Charges at Heritage

Heritage does NOT make it easy to find this info out.

1. I know on auctions the charges are:
Winning Bid + Buyer's Fee + S&H
What is the Buyer's Fee percentage, 17.5% or 20%?

2. When just buying an item is the total cost ONLY their posted price plus S&H?
No Buyer's Fee, correct?

 

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Do you mean using the "make an offer to owner" function? In that case, there is no BP. Here is the write-up from Heritage:

Heritage retains 10% (minimum $40 per lot) of the total price as its commission (compared with a 12%-25% Buyer's Premium charged on auction transactions), from which Heritage absorbs all credit card/PayPal costs. This service is free to the buyer (no Buyer's Premium), includes a 7 day return policy, with the exception of graded items, and protects the identity of both parties. Because no Buyer's Premium is charged on Make Offer to Owner transactions, auction consignment discount coupons are invalid.

 

I'm not sure why you are having difficulties. The terms and conditions of the auction are linked on literally every auction listing. It clearly states that coins have a BP of 20%.

 

It went from 17.5 percent to 20 percent a few months ago.

 

Expensive platform if you're not careful.......

 

Yeh, that's why I was asking.

For auctions I decide what the max I'm willing to pay on an item, then take 80% of that (a 20% reduction now for the buyer's fee) and then subtract $15-20 for S&H.
The result is my max bid.
Sometimes I win; sometimes I lose.

Thanks for all the responses.

 

For the sort of coins I bid on at Heritage, everyone seems to be taking the 20 percent into account when they bid. Even with that boat anchor around my neck, I’ve still been able to score some recent wins at nice prices. But it adds up quickly.

 

Me too Brother.........

 

Things have really changed with them over the years.

 

I only go to Heritage when I can't find what I'm looking for at GC or eBay.
With GC it's generally that they don't have it.
With eBay it's generally that the seller has it overpriced.

And I don't even look at Stack's.
They tend to be more high end than Heritage which translates to more expensive.

 

@kanga , do you mean Legend vs. Heritage? I find Legend's coins to be mostly out of my league. I have won a few, but it's not common.

I think Stacks has similar coins to Heritage. I think Heritage usually has the overall best selection of material. GC has some good stuff. IMO, their website is a little difficult to navigate quickly.

 

Stack’s has monthly Internet auctions that have many doable coins. It’s their other auctions where the best I can do is sit with my mouth hanging open.

 

The HA commission is easy to find but the S&H is not (at least the last time I looked). Newcomers get easily burned.

Their prices are too high, and customer service is snotty. I try not to use them anymore.

 

Bad maths above. 80% of $120 does not get you back to $100. Think about it.

 

(Rather than multiply by 80%, divide by 120%)

 

That's the difference between a "mark-up" which is what buyer premium is and a margin.