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 Replies: 10 / Views: 2,682 |
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Valued Member
United States
338 Posts |
I recently registered on the Heritage Auctions site after reading a post in my thread on Bust Dollars. I read the rather lengthly explanation of bidder premiums. For coins/currency, the bidder/buyer premium is 17.5%. Please help me with the math. If I am bidding $1000, I would pay $1175. And, at a bid of $2000, I would pay $2335. Correct? Or, is the 17.5% premium factored into the bid?
This is all new to me so please excuse the naive questions. Does the seller also pay an additional premium? I could not find that in the explanation. And finally, as a bidder, are you required to have adequate funds in escrow to cover your bid? Or, how do you qualify to bid?
Thank you in advance,
Michael
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Pillar of the Community
7234 Posts |
Yes, you pay another 17.5% ontop of your winning bid.
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Bedrock of the Community
United States
10982 Posts |
Yes, your bid of $1000 results in a $1175 total + S&H which can get expensive on higher dollar coins. When you bid there will be a notation stating the total (with Buyer's Premium) below your entry (bid). I've paid up to $40 for delivery from Heritage and it can go higher than that with large purchases. Totals over $2500 require a cash form of payment as well.
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Valued Member
 United States
338 Posts |
Does the seller pay a similar premium? If so, as a seller, you would need to account for a premium in your reserve.
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Pillar of the Community
United States
1316 Posts |
Yes, the seller pays a premium too. Heritage isn't in the business to be cutting anyone deals here. They have one of the largest databases of buyers in the world to market coins to.
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Pillar of the Community
 United States
4593 Posts |
When you place your bid, both #s are given to you - the bid value and the total amount. Pay attention!
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
7375 Posts |
.....and pleeeease don't forget about sales tax if you live in one of the states that Heritage has corporate offices, like TX, NY, CA, and maybe a couple of others.
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CCF Advertiser
United States
1533 Posts |
Its not complicated. Bid $1,000, pay $1,175 + S&H. S&H can run around $15. You don't have to worry about any sellers premium unless you sell. Seller's premium run from 0 - 10%. I have coins HA has said they will auction for me with no seller's premium at all.
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Pillar of the Community
United States
1316 Posts |
I think Heritage is now applying sales tax in all states that have it. I'm in FL and they do to me.
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Valued Member
United States
338 Posts |
I'm in Florida too. It seams like there are a lot of hurdles to overcome or at least a lot to consider when bidding. But, I guess that adds to the excitement (and anxiety). I'll give it a shot since I love early Dollars. It's only money!
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Pillar of the Community
United States
7375 Posts |
They have an office in Palm Beach, FL
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Replies: 10 / Views: 2,682 |
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Posted 04/13/2017 1:35 pm
