What Is Heritage Auctions About? - Coin Community Forum

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Author	Replies: 7 / Views: 8,079
christian_cyclist Valued Member United States 284 Posts	Posted 12/30/2008 10:57 pm What are "Buyer Premiums" on Heritage auction? Is that their way to weed out the low cost/price auctions? -- Boris Report this Post to the Staff

biokemist6 Bedrock of the Community United States 12437 Posts	Posted 12/30/2008 11:14 pm Heritage is one of the largest and most reputable auction houses around. Virtually all auctions charge a Buyers Premium, it is usually 10-15% but can be higher. And you correct in that Heritage is not really a good venue for lower valued material when you factor in BP and shipping but that is true for most big auction houses. Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 12/31/2008 12:13 am Quote: What are "Buyer Premiums" on Heritage auction? Buyer's Premium = Juice Heritage has to make money too. ANA #R3154474 Report this Post to the Staff
wd1040 Pillar of the Community United States 3098 Posts	Posted 12/31/2008 12:17 am I don't think we've answered his question yet! Buyer's premium means that if you win an auction for $100 bid and there's a 15% premium, you have to shell out $115. Report this Post to the Staff
christian_cyclist Valued Member United States 284 Posts	Posted 12/31/2008 12:34 am So if Heritage Auctions charges buyers 15% then what do they charge sellers? Nothing? That would seem to work opposite of ebay. -- Boris Report this Post to the Staff
BH1964 Bedrock of the Community United States 10982 Posts	Posted 12/31/2008 03:05 am Quote: So if Heritage Auctions charges buyers 15% then what do they charge sellers? Nothing? That would seem to work opposite of ebay. Seller's pay Heritage Auctions a percentage also. I don't know the exact % and it may vary but be sure that the 15% Buyer's Premium is NOT all they get. My guess would be the seller pays a minimum of 15% also but perhaps someone here has more experience and can be more precise. ANA #R3154474 Report this Post to the Staff
rggoodie Moderator United States 23543 Posts	Posted 12/31/2008 08:34 am Quote: What is the Buyer's Premium? A Buyer's Premium of fifteen percent (15%) or nineteen and one-half percent (19.5%) of the hammer price will be added to the successful bid (varies by venue, please see #2 in our Terms & Conditions). There is a minimum Buyer's Premium of $9.00 per lot. #2 Quote: Buyer's Premium: 2. On bids placed through Auctioneer, a Buyer's Premium of fifteen percent (15%) will be added to the successful hammer price bid on lots in Coin and Currency auctions, or nineteen and one-half percent (19.5%) on lots in all other auctions. If your bid is placed through ebay Live, a Buyer's Premium equal to the normal Buyer's Premium plus an additional five percent (5%) of the hammer price will be added to the successful bid up to a maximum Buyer's Premium of Twenty Two and onehalf percent (22.5%). There is a minimum Buyer's Premium of $9.00 per lot. In Gallery Auctions (sealed bid auctions of mostly bulk numismatic material), the Buyer's Premium is 19.5%. Heritage Terms and conditions http://coins.ha.com/common/images/T...nditions.pdf Report this Post to the Staff
JohnE New Member United States 2 Posts	Posted 03/26/2009 11:03 pm What about Teletrade? There's a $8 minimum per lot so if I'm trying to fill some empty spaces in my collection and only find 1 or 2 coins that I win for $9 each I'm actually paying $17 per coin? That's how I'm reading it. Correct me if I'm wrong. Report this Post to the Staff
	Replies: 7 / Views: 8,079

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