heritage

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Posted By: scott

anybody do business with heritage auctions? is 20% high for a buyers premium?
thanks
scott

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Posted By: Wesley

That is true Scott. 20 percent is high but Heritage takes credit card so that is like getting cards for free for one month.

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Posted By: Wesley

....also my last few transactions were very smooth. Never a problem.

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Posted By: leon

Calculate in the 20% with what you want to pay and base it on that. For instance if a T206 Drum backed gd+ common were bought for $400-$500 it would still be a good deal....Their service was excellent last time I participated in one of their auctions....regards

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Posted By: dan mckee

Please reference this post: http://www.network54.com/Forum/thread?forumid=153652&messageid=1116945478&lp=1116959749

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Posted By: Jeff Lichtman

I'm lost on this one. Why does the convenience of paying with a credit card or paypal alleviate the 20 percent juice? I can think of an easier way to alleviate the juice -- eliminate the juice. 20 percent on the buying end and how much on the sellers'?

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Posted By: Jay Miller

What an auction house charges as a buyers premium should not effect the buyer at all. Figure out what you are willing to pay for a lot and then calculate backwards using the buyers premium to figure out what you can bid. The combination of the sellers premium and the buyers premium reduces the sellers net realization (assuming rational bidding). I don't know what sellers pay Heritage but given the hefty buyers premium I would hope it is zero or a negative premium(yes, they exist).

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Posted By: Wesley

You will not even need to calculate anything. The website does it for you. For example, if you want to bid $130 on an item, the website will show the following:

$130 ($155.35 w/Buyer's Premium (BP) )

What difference does it make to the buyer whether they eliminate the juice? I am really bad at math, but even I can figure out that the next bid increment actually means the item will cost me $155.35.

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Posted By: Jeff Lichtman

Wesley, I agree--math is not your subject . If you want to bid $130, with 20% juice, your cost is $156. Regardless, I'm still trying to figure out the reason the juice does not cause any pain simply because Heritage lets you pay with a credit card or paypal. I was unaware that these services provide 20 % discounts when you pay with them.

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Posted By: Wesley

Jeff, If it makes you feel any better, the juice is only 19 1/2 percent.

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Posted By: Jeff Lichtman

Damn, Wesley, math may not be your subject but reading comprehension is clearly not mine. Seriously, these auction houses make 20 percent on both ends? How can anyone complain about ebay's prices with such a fleecing going on in the auction houses?

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Posted By: David Vargha

Like Jay said, as a a buyer, who cares? I always bid figuring the total price with the vig. I won the Willard's Chocolate Babe Ruth in that auction and was pleased to see that it wasn't shilled up to my max. I was very happy with them.

DavidVargha@hotmail.com

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Posted By: Wesley

I agree with you 119 1/2 %, Jeff. But the fleecing is on the consigner side. I certainly would think twice about consignments to an auctionhouse with fees that high.

As a buyer, I just factor the fees into my cost and refrain from bidding if it gets too crazy.

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Posted By: warshawlaw

Just factor the juice into your max bid.

Heritage has a lovely web site with enlargeable photos and they calculate the total price for you right there with the bid so you don't even have to do math.

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Posted By: dan mckee

My Mastercard gives me 2% cash back, so my juice is immediately taken down to 17.5% Also, I have the added protection of my credit card company should something go south with the transaction. Last but not least, using my credit card buys me an extra 30 days to pay free of charge. This helps as I am not independently wealthy unlike many others. Dan.

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Posted By: Jeff Lichtman

Dan, with all respect, the use of a 2 percent rebate credit card and the ability to pay in 30 days hardly reduces a nearly 20 percent vig. I agree that we all factor the juice into our bids but I hardly think that the use of a credit card does much to alleviate the fees. I honestly cannot think of a reason why anyone would consign with one of these online auction houses and pay 10 or 20 percent on top when ebay is there for the choosing. I've compared prices on similar items and ebay holds up just fine with Heritage, Mastro and REA -- and doesn't charge 20 percent juice. All that being said, the reason I buy from Memory Lane, Lelands, Heritage, REA, Mastro, etc. is simply because they get some great items which are not always available on ebay. As for ebay, when you pay with paypal you can get protection from just paypal and your credit card co. if something goes wrong...