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Heritage vs. ComicLink: A Quick Snapshot

Started by SteveDuin,

93 posts in this topic

nearmint

nearmint

Posted
Posted
I'm turned off by the fact that Heritage charges a seller's premium and a buyer's premium. After all is said and done, their cut is somewhere in the neighborhood of 35-40% of the sale price. Seems a bit high, considering that other auction sites are able to survive with a 8-10% commissions.

 

It's 29.5%, right? And 10% of that is very negotiable.

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Hank Pym

Hank Pym

Posted
Posted
I'm turned off by the fact that Heritage charges a seller's premium and a buyer's premium. After all is said and done, their cut is somewhere in the neighborhood of 35-40% of the sale price. Seems a bit high, considering that other auction sites are able to survive with a 8-10% commissions.

 

It's 29.5%, right? And 10% of that is very negotiable.

 

From Heritage "Terms and Conditions:"

 

Buyer’s Premium:

"2. On bids placed through Auctioneer, a Buyer’s Premium of fifteen percent (15%) will be added to

the successful hammer price bid on lots in Coin, Currency, and Philatelic auctions or nineteen

and one-half percent (19.5%) on lots in all other auctions. There is a minimum Buyer’s Premium

of $14.00 per lot. In Gallery Auctions (sealed bid auctions of mostly bulk numismatic material),

the Buyer’s Premium is 19.5%.

 

25. Lots delivered to you, or your representative in the States of Texas, California, New York, or

other states where the Auction may be held, are subject to all applicable state and local taxes,

unless appropriate permits are on file with Auctioneer. (Note: Coins are only subject to sales tax

in California on invoices under $1500 and in Texas on invoices under $1000. Check the Web site

at: http://coins.ha.com/c/ref/sales-tax.zx for more details.) Bidder agrees to pay Auctioneer

the actual amount of tax due in the event that sales tax is not properly collected due to: 1) an

expired, inaccurate, inappropriate tax certificate or declaration, 2) an incorrect interpretation of

the applicable statute, 3) or any other reason. The appropriate form or certificate must be on file

at and verified by Auctioneer five days prior to Auction or tax must be paid; only if such form or

certificate is received by Auctioneer within 4 days after the Auction can a refund of tax paid be

made. Lots from different Auctions may not be aggregated for sales tax purposes."

 

Therefore 19.5 % BP, plus state sales tax for deliveries to CA, TX, or NY. As far as I know there is no "Seller's Premium," unless a buyer is late in payment or is default, and the out of grace buyer then becomes the "Seller."

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nearmint

nearmint

Posted
Posted
I'm turned off by the fact that Heritage charges a seller's premium and a buyer's premium. After all is said and done, their cut is somewhere in the neighborhood of 35-40% of the sale price. Seems a bit high, considering that other auction sites are able to survive with a 8-10% commissions.

 

It's 29.5%, right? And 10% of that is very negotiable.

 

From Heritage "Terms and Conditions:"

 

Buyer’s Premium:

"2. On bids placed through Auctioneer, a Buyer’s Premium of fifteen percent (15%) will be added to

the successful hammer price bid on lots in Coin, Currency, and Philatelic auctions or nineteen

and one-half percent (19.5%) on lots in all other auctions. There is a minimum Buyer’s Premium

of $14.00 per lot. In Gallery Auctions (sealed bid auctions of mostly bulk numismatic material),

the Buyer’s Premium is 19.5%.

 

25. Lots delivered to you, or your representative in the States of Texas, California, New York, or

other states where the Auction may be held, are subject to all applicable state and local taxes,

unless appropriate permits are on file with Auctioneer. (Note: Coins are only subject to sales tax

in California on invoices under $1500 and in Texas on invoices under $1000. Check the Web site

at: http://coins.ha.com/c/ref/sales-tax.zx for more details.) Bidder agrees to pay Auctioneer

the actual amount of tax due in the event that sales tax is not properly collected due to: 1) an

expired, inaccurate, inappropriate tax certificate or declaration, 2) an incorrect interpretation of

the applicable statute, 3) or any other reason. The appropriate form or certificate must be on file

at and verified by Auctioneer five days prior to Auction or tax must be paid; only if such form or

certificate is received by Auctioneer within 4 days after the Auction can a refund of tax paid be

made. Lots from different Auctions may not be aggregated for sales tax purposes."

 

Therefore 19.5 % BP, plus state sales tax for deliveries to CA, TX, or NY. As far as I know there is no "Seller's Premium," unless a buyer is late in payment or is default, and the out of grace buyer then becomes the "Seller."

 

Seller's Premium is 10%, but like I said, that's very negotiable if you have quality books. I thought DCMan was saying Heritage gets 35-40%. They don't get the sales tax(they obviously have to pass that on to the state) so that shouldn't be factored into their take.

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MrBedrock

MrBedrock

Posted
Posted
I'll just take my business elsewhere...

Is sales tax also the reason to not buy back issues from your favorite local back issue comic shop? A comic shop that loves you. A comic shop that would listen to your concerns and possibly adjust accordingly. LMK (thumbs u

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ImageMask

ImageMask

Posted
Posted
I'll just take my business elsewhere...

 

 

 

Is sales tax also the reason to not buy back issues from your favorite local back issue comic shop? A comic shop that loves you. A comic shop that would listen to your concerns and possibly adjust accordingly. LMK (thumbs u

 

When you know of such a LCS, LMK :baiting:

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