The August Heritage Auction

[Rob]

That seems like pretty good advice. If you get a nice deal on the book you want you've got a free shot to buy more books up to $2500.

 

Well, I'm planning on bidding $3000 on the book (and no, it's not the one previously mentioned). So if it goes for $3000 (if I win it at all), I don't want to spend more. I know there's no solution, I'm just venting. I'll feel better when it's at $2500, and I put my $3000 bid.

[batman_fan]

I got about $2500 to spend in this one, but my hopes of picking up more than one or two books is quickly falling by the wayside.

[Psiknight]

I got about $2500 to spend in this one, but my hopes of picking up more than one or two books is quickly falling by the wayside.

 

I have a bit over $1000 to spend and it's quickly looking like a one book pick up. if any.

[reality_consensus]

I have a copy of Happy Rabbit 47. Let me know if you are interested.

[Filter81]

Give Marti Korver of Heritage a call, I'm sure they'll work with you on this, particularly if your final amount is close to $2400 and you're actually going to pay within 2-4 weeks. You might not even need to go on payment plan at all, which entails charging of interest. Just tell them you plan to pay in 2-4 weeks, and I'm sure if you can pay 30-50% right away, they'll be okay with the remainder being paid within 30 days without even charging you interest.

 

Good luck with this!!! I spent $240,000 with them in an auction last October. I called the accounting/credit department and told them I would be paying them in full within a month, and that I did NOT want to go on the payment plan. I was told this would be fine and I would not be charged interest.

 

Within 30 days of when the initial payment is due, I paid Heritage in full for the invoice. I was charged the full amount of interest anyway. (I was told that the people in the accounting/credit department didn't have the authority to say what they said.)

 

Not only that, but I was charged interest going back all the way to the day the auction ended. (Even though invoices letting me know what I had won didn't go out until a week to a week and a half after the auction. And even though the first payment isnt even due until 2 weeks after the auction ends) That may not seem like a big deal, but 2 weeks of extra interest at 1% a month of $240,000 adds up to quite a bit of money.

 

On top of this, they recorded my payment as being received 2 1/2 weeks after it was. And they even charged me interest for an extra 2 1/2 weeks after my final payment was made. When I refused to pay what I didn't owe, they continued to charge me interest on the interest I didn't owe until I agreed to pay it. (I was told that if I was overcharged I should pay the full amount anyway in good faith and then go about trying to get a refund.) They even went so far as to say if I didn't pay the extra amount they'd go back and calculate what I owed them using 18% interest on the full $240,000 instead of the agreed-upon 12%.

 

If you try to work out something w/ Heritage, make sure you get whatever they agree to in writing, signed by a president of the company. Because the word of one of their employees means nothing.

[batman_fan]

Give Marti Korver of Heritage a call, I'm sure they'll work with you on this, particularly if your final amount is close to $2400 and you're actually going to pay within 2-4 weeks. You might not even need to go on payment plan at all, which entails charging of interest. Just tell them you plan to pay in 2-4 weeks, and I'm sure if you can pay 30-50% right away, they'll be okay with the remainder being paid within 30 days without even charging you interest.

 

Good luck with this!!! I spent $240,000 with them in an auction last October. I called the accounting/credit department and told them I would be paying them in full within a month, and that I did NOT want to go on the payment plan. I was told this would be fine and I would not be charged interest.

 

Within 30 days of when the initial payment is due, I paid Heritage in full for the invoice. I was charged the full amount of interest anyway. (I was told that the people in the accounting/credit department didn't have the authority to say what they said.)

 

Not only that, but I was charged interest going back all the way to the day the auction ended. (Even though invoices letting me know what I had won didn't go out until a week to a week and a half after the auction. And even though the first payment isnt even due until 2 weeks after the auction ends) That may not seem like a big deal, but 2 weeks of extra interest at 1% a month of $240,000 adds up to quite a bit of money.

 

On top of this, they recorded my payment as being received 2 1/2 weeks after it was. And they even charged me interest for an extra 2 1/2 weeks after my final payment was made. When I refused to pay what I didn't owe, they continued to charge me interest on the interest I didn't owe until I agreed to pay it. (I was told that if I was overcharged I should pay the full amount anyway in good faith and then go about trying to get a refund.) They even went so far as to say if I didn't pay the extra amount they'd go back and calculate what I owed them using 18% interest on the full $240,000 instead of the agreed-upon 12%.

 

If you try to work out something w/ Heritage, make sure you get whatever they agree to in writing, signed by a president of the company. Because the word of one of their employees means nothing.

 

Sounds like pretty sound advice to me.

[Psiknight]

Give Marti Korver of Heritage a call, I'm sure they'll work with you on this, particularly if your final amount is close to $2400 and you're actually going to pay within 2-4 weeks. You might not even need to go on payment plan at all, which entails charging of interest. Just tell them you plan to pay in 2-4 weeks, and I'm sure if you can pay 30-50% right away, they'll be okay with the remainder being paid within 30 days without even charging you interest.

 

Good luck with this!!! I spent $240,000 with them in an auction last October. I called the accounting/credit department and told them I would be paying them in full within a month, and that I did NOT want to go on the payment plan. I was told this would be fine and I would not be charged interest.

 

 

Uh.

[comic_lot]

That's criminal. With their 19.5 percent Buyer's Commission , they made 46,800.00 off of your purchases, plus whatever commission they charged the sellers. I bought one item (for significantly less) during one of their weekly auctions, paid within 10 days, and was charged interest beginning after 7 days.

[Filter81]

That's criminal. With their 19.5 percent Buyer's Commission , they made 46,800.00 off of your purchases, plus whatever commission they charged the sellers. I bought one item (for significantly less) during one of their weekly auctions, paid within 10 days, and was charged interest beginning after 7 days.

 

Actually, I spent in excess of $2,000,000 with them between 2003 & 2005. But they made it pretty clear they could care less. I think their thought process is if their business practices causes a few people not to do business with them anymore, they will still have other people bidding on the auctions anyway.

 

I truly think they overcharge quite a few people on interest. I personally find it surprising that they are even allowed to say "your first payment is due on November 1st, but we are going to go back and charge you interest as of October 15th". They literally start charing interest before people even get their winning invoices sent to them. But I'm no accountant so I have no idea if practices like these are common or not.

 

But given some of Heritage's other business practices I guess i'm not that surprised that they'd try to squeeze every last cent they can.

[Psiknight]

That's criminal. With their 19.5 percent Buyer's Commission , they made 46,800.00 off of your purchases, plus whatever commission they charged the sellers. I bought one item (for significantly less) during one of their weekly auctions, paid within 10 days, and was charged interest beginning after 7 days.

 

Actually, I spent in excess of $2,000,000 with them between 2003 & 2005. But they made it pretty clear they could care less. I think their thought process is if their business practices causes a few people not to do business with them anymore, they will still have other people bidding on the auctions anyway.

 

I truly think they overcharge quite a few people on interest. I personally find it surprising that they are even allowed to say "your first payment is due on November 1st, but we are going to go back and charge you interest as of October 15th". They literally start charing interest before people even get their winning invoices sent to them. But I'm no accountant so I have no idea if practices like these are common or not.

 

But given some of Heritage's other business practices I guess i'm not that surprised that they'd try to squeeze every last cent they can.

 

Are you Ron Perlman's son? I am just curious as to how someone my age (early-20s) can purchase $2 million dollars worth of books in a two-year span.

 

If you don't want to answer, that's cool.

[Filter81]

As far as I know I'm not related to anyone rich or famous. Just lots of buying and selling, and taking out loans, and buying on credit etc.

[Psiknight]

As far as I know I'm not related to anyone rich or famous. Just lots of buying and selling, and taking out loans, and buying on credit etc.

 

It would have been cool if you were related to Ron Perlman.

[Rob]

Does GPA add the 19.5% to the price they record? I mean, if I bid $3000 on this book, it's because I'm willing to pay 19.5% more than that for it ($3585), which would be a GPA record. I want credit for that.

[Psiknight]

Does GPA add the 19.5% to the price they record? I mean, if I bid $3000 on this book, it's because I'm willing to pay 19.5% more than that for it ($3585), which would be a GPA record. I want credit for that.

 

 

Yeah, they do. The final price recorded by GPAnalysis is the price with the premium included.

[tth2]

Give Marti Korver of Heritage a call, I'm sure they'll work with you on this, particularly if your final amount is close to $2400 and you're actually going to pay within 2-4 weeks. You might not even need to go on payment plan at all, which entails charging of interest. Just tell them you plan to pay in 2-4 weeks, and I'm sure if you can pay 30-50% right away, they'll be okay with the remainder being paid within 30 days without even charging you interest.

 

Good luck with this!!! I spent $240,000 with them in an auction last October. I called the accounting/credit department and told them I would be paying them in full within a month, and that I did NOT want to go on the payment plan. I was told this would be fine and I would not be charged interest.

 

Within 30 days of when the initial payment is due, I paid Heritage in full for the invoice. I was charged the full amount of interest anyway. (I was told that the people in the accounting/credit department didn't have the authority to say what they said.)

 

Not only that, but I was charged interest going back all the way to the day the auction ended. (Even though invoices letting me know what I had won didn't go out until a week to a week and a half after the auction. And even though the first payment isnt even due until 2 weeks after the auction ends) That may not seem like a big deal, but 2 weeks of extra interest at 1% a month of $240,000 adds up to quite a bit of money.

 

On top of this, they recorded my payment as being received 2 1/2 weeks after it was. And they even charged me interest for an extra 2 1/2 weeks after my final payment was made. When I refused to pay what I didn't owe, they continued to charge me interest on the interest I didn't owe until I agreed to pay it. (I was told that if I was overcharged I should pay the full amount anyway in good faith and then go about trying to get a refund.) They even went so far as to say if I didn't pay the extra amount they'd go back and calculate what I owed them using 18% interest on the full $240,000 instead of the agreed-upon 12%.

 

If you try to work out something w/ Heritage, make sure you get whatever they agree to in writing, signed by a president of the company. Because the word of one of their employees means nothing.

Dunno what to say. Your experience is very different from what mine have been.

[tth2]

I bought one item (for significantly less) during one of their weekly auctions, paid within 10 days, and was charged interest beginning after 7 days.

I'm not sure I've ever paid within 7 days, and I've NEVER been charged interest.

[Rob]

Yeah, that does suck. However, I'm not worried about paying interest. I'll pay the interest. I just want to be able to do the EPP. Just need a few weeks for my funds to be deposited into my account. If it ends for less than $2500, I guess there's a few more days to win something to make up the difference.

 

I never thought I would hope a comic would go for more than a certain amount. If I had the cash on me today, I would hope I could get it for less. I just want to splurge with this money, and this is my holy grail, which happens to be for sale weeks before I have the cash.

[tth2]

Yeah, that does suck. However, I'm not worried about paying interest. I'll pay the interest. I just want to be able to do the EPP. Just need a few weeks for my funds to be deposited into my account. If it ends for less than $2500, I guess there's a few more days to win something to make up the difference.

 

I never thought I would hope a comic would go for more than a certain amount. If I had the cash on me today, I would hope I could get it for less. I just want to splurge with this money, and this is my holy grail, which happens to be for sale weeks before I have the cash.

Well, based on Filter's worst-case scenario, it sounds like you CAN pay late, and the interest is pretty much the same as the EPP interest rate. I doubt Heritage would cancel the transaction if you paid sometime within 30 days or so. So perhaps you should revert back to hoping for the price to remain low.

[jimjum12]

You probably won't even get the invoice for over a week.I doubt you'd even cause them a ripple if you took 3 weeks.Just email them after you get the invoice and tell them when to expect payment.They're pretty cool.I remember one time I FORGOT that I had bid on a book,won it and received it in the mail at my old address.It sat there for 2 more weeks for a total of a month.Man,was I embarassed .They were understanding,but needless to say,no more books before payment received.GOD BLESS...

 

-jimbo(a friend of jesus)

[Rob]

I'll try that, thanks!