flaming_Telepath

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I've heard of some sellers with quality material negotiating the seller's vig down to zero. You still get hit in the end, though, as buyers factor in the 19.5% buyer's commission into their bids.

 

(thumbs u

 

At a certain 'value' point, I know for fact that zero percent has been offered.

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JiveTurkeyMoFo

JiveTurkeyMoFo

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I'm pretty sure that some people have gotten part of the buyer's vig.

 

When I consigned with Heritage earlier this year, it was with a 0% seller's commission, but I had to send them at least $10k worth of books for that to happen. As for getting part of the buyer's premium, Barry Sandoval told me I'd have to consign at least $50k worth of material for them to consider that. I'm sure $50k isn't an absolute threshold, but take it for what its worth.

 

 

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ckp1680

ckp1680

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Posted
I'm pretty sure that some people have gotten part of the buyer's vig.

 

When I consigned with Heritage earlier this year, it was with a 0% seller's commission, but I had to send them at least $10k worth of books for that to happen. As for getting part of the buyer's premium, Barry Sandoval told me I'd have to consign at least $50k worth of material for them to consider that. I'm sure $50k isn't an absolute threshold, but take it for what its worth.

 

 

I've always been curious why someone would consign knowing that the people buying do factor in the buyers premium. Were you happy with the results? Did you think by using Heritage you made up the 9.5 % extra that they charge over the competition?

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JiveTurkeyMoFo

JiveTurkeyMoFo

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I'm pretty sure that some people have gotten part of the buyer's vig.

 

When I consigned with Heritage earlier this year, it was with a 0% seller's commission, but I had to send them at least $10k worth of books for that to happen. As for getting part of the buyer's premium, Barry Sandoval told me I'd have to consign at least $50k worth of material for them to consider that. I'm sure $50k isn't an absolute threshold, but take it for what its worth.

 

 

I've always been curious why someone would consign knowing that the people buying do factor in the buyers premium. Were you happy with the results? Did you think by using Heritage you made up the 9.5 % extra that they charge over the competition?

 

To answer your question, yes. Most of my books went for around FMV, but two went for well above what I was expecting. In the end, even after the BP, I did better then if I sent them to C-Link.

 

However, the recent auction probably wouldn't have yielded the same results. Many consigners were losing their shirts.

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comix4fun

comix4fun

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I'm pretty sure that some people have gotten part of the buyer's vig.

 

When I consigned with Heritage earlier this year, it was with a 0% seller's commission, but I had to send them at least $10k worth of books for that to happen. As for getting part of the buyer's premium, Barry Sandoval told me I'd have to consign at least $50k worth of material for them to consider that. I'm sure $50k isn't an absolute threshold, but take it for what its worth.

 

 

I've always been curious why someone would consign knowing that the people buying do factor in the buyers premium. Were you happy with the results? Did you think by using Heritage you made up the 9.5 % extra that they charge over the competition?

 

 

I don't know if Clink is exactly the same thing as Heritage. They both sell comics and art but that's about where the similarities end.

 

I love Clink, but there's no live bidding, no catalogs, no streaming of the live bids over the internet, and Heritage has massive reach into the auction world given their long history in it. The catalogs and the technology and manpower that go into those live auctions is not cheap.

 

Sotheby's or Christies would be a more apt comparison.

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BucOne-migration

BucOne-migration

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I'm pretty sure that some people have gotten part of the buyer's vig.

 

When I consigned with Heritage earlier this year, it was with a 0% seller's commission, but I had to send them at least $10k worth of books for that to happen. As for getting part of the buyer's premium, Barry Sandoval told me I'd have to consign at least $50k worth of material for them to consider that. I'm sure $50k isn't an absolute threshold, but take it for what its worth.

 

 

I've always been curious why someone would consign knowing that the people buying do factor in the buyers premium. Were you happy with the results? Did you think by using Heritage you made up the 9.5 % extra that they charge over the competition?

 

 

I don't know if Clink is exactly the same thing as Heritage. They both sell comics and art but that's about where the similarities end.

 

I love Clink, but there's no live bidding, no catalogs, no streaming of the live bids over the internet, and Heritage has massive reach into the auction world given their long history in it. The catalogs and the technology and manpower that go into those live auctions is not cheap.

 

Sotheby's or Christies would be a more apt comparison.

(thumbs u
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tth2

tth2

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Posted
I have asked a few people over the years exactly what they were paying to sell through Heritage. Their fees , on the surface, are certainly confiscitory in nature. I have heard about discounts and reductions in those fees. I've never gotten anybody to tell me what those fees are.

 

I don't know if people are just embarrased to admit they accept those types of fees or if they are actually getting a much better deal. Comiclink is a flat 10%, plain and simple.

Maybe the terms agreed with Heritage are confidential? (shrug)

 

What I can say is that Heritage will often drop the seller`s commission to 7.5% without very much prodding (and sometimes will volunteer it), and in some cases to 0%.

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RockMyAmadeus

RockMyAmadeus

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I'm pretty sure that some people have gotten part of the buyer's vig.

 

When I consigned with Heritage earlier this year, it was with a 0% seller's commission, but I had to send them at least $10k worth of books for that to happen. As for getting part of the buyer's premium, Barry Sandoval told me I'd have to consign at least $50k worth of material for them to consider that. I'm sure $50k isn't an absolute threshold, but take it for what its worth.

 

 

Those really aren't high thresholds comparetively.

 

I imagine Sotheby's would be a substantial bit higher.

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tth2

tth2

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Posted
I'm pretty sure that some people have gotten part of the buyer's vig.

 

When I consigned with Heritage earlier this year, it was with a 0% seller's commission, but I had to send them at least $10k worth of books for that to happen. As for getting part of the buyer's premium, Barry Sandoval told me I'd have to consign at least $50k worth of material for them to consider that. I'm sure $50k isn't an absolute threshold, but take it for what its worth.

 

 

I've always been curious why someone would consign knowing that the people buying do factor in the buyers premium. Were you happy with the results? Did you think by using Heritage you made up the 9.5 % extra that they charge over the competition?

 

 

I don't know if Clink is exactly the same thing as Heritage. They both sell comics and art but that's about where the similarities end.

 

I love Clink, but there's no live bidding, no catalogs, no streaming of the live bids over the internet, and Heritage has massive reach into the auction world given their long history in it. The catalogs and the technology and manpower that go into those live auctions is not cheap.

 

Sotheby's or Christies would be a more apt comparison.

Well said. If they were offering the same product and achieved the same prices, then picking Clink because of the lower commission would be a no-brainer.

 

But they don`t, and they also have different core markets. If I were selling SA or BA Marvel, or BA DC, I would go with Clink without any hesitation, because that is their strength and all of the big players in that segment clearly follow them. Clink has also made some progress in SA DCs, although I think it`s still a bit of a toss-up, even factoring in the different commission rates. Of course, Pedigree is also very strong in the areas that Clink is strong in.

 

For GA, particularly big ticket books, and OA, I would go with Heritage. I can`t think of any big GA collector that follows Clink but doesn`t follow Heritage, whereas a number of them follow Heritage but not Clink.

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Primetime

Primetime

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I'm pretty sure that some people have gotten part of the buyer's vig.

 

When I consigned with Heritage earlier this year, it was with a 0% seller's commission, but I had to send them at least $10k worth of books for that to happen. As for getting part of the buyer's premium, Barry Sandoval told me I'd have to consign at least $50k worth of material for them to consider that. I'm sure $50k isn't an absolute threshold, but take it for what its worth.

 

 

Jive,

So you sent them $10k worth of books. Let's say they sold for $10k (including the juice). So, you get $8k?

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MrBedrock

MrBedrock

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Everything is negotiable. Heritage's sellers fees are negotiable depending on the quality of material you consign and your willingness to also negotiate the reserves. I did one very large (200K+) no reserve consignment with them and negotiated to 105% of hammer. Basically they kicked back part of the buyer's premium. They also threw in an ad in the auction catalogue.

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RockMyAmadeus

RockMyAmadeus

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Everything is negotiable. Heritage's sellers fees are negotiable depending on the quality of material you consign and your willingness to also negotiate the reserves. I did one very large (200K+) no reserve consignment with them and negotiated to 105% of hammer. Basically they kicked back part of the buyer's premium. They also threw in an ad in the auction catalogue.

 

Did you get a better return for the material, though? Higher than Clink or eBay?

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