i recently became a member of heritage and have no bought anything their !! i see that it seems their is a buyers fee of 14 dollars on every coin you buy is this true or how does it work !
Not so huge. If you buy a 2,000 dollar coin you'd have to pay 350 dollars premium. If you win an auction ending at 1 dollar (just saying), you'd pay 15 dollars total.
The $14 is the minimum buyer's premium. On typical lots, there is a 17.5% buyer's premium. Just read and understand the terms of service and you will be fine.
Most auctions have a buyers premium added to the lot that is a percent of the hammer price in this case it's 17.5% unless the coin is r less than its a $14 minimum this is done to reduce sellers commissions to attract consignments just like heritage charging 0% sellers commission on coins you purchased there if you decide to resell them they still make their money on the buyers premium and it encouraged you to consign with them
Heritage can command rather high prices on their auctions and I sometimes wonder if people forget about the BP. Maybe I'm just cheap, lol. Still, before you bid, Heritage shows you what you're committing to pay, so there should be no confusion. Oh, and don't forget about the shipping...that is another cost you need to factor in.
One good thing about them is when you enter a bid it shows you the total amount right then with buyers premium so the total is right there and you don't have to calculate it and theirs no surprise later most live auctions you just know the hammer price I've been to so many auctions that figureing the premium in is pretty much automatic for me I usually go to and leave bids or phone bid about 5 auctions a week on average (not coin auctions but sometimes there's coins )
Ag agreed they can get some high prices you can never steal anything there do many people cover it but you can get some nice stuff you won't ordinarily find elsewhere if your willing to pay for it shipping usually around $20
Factor that (buyers fee) along with shipping to determine what you feel is the true value of what you're bidding on. Bid accordingly and if you feel these factors make the coin that you are bidding on too expensive or more than you think you should be paying for a particular item, walk away from the computer screen.........
I don't know what you are buying and I am sure expensive coins go for more, but the most I have paid for shipping was about $9.00. They generally use a flat rate envelope for mine.
There is a base charge and then a per-item shipping fee: https://www.ha.com/c/contact-us.zx?ref=&topicId=21#answer
Unfortunately many of the coins I want happen to be in excess of $1000 which is why I'm slowly acqiiring them and it will take many years (if ever) to complete many of my collecting goals tha shipping varies but often if I'm buying less expensive coins I will buy multiples
I have won many items at Heritage Auctions. I do factor the BP into my bids and don't worry about the S&H. They have a very user friendly site to locate exactly the coin you wish to bid on and a pop up view of the coin while browsing the lots. I'm so used to this pop up that I'm disappointed when I go to the other auction houses and have to open each lot to look at the coin. There's so much to like about the site, I find it the best of any auction house. On a regular basis, they have the best selection of coins as well. The only negative is they are slow to ship at times. Also, if your invoice for any auction is over $2500, they do not accept CC's.
They've been good about shipping and I always pay by e check which is a nice feature and they do get the coins I just factor in the bp when I bid I'd say the only knock is it can be tough competition
I would advise anyone to actually read the terms and conditions completely. I can't stress that enough. Too many don't then they complain. Understand what you are agreeing to when you bid.
