Heritage auctions a joke

[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.

[oldjudge]

There is no web site more transparent than Heritage. Every bid shows what your bid is both with and without the buyers premium. The solution for the OP is easy. If you don't want to pay the fully disclosed charges in the future, don't bid. My guess is that somehow Heritage will make it through without you.

[Catsavior]

First off greetings to everyone as I am a fairly new member and have not yet made a post. I do surf the pre WWII forums since I collect T206 and other oddball old stuff. I buy from many auction houses and I think Heritage is the only one that uses a flat buyers premium up to a certain dollar amount that then switches over to a percentage. All they are doing is protecting the profits, which is all fine and dandy.

My issue is with the shipping. Yes the packaging will be the only thing left if a nuclear bomb falls on my house, but they are still making a nice tidy profit above and beyond the buyers premium. I looked through some old invoices.

Auction House Date Card Quantity Value Cost for Shipping
Heritage 5/30/17

[Catsavior]

First off greetings to everyone as I am a fairly new member and have not yet made a post. I do surf the pre WWII forums since I collect T206 and other oddball old stuff. I buy from many auction houses and I think Heritage is the only one that uses a flat buyers premium up to a certain dollar amount that then switches over to a percentage. All they are doing is protecting the profits, which is all fine and dandy.

My issue is with the shipping. Yes the packaging will be the only thing left if a nuclear bomb falls on my house, but they are still making a nice tidy profit above and beyond the buyers premium. I looked through some old invoices.

Auction House Date Card Quantity Value Cost for Shipping
Heritage 5/30/17 1 $126.00 $10.30
Heritage

[Catsavior]

Sorry for the double post and cut-off
Heritage charged me $8.00 to ship two cards value at $74.00 on 5/15/17. On 7/16/17 they charged me $12.65 to ship one card value at $52.00. On 10/28/17 Sterling charged me $18.00 shipping for twenty-nine card value at $1200.00. Both auction houses packaged well and the stuff got here quickly. To Heritage's credit they do list everything on website. You just need to be careful when calculating the total value of a bid.
Michael Schlegel

[sflayank]

1st of all the thread is for information purposes only
Those who cant read or understand shouldnt respond
Everyone knows theres a 20 % buyers premium...duh
Show me where it says
Sorry but we need to make money on postage and charge tax on it
Either way not the point
Point is now everyone is aware of the fact...period
To the person who thinks their website is good...congrats...youre a unique person

[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.

[Exhibitman]

Heritage also has a shipping calculator. I won a lot in the last auction and knew going in what the BP was and what the shipping was. The invoice was within a few cents of the estimate that was readily calculated with the info available before I bid. It can't get much more transparent and idiot-proof than that, though I do understand that idiots are quite ingenious.

As for the taxes, again, the AH has to remit the taxes--or you do via the use tax. They don't make a dime on that; it is in fact a big cost center because someone has to track, remit and file returns all across the country for all the sales. Heritage just happens to have facilities in several jurisdictions, so it is obliged to collect the tax. Real convenient when you want to have a rep pick up a big consignment. Not so much if you want to dodge your tax obligations.

[Vintageclout]

Originally Posted by calvindog

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

True Jeff....I guess I was just trying to be nice....LOL!

[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