Brand New To Coins. Bought 1807 $5. Questions. - Page 3

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BH1964 Bedrock of the Community United States 10982 Posts	Posted 10/10/2016 09:31 am Quote: If the coins in example are not in the multi-six figure and into to the seven figure range. I doubt that HA or DL are splitting fees on $40K coins with the seller. Although I will call and ask today and report my findings later tonight. Again you are wrong. Ask any major coin dealer. Heritage's 17.5% buyer's premium was $7k here. Of course they'll split that with the consignor. ANA #R3154474 Report this Post to the Staff
dsfreeworld Pillar of the Community United States 4337 Posts	Posted 10/10/2016 1:29 pm Quote: Again you are wrong. Okay, I spoke to Heritage today, twice. I called and spoke to two different people who are in the coin area in TX. They said, without any question, they would not offer a negative fee to the seller (i.e., splitting the buyers premium) until the consignment reaches multi-six figure. I asked specifically about this coin and any coin in the $50,000 range and I was told, TWICE, at BEST they would negotiate the reduction of the 10% sellers fee. Would you like to know the names of the employees, time of the call and their extension so you can call and ask as well? I am also happy to PM you my number, you can call me and we can conference and ask together. I have a lot of respect for you Brad as you've been very insightful over the years of our CCF forum exchanges and I'd appreciate being afforded the courtesy of NOT being told I am a fountain of misinformation when I have done my due diligence. Thank you Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 10/10/2016 8:50 pm I'll just let this topic go after a final comment. Perhaps I was harsh in describing the situation but: Heritage is like any business and all fees are negotiable. Of course they won't adjust them hypothetically for a caller inquiring about them. I know of large dealers who always get more the than hammer price at Heritage auctions and anyone submitting a large consignment should never pay a seller's fee at the very least. ANA #R3154474 Report this Post to the Staff
Steele Pillar of the Community United States 1119 Posts	Posted 10/10/2016 10:23 pm Quote: The "Numismatic" value of the coin should not include a 17.5% fee that the auction house adds to the coin to cover their aspect of the transaction. You really think that is an accurate reflection of the value of the coin? why not? If I am paying it I include it the value. it not like bidders are unaware that there is a buyers fee added on. if there is no buyers fee I would bid 17.5percent higher Report this Post to the Staff
PAC Valued Member United States 130 Posts	Posted 10/10/2016 11:24 pm Quote: The "Numismatic" value of the coin should not include a 17.5% fee that the auction house adds to the coin to cover their aspect of the transaction. You really think that is an accurate reflection of the value of the coin? By this logic may I take the Red Book, numismedia FMV or even an ebay hammer and add fees to come to the "true Numismatic value" of the coin? Do I add 17.5% to Red Book? Can I add 13% to my ebay sales and email my buyers and say "FYI, your coin you just won for $100 is actually worth $113 because of the associated fees? I mean why not? Your logic dictates this is the proper way. The 17.5% buyer's premium is definitely included in the numismatic or fair market value. Your two examples are completely different. The fair market value is the price a buyer is willing to pay. The fact that you as a seller pay fees to ebay does not impact the amount a buyer is willing to pay (even though it may impact the amount how much you ask for). Buyers will be factoring the buyer's premium into their bids. If there was only a seller's premium and no buyer's premium, I guarantee you people would bid higher on items. Edited by PAC 10/10/2016 11:29 pm Report this Post to the Staff
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