Heritage Buyers Premium 0

[toro]

I thought the minimum was $19?  When did it change to $29?

"For Comic, Currency, Movie Posters, Sports Collectibles, U.S. Animation Art, U.S. Coin, and World & Ancient Coin Auction lots the Buyer’s Premium is twenty percent (20%) subject to a minimum of $29 per lot, except for Sports Collectibles lots which are subject to a minimum of $14 per lot;"

[Doctor Dositheus]

Yeah, I was surprised yesterday by that. It must have been in the last couple months.

Edited November 2, 2021 by Doctor Dositheus
spelling

[toro]

If I only had one win I used to add another item and just factored that $19 into it.  Now at $29, I think I will pass.

[Domo Arigato]

On 11/1/2021 at 6:46 PM, toro said:

I thought the minimum was $19?  When did it change to $29?

"For Comic, Currency, Movie Posters, Sports Collectibles, U.S. Animation Art, U.S. Coin, and World & Ancient Coin Auction lots the Buyer’s Premium is twenty percent (20%) subject to a minimum of $29 per lot, except for Sports Collectibles lots which are subject to a minimum of $14 per lot;"

I noticed that on the Heritage video game auctions I've been watching lately.

I think it's a very recent change.

 

[ttfitz]

I also had not noticed, thanks for posting this.

The last lot I won was in mid-August at $110 plus BP of $22, so it's been since then.

[ExNihilo]

Geez, 20% buyers premium sounds RIDICULOUS.

[Vixom]

I seen a book a few weeks ago and asked myself why hasn't anyone bid on it. Then noticed the higher minimum. $10 or whatever was a difference maker. 

[Vixom]

On 11/2/2021 at 1:22 AM, ExNihilo said:

Geez, 20% buyers premium sounds RIDICULOUS.

If everyone paid the 20 and if everyone factored in the 20 it wouldn't matter unless you were the consigner. I applaud heritage though. Good for them. 

[BigLeagueCHEW]

On 11/1/2021 at 10:22 PM, ExNihilo said:

Geez, 20% buyers premium sounds RIDICULOUS.

Isn't it 20 buyer and 20 seller? 

[William-James88]

On 11/2/2021 at 9:08 AM, BigLeagueCHEW said:

Isn't it 20 buyer and 20 seller? 

Seller can be negotiated to be a bit lower. 
Also, I thought it always was 20% BP. What's new is the 29$ minimum. But I get why, they are venturing into modern comics, something they didn't do much before. And demand can change on a dime, so they want to ensure their profits.

Raising the BP wouldnt really impact the buyers though since it always figures into the total price shown. It just means buyers would bid a lesser amount to make up for it, leaving the seller with potentially less (and more for Heritage). Item will still sell as much as it would.

Edited November 2, 2021 by William-James88

[Robot Man]

Then figure in tax and shipping. Plus, you have to fight it out just to secure the book in the first place. If you are talking in demand GA books that I collect, a real deal breaker. 

The market is very strong already. Just more of a money grab. I guess I can’t blame them. 

I’m done bidding in their auctions...

[valiantman]

On 11/2/2021 at 8:12 AM, William-James88 said:

Seller can be negotiated to be a bit lower. 
Also, I thought it always was 20% BP. What's new is the 29$ minimum. But I get why, they are venturing into modern comics, something they didn't do much before. And demand can change on a dime, so they want to ensure their profits.

Raising the BP wouldnt really impact the buyers though since it always figures into the total price shown. It just means buyers would bid a lesser amount to make up for it, leaving the seller with potentially less (and more for Heritage). Item will still sell as much as it would.

Looking at it from Heritage's point of view, it seems like they're trying to guide sellers toward a minimum item value.

With a $19 minimum BP, Heritage was basically telling sellers not to bother sending items under $95, because Heritage gets more than 20% BP when the item is under $95.

Changing to a $29 minimum BP, Heritage is basically telling sellers not to bother sending items under $145, because Heritage gets more than 20% BP when the item is under $145.

[ExNihilo]

On 11/2/2021 at 6:08 AM, BigLeagueCHEW said:

Isn't it 20 buyer and 20 seller? 

I've never bought on Heritage before.  I have my eye on a current item and am just learning all this stuff now.  Wow, fees on both the buyer and seller side.  And I thought eBay's 10% (on the sellers side) sucked.

[oakenfelder]

On 11/1/2021 at 4:46 PM, toro said:

I thought the minimum was $19?  When did it change to $29?

"For Comic, Currency, Movie Posters, Sports Collectibles, U.S. Animation Art, U.S. Coin, and World & Ancient Coin Auction lots the Buyer’s Premium is twenty percent (20%) subject to a minimum of $29 per lot, except for Sports Collectibles lots which are subject to a minimum of $14 per lot;"

I believe that last week was the jump. Also the minimum to cut the bid jumped up from $100. I forget what it is now.

[Dick Pontoon]

On 11/1/2021 at 7:46 PM, toro said:

I thought the minimum was $19?  When did it change to $29?

"For Comic, Currency, Movie Posters, Sports Collectibles, U.S. Animation Art, U.S. Coin, and World & Ancient Coin Auction lots the Buyer’s Premium is twenty percent (20%) subject to a minimum of $29 per lot, except for Sports Collectibles lots which are subject to a minimum of $14 per lot;"

I missed that, thanks for the post! Must be recent. The last time I won something I forgot that they're charging 3% for CC payment now.

I still look, but the hammer prices have been pretty nutty for quite a while. RobotMan might not blame them for the money grab, but I do! Seems a bit over the top, especially when the market is so strong.

 

[William-James88]

On 11/2/2021 at 11:28 AM, valiantman said:

Looking at it from Heritage's point of view, it seems like they're trying to guide sellers toward a minimum item value.

With a $19 minimum BP, Heritage was basically telling sellers not to bother sending items under $95, because Heritage gets more than 20% BP when the item is under $95.

Changing to a $29 minimum BP, Heritage is basically telling sellers not to bother sending items under $145, because Heritage gets more than 20% BP when the item is under $145.

They already had a $5000 minimum entry value (total) for sellers. So I'm guessing people were not sending them Solar Man of the Atom 10 9.6s before (meant to tell you, I took your advice and started getting some. Sadly my first 9.6 I got back is indeed a full on 9.6 and I would be shocked if it came back higher. But that's just the first one).

[musicmeta]

On 11/2/2021 at 12:22 AM, ExNihilo said:

Geez, 20% buyers premium sounds RIDICULOUS.

It is for me.  I do bid on a book every now and then and just factor in this sky high 20% commission.  I hardly ever win.  

[OuterBanks]

On 11/2/2021 at 1:22 AM, ExNihilo said:

Geez, 20% buyers premium sounds RIDICULOUS.

15-25% buyer’s premium seems to be common among auction houses outside of comics though.   

Why does this bother people so much?  This is a high end auction house with massive costs associated with it - big staff, offices all over the globe, slick marketing budget etc.  That’s not gonna happen for free.  You want 10% and fewer bells and whistles then there are plenty of other options.

Heritage routinely sets records on books and as a collector that helps me with valuation.  They can have a 40% buyer’s premium - if some rich oil tycoons in Texas want to show up at their office and spend $4M on a high grade AF15 that’s great news for me and my crappy 2.5 AF15.

 

[Point Five]

Not only that, but us New Yawkers (and presumably Texans as well) pay sales tax on top of that. When you see me posting a win from them you know I basically wanted it more than anyone else on earth! (Or I got drunk and threw in thrill bids. Either way.)

 

[Point Five]

On 11/2/2021 at 5:50 PM, OuterBanks said:

15-25% buyer’s premium seems to be common among auction houses outside of comics though.   

Why does this bother people so much?  This is a high end auction house with massive costs associated with it - big staff, offices all over the globe, slick marketing budget etc.  That’s not gonna happen for free.  You want 10% and fewer bells and whistles then there are plenty of other options.

Heritage routinely sets records on books and as a collector that helps me with valuation.  They can have a 40% buyer’s premium - if some rich oil tycoons in Texas want to show up at their office and spend $4M on a high grade AF15 that’s great news for me and my crappy 2.5 AF15.

 

I can't disagree with any of this. They are pros and their site is a pleasure to use.