BEST AUCTION HOUSE FOR SELLERS OF GOLDEN AGE BOOKS 2 2

[sfcityduck]

As a seller, I was very pleased with the outcome of the few books I've sold in event auctions (never sold in a lesser auction), including that they gave me a discount.  

As a buyer, I find the Heritage interface, searchability, layout, and records as extremely helpful for finding the books I want.  Because of that, I tend to think that buyers may be more inclined to buy an off the beaten path book on Heritage than some of the other sites where finding books is much much more cumberson, especially if you are just browsing to see if there is anything you want.

[lou_fine]

22 hours ago, nooncee said:

This buyers premium has always been a point of contention with other auction houses but as of late I've noticed Comic Connect beginning to charge a 17.5 % buyers premium on many of their books up on auction.

It should be pointed out that the Buyer's Premium for Heritage is completely different from the Buyer's Premium in the case of ComicConnect.  

Unless you are able to successfully negotiate some of your fees away, you as the consignor will be paying both the Buyer's Premium and the Seller's Premium as both of these fees are kept by Heritage.  The Buyer's Premium which is actually 15% BTW is actually kept by the consignor and really more of an enticement simply because they can squeeze just that little bit more out from the auction house's cut, as per this post from Gator here:

On 12/25/2020 at 3:21 AM, G.A.tor said:

I believe the consignor gets the 15% without paying 10% on the bp. So, if I’m understanding correctly, if winning bid is 1000, 100 goes to cc and consignor gets 1050

versus a 1150 winning bid where cc gets 115 and consignor gets 1035. 
 

in that respect , consignor might ask for the bp so they realize 1.5% more?

 

[lou_fine]

6 minutes ago, sfcityduck said:

As a seller, I was very pleased with the outcome of the few books I've sold in event auctions (never sold in a lesser auction), including that they gave me a discount. 

Well, I assume you must have had a large high dollar value consignment or some headline grabbing promotion quality book(s) in order to get a special discount below their standard 10% seller's consignment fee.  

[sfcityduck]

Just now, lou_fine said:

Well, I assume you must have had a large high dollar value consignment or some headline grabbing promotion quality book(s) in order to get a special discount below their standard 10% seller's consignment fee.  

Nope, it was a new seller discount.  Earned them my good will.  Smart business.

[lou_fine]

16 hours ago, Randall Dowling said:

I think most collectors follow all 3 and go where the books are.  But I could be wrong.  

I don't think you are wrong at all here on this point of yours. 

The only qualifier that I have is that I must admit CL seems to have an rather overwhelming number of seemingly never ending consecutive (or are they overlapping ) auctions and it's rather easy to get lost, to the point that I tend to ignore some of them after awhile.  

[lou_fine]

12 minutes ago, sfcityduck said:

Nope, it was a new seller discount.  Earned them my good will.  Smart business.

Was it any better for them financially than this new 15% BP system that they now seem to have instituted for some of their consignments.  

Seems that this 15% BP thing has drawn a lot of negative flak from the collectors and board members here and I guess they can't really hype that they are an auction house without a Buyer's Premium anymore.  

[LDarkseid1]

5 hours ago, lou_fine said:

 

Well, I am not that sure about the $5K price point since that is not actually so much in today's crypto crazed FOMO like marketplace of ours.  

Now, if it was a book that was valued at $50K or more, then I would definitely put HA in the lead-off spot since they have more eyeballs on their website with the deeper pockets.  Besides that, an amount of $50K or more would then provide me with some negotiating leverage with Heritage in terms of getting the fees back down to a more reasonable and competitive level with the both CL and CC.  

This current crazy market is actually causing me to feel a bit disillusioned with comics now a days, a bit jaded and kind of over it. I think I’m just going to leave the boards for a while and take a break. It’s been fun Lou, maybe I’ll talk to you in the months to come on another post 🤷‍♂️. Goodbye dear CGC forum, it’s been a blast 👌

Edited April 22, 2021 by LDarkseid1

[tpetty]

If CC/CL and Heritage both have the same book, with the exact same CGC grade, then I will bid less on the book on Heritage because of the extra buyer's fee, which most people take into account - so that my FINAL, REAL purchase price is the roughly the same on either site after taking into account the Heritage vig.  While it's possible that if someone bids similarly on both sites (without factoring in the buyer's premium) because they don't understand the process, and that drives the total purchase price a little higher, it is the auction house - not the seller - that is making more.

Edited April 22, 2021 by tpetty

[lou_fine]

2 hours ago, tpetty said:

If CC/CL and Heritage both have the same book, with the exact same CGC grade, then I will bid less on the book on Heritage because of the extra buyer's fee, which most people take into account - so that my FINAL, REAL purchase price is the roughly the same on either site after taking into account the Heritage vig. 

Umm....................I believe all rational bidders who know simple grade 5 arithmetic would do this before placing their bids on a HA lot.  

Then again, I guess they are hoping that some bidders might just get lost in the moment and bid without thinking like that.  That's why I love the 3-minute extended bidding seesions that CC has because that 3 minutes is sure a long long time when you are waiting for the clock to wind down to zero if you have the leading bid and yet gives you a lot of time to rationalize everything in your mind if you are behind and thinking whether you should bump iot up to the next bid increment or not.  

[Bronty]

I mean, the price before and after BP is there in big red type when you bid live.   I don't know how anyone could miss it unless they just aren't paying attention.

[Cat-Man_America]

On 4/22/2021 at 12:12 AM, lou_fine said:

Umm....................I believe all rational bidders who know simple grade 5 arithmetic would do this before placing their bids on a HA lot.  

Then again, I guess they are hoping that some bidders might just get lost in the moment and bid without thinking like that.  That's why I love the 3-minute extended bidding seesions that CC has because that 3 minutes is sure a long long time when you are waiting for the clock to wind down to zero if you have the leading bid and yet gives you a lot of time to rationalize everything in your mind if you are behind and thinking whether you should bump iot up to the next bid increment or not.  

You're absolutely right, it's all grade 5 arithmetic.  Unfortunately, an auction is like recess with the kids wrestling over ownership of that one special book before the bell rings!