Heritage Auction Co.

[Speedy]

Hey Y'all

What chance do you think I have of winning a item on Heritage Auction Co. ??

It is the Internet only auction and is a simi key coin to the Cents...and is slabbed by ANACS.

Is it worth the $10 Buyer's Premium--also is it $10 no matter what the price is...I can't seem to find that on the page?


Thanks

Speedy

[cdb1950]

I've bid on several Heritage auctions and won a couple, probably 5% of my bids won. Try it and see. Be sure you check the 'BUYERS FEE' and consider that when you bid.

Good luck!

[Speedy]

Not bad...I have my eye on 3 coins but one is in AG so I might pass up that one.

I'll try to remember and let ya'll know how it turns out.

Speedy

[GDJMSP]

Originally Posted by Speedy

Hey Y'all

What chance do you think I have of winning a item on Heritage Auction Co. ??

It is the Internet only auction and is a simi key coin to the Cents...and is slabbed by ANACS.

Is it worth the $10 Buyer's Premium--also is it $10 no matter what the price is...I can't seem to find that on the page?


Thanks

Speedy

You have as good of chance as anybody. If you bid the market value or above of the coin you'll win - if you don't you won't.

As for the buyer's premium - I believe $10 is the minimum. Standard buyer's premium is 15%. So if a coin sells for less than $67.00 - you pay $10 buyer's premium. If it sells for more than that - you pay 15%.

It seems that everybody is always worried about the buyer's premium on auctions. They act like it is some extra amount or something. Well it isn't an extra anything. It is just part of the cost of the coin. It doesn't matter WHAT amount the buyer's premium is - the coin still cost the same amount.

Say you go to a shop to buy a coin - and the dealer wants $115.00 for the coin. If you agree that this is a fair amount for the coin - do you complain ? No you just buy it.

Now sell the very same coin in an auction - it is no different. The same coin is still only worth $115. So what do you do ? Well you bid $100 and no more. Add in the 15% and you have $115 paid for the same coin. The very same amount as you paid in the shop.

When bidding in auctions, just automatically subtract the buyer's premium percentage from your maximum bid. It's just that simple.

[Midas]

Remember also that their "prices realized" section do include the B.P. This will give you an idea what is the current market prices for the given coin. As stated above, I would bid Heritage like any other auction. You have your ceiling price and hopefully you will not have to pay more than your self-imposed limit.

Since they are Dallas-based, they like to end internet auctions at 9:00 PM CDT. You cannot snipe their auctions like eBay...but I have placed bids a minute or two before hammer and won. Try it!

Also, take advantage of their "My Collection" FREE online software. I have inputed 90% of my certified inventory online with this service. It keeps track of what you paid, the current wholesale pricing (if you had to sell), and how many others have expressed interest in your coin through their "My Want" list.

Good luck!

[Speedy]

GDJMSP---I'm willing to go up higher than what they have been selling for on there so I guess I might have a good chance!!

Midas
I stay up late some nights so I might be able to bid near the time it goes off.....

Thanks again y'all

Speedy