heritage auctions

[rex]

looking for input about heritage auctions. would like to hear some comments from people who have used them. thanks.

 

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[Mackaydon]

REX:
Don't just send in your item to be auctioned and await the results-thinking that you're getting the best 'bang for your buck'. simply because of their good name.IMO, you are not.
Suggestion: Do your own research on the 'auction-bound' item first. Have a good idea of what the item should sell for--at a minimum. Find potential buyers yourself and offer the item to them at a price you would accept. If no 'takers', make sure Heritage sends an auction catalog to each of those people who you think may have an interest. Follow up with those people to verify they received an auction catalog. Be prepared for Heritage to suggest to you a 'low ball' opening bid--to create immediate interest among the auction buyers (That is part of the 'game' and is an acceptable practice.)
Don.........

 

[rex]

REX:
Don't just send in your item to be auctioned and await the results-thinking that you're getting the best 'bang for your buck'. simply because of their good name.IMO, you are not.
Suggestion: Do your own research on the 'auction-bound' item first. Have a good idea of what the item should sell for--at a minimum. Find potential buyers yourself and offer the item to them at a price you would accept. If no 'takers', make sure Heritage sends an auction catalog to each of those people who you think may have an interest. Follow up with those people to verify they received an auction catalog. Be prepared for Heritage to suggest to you a 'low ball' opening bid--to create immediate interest among the auction buyers (That is part of the 'game' and is an acceptable practice.)
Don.........

thanks for the info. the item i am selling is a coin. if i get it graded i might be better off selling it on ebay, yes?

 

[jeff of pa]

although I've never used them, it seems to me, Unless you have the coin to end all coins,
or at least close to it people like Heritage earn too much.



they Make a % off you when your item sells,
they also make a % off the buyer with a buyers premium.
and since bidders bid accordingly, it's like taking from your pocket Twice.
maybe 3 times if there is a non refundable set payment to try to sell it.
even if it dosent sell.

Perks are if you have a mint condition coin worth 3 Million,
Every coin buyer with $3million will know

So tuff call on small deals

 

[Mackaydon]

Putting it up on Ebay creates another advantage: quick sale--versus maybe having to wait several months for the auction sale. But if your coin (after professional grading) is obviously very valuable, then waiting for the auction house would be my vote over Ebay.
If you wish, post both sides of the coin here and ask for an opinion of value. That will give you a FREE head start on the sale.
Don.......

 

[rex]

Putting it up on Ebay creates another advantage: quick sale--versus maybe having to wait several months for the auction sale. But if your coin (after professional grading) is obviously very valuable, then waiting for the auction house would be my vote over Ebay.
If you wish, post both sides of the coin here and ask for an opinion of value. That will give you a FREE head start on the sale.
Don.......

don, i am not very good on the computer, but if you can look back at my post on may 11 of 2012 you will see the coin i am talking about. thanks.

 

[rex]

although I've never used them, it seems to me, Unless you have the coin to end all coins,
or at least close to it people like Heritage earn too much.



they Make a % off you when your item sells,
they also make a % off the buyer with a buyers premium.
and since bidders bid accordingly, it's like taking from your pocket Twice.
maybe 3 times if there is a non refundable set payment to try to sell it.
even if it dosent sell.

Perks are if you have a mint condition coin worth 3 Million,
Every coin buyer with $3million will know

So tuff call on small deals

yes, they are getting 18% for selling it for me. they didn't mention the other side of the equation. thanks for the info.

 

[Mackaydon]

Rex,
If you are referring to the 1803 1/2 dime (large '8' variety), the 2013 No. Am. guide to Coins and Prices I use (David C. Harper, Editor) gives a retail value for the coin in VG-8 at $1,375 and $2,000 in fine; certainly sufficient IMO to get the coin professionally graded.
Don...

 

[rex]

Rex,
If you are referring to the 1803 1/2 dime (large '8' variety), the 2013 No. Am. guide to Coins and Prices I use (David C. Harper, Editor) gives a retail value for the coin in VG-8 at $1,375 and $2,000 in fine; certainly sufficient IMO to get the coin professionally graded.
Don...

yes thats the one i am talking about. thanks for the good information. i will update on this forum.

 

[GMD52]

One thing to also think about with auction houses. Are they drawing the right audience for you item? Most will run themed auctions, and if large enough, draw the big-time collectors. That's the time to enter a special item like your coin. I've done very well at these special auctions and been badly burned at general ones when no one shows up. The auction I was in last weekend netted me $1000 less 20%, for 35 items. Bad weather and low attendance! Good luck.