Heritage auctions a joke

[Peter_Spaeth]

Originally Posted by Fballguy

Yep...All the things Ebay has to pay for as well.

Volume.

[Vintageclout]

Originally Posted by Peter_Spaeth

Volume.

Exactly Peter!

[Snapolit1]

I buy from Heritage, and still gnash my teeth at some of the charges.

I stay at hotels where they charge stupid things.

I also lease cars where stupid mysterious charges show up on my invoices.

Not happy about them and have no problem telling the powers that be that they piss me off. Freedom of speech lives.

[Snapolit1]

REA.

As a courtesy to bidders, REA will be paying for all packing, shipping, and insurance charges for winning bidders, pro-vided payment is received within 14 days in accordance with section 26 of these terms and conditions, with the following ex-
ceptions: 1) International shipments. If you are shipping to an address outside of the United States, you must pay all packing, shipping, and insurance charges. If you are an international bidder who desires to have your item shipped to a US address, we will gladly do this for you and offer free shipping where applicable. 2) Unusually large or heavy items inherently requiring significant special packing, crat-ing, and shipping (such as stadium seats and large photographic displays). These lots are clearly identified in their respective descrip-tions as requiring special packing and shipping charges. Winners of these lots will be billed for packing, shipping, and insurance charg-es with a separate shipping invoice (to allow us to communicate with winners to be responsive to their shipping preferences).

[Vintageclout]

Originally Posted by Snapolit1

REA.

As a courtesy to bidders, REA will be paying for all packing, shipping, and insurance charges for winning bidders, pro-vided payment is received within 14 days in accordance with section 26 of these terms and conditions, with the following ex-
ceptions: 1) International shipments. If you are shipping to an address outside of the United States, you must pay all packing, shipping, and insurance charges. If you are an international bidder who desires to have your item shipped to a US address, we will gladly do this for you and offer free shipping where applicable. 2) Unusually large or heavy items inherently requiring significant special packing, crat-ing, and shipping (such as stadium seats and large photographic displays). These lots are clearly identified in their respective descrip-tions as requiring special packing and shipping charges. Winners of these lots will be billed for packing, shipping, and insurance charg-es with a separate shipping invoice (to allow us to communicate with winners to be responsive to their shipping preferences).

With all due respect, ONE Auction house has ultimately decided to absorb the shipping related costs against their revenue. ONE out of the “x” number of a seemingly infinite number of auction houses. I tip my hat to Brian for somehow getting to a level where he can absorb these costs, but that doesn’t make it the standard and/or appropriate practice for a profitable business model. Shipping and handling is a significant cost with regard to postage fees, INSURANCE, and labor costs. I was a Controller at MetLife for 20+ years and perfectly understsnd the rationale for monitoring expenses vs. revenue. Bottom line is the success of any business practice all boils down to their respective earnings results.

[robertsmithnocure]

Originally Posted by Vintageclout

With all due respect, ONE Auction house has ultimately decided to absorb the shipping related costs against their revenue.

Any of the auction houses can absorb these costs if they want to. Assuming that buyer's premiums are equal, the auction houses can just make it up with their seller's premium. For example, if REA can charge an extra 1% seller's premium across the board in one of their $10,000,000 auctions then I would bet that extra $100,000 more than covers that free shipping.

At the end of the day, as long as the charges are disclosed, then a buyer should just figure out what is the NET number that he is willing to pay for an item and discount that number by the different charges and bid that number.

[T206Collector]

It is very disappointing to learn that I am competing against collectors who do not factor in the BP, S/H and Sales Taxes when they bid. If we both value the same card equally, I will always lose because after the fact the collector didn't realize he was paying more than its worth!

I recently dropped out of bidding on an item in Heritage because the same grade of the same card was available on ebay for less -- but only if you realized that the BP, S/H and Sales Tax was going to push you over that line. And it finally explains why that phenomenon occurs.

[Vintageclout]

Originally Posted by T206Collector

It is very disappointing to learn that I am competing against collectors who do not factor in the BP, S/H and Sales Taxes when they bid. If we both value the same card equally, I will always lose because after the fact the collector didn't realize he was paying more than its worth!

I recently dropped out of bidding on an item in Heritage because the same grade of the same card was available on ebay for less -- but only if you realized that the BP, S/H and Sales Tax was going to push you over that line. And it finally explains why that phenomenon occurs.

+1000. It simply amazes me that there are still collectors who don’t bid according to the buyers premium that is part of the item’s total value/cost. Once again, the buyer’s premium does NOT impact the buyer; it negatively impacts the CONSIGNOR. If there was no Buyers Premium, the hammer bids would simply be 15-20% higher.

[Fballguy]

Originally Posted by Vintageclout

+1000. It simply amazes me that there are still collectors who don’t bid according to the buyers premium that is part of the item’s total value/cost. Once again, the buyer’s premium does NOT impact the buyer; it negatively impacts the CONSIGNOR. If there was no Buyers Premium, the hammer bids would simply be 15-20% higher.

False

It's not part of the total cost...It's an add on. In almost all cases the item can be had for less on eBay.

[ALR-bishop]

Originally Posted by Fballguy

False

It's not part of the total cost...It's an add on. In almost all cases the item can be had for less on eBay.

Unfortunately in my case this is not the case. If it were I would just be buying on eBay.

[Peter_Spaeth]

Originally Posted by Fballguy

False

It's not part of the total cost...It's an add on. In almost all cases the item can be had for less on eBay.

That is completely false in my experience. PWCC holds half the highs on commodity cards I would bet.

[Vintageclout]

Originally Posted by Fballguy

False

It's not part of the total cost...It's an add on. In almost all cases the item can be had for less on eBay.

With all due respect you are 100% incorrect. Fur example, if a card is worth say $100, a collector typically bids roughly $80 because they know with the BP they will be paying close to that $100 value. If there was no BP (like eBay), they would bid up to $100. That is COMMON knowledge, and I would estimate that at least 90% (conservatively) of Collector’s realize that concept.

[insidethewrapper]

I agree, with all the money they pull in , you would think they could design a website which is easy to understand and use. So confusing.

[calvindog]

Originally Posted by Vintageclout

With all due respect you are 100% incorrect. Fur example, if a card is worth say $100, a collector typically bids roughly $80 because they know with the BP they will be paying close to that $100 value. If there was no BP (like eBay), they would bid up to $100. That is COMMON knowledge, and I would estimate that at least 90% (conservatively) of Collector’s realize that concept.

Joe, you're being kind on that 90% figure.

[Forever Young]

Originally Posted by Vintageclout

+1000. It simply amazes me that there are still collectors who don’t bid according to the buyers premium that is part of the item’s total value/cost. Once again, the buyer’s premium does NOT impact the buyer; it negatively impacts the CONSIGNOR. If there was no Buyers Premium, the hammer bids would simply be 15-20% higher.

Agreed

[ibuysportsephemera]

The BP is known and experienced bidders factor the cost of the BP into the final amount. My problem with almost all of the AH's is the outrageous S&H that most charge. These are the unadvertised charges that seem arbitrary and really drive up the cost of bidding. How about at least giving us a range of your S&H fees, so it is not a surprise after the auction is over?


Jeff