No wonder Heritage Auctions premium is so high!

They get a discount as do all big shippers

 

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Corporal, is this what you meant?

an·no·tate
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verb
past tense: annotated; past participle: annotated

1. add notes to (a text or diagram) giving explanation or comment.
   "documentation should be annotated with explanatory notes"

Drop and give me 50 !!

 

I have never bid on anything in my 73 years. (Oops! I forgot a house and the owners stuff, I bid on a box of Louis L'Amour paperback books. I won the bid of $20 for almost every book L'Amour had published.) Anyway, other than that auction and yard sales, I have never bought anything through an auction. A couple things I would like to know. First, how can I get on the list of Auction Houses to get books of things in the Auction? The other thing I would like to know, are there any books that can educate me about auction's do's and don'ts. I am sure their are approved guidelines to participate in an auction. Other than a library, where could I get some guidelines on proper etiquette that can teach me how to participate in an auction.
One of my collections, is to collect mailed announcements concerning coin collections and sales. I keep a binder of all the documents that I get concerning a coin show, especially from the U.S. Mint. The one I got in 2019 concerning Apollo 11 is a really good one. They spared no money documenting the information about all the coins and other things related to Apollo 11.
Anyway, I would really like to get on Auction Lists to see what is available.

 

For a quick starter, simply google search the phrase " How to buy at auctions. "
Then read the answers. Those should help you to refine your search.
Be aware that every auction has slightly different rules and fees.
Most auction companies are controlled by state agencies, who set the basic rules an auction is run by.
Request a copy of your state's auction guidelines.

 

So, you like your toilet paper like Clint Eastwood, don't take crap off anyone?

 

Well Winter is coming in fast (well not here in Phoenix AZ) but up North it is. you will need something the put into the fireplace to start the logs.

 

Winter is good. I live in the north and there is nothing better to wake up in the morning and see a foot of snow. All nice and white and fluffy. Crank up the snow blowing and time for fun. Ice storms not so much. Those can be tuff. Your not going anywhere and hope the power lines hold up. However, the power companies usual make quick repairs. The other thing the power companies will do is to go on every street in town an cut any tree branches away from the power lines. They're doing it right now. This is also a great time to get your collection in order. Fire up the wood stove and crack open an auction catalog and look for my next prize.

 

Yep, so it must work for them or they would not do it.

 

Exactly. They sold over 800 million in 2019 before markets caught fire. They wouldnt do the catalogs if they didn't think it was a net positive. Between all their categories they probably have a very low cost per catalog and certainly have a shipping discount possibly a significant one. Some companies pay something like 30 cents on the dollar for their shipping costs

 

In my day, it was 100.

 

Heritage has a level of coins that are typically well above eBay levels. It is very very hard to find coins that are auctioned on heritage at this quality on eBay. Ebay seems to tap out around $3000 to $4000 on coin auctions. There are many rare coins that you will never find on eBay but find a plenty on heritage. It’s just a matter of selection and quality. Are you looking for options on certain levels of coins you’re not gonna find them on eBay. If there’s even one pattern on auction on eBay it’s usually a low level proof that sells in the above noted levels. Don’t get me wrong Ebay is great if you’re in the market of around $50-$1000 however once you start talking about mid to high level four Or five digit coins Auctions Ebay falls to the side. Just my own personal experience.

 

Thanks for your reply.

 

It is true that large shippers get special rates (the company I worked for is one of the largest in North America and our rates were dramatically lower than what a person or small company would be charged (discounts of 50% and more were common).

 

I'll tell you something. When one sifts through all the croooked dealers, fraudersters, overpriced ropoff artists, artifical toners, fake and counterfiet coins, manipulated patinas, and stolen goods in the coin business, what you realize is that over time the fees that one spends on Heritage auctions, as exhuberant as they are, not only even out, but one is at least dealing in a well informed market.

What is the percentage of purchases that one makes on ebay, vcoins, ma, etc where the coins end up with issues? 10% ? 20%? Even when buying coins at shows and from dealers? Every deal is a risk. Heritage very much largely flattens that risk, and that is why people fork over the fees, and spend money on grading. While it is not perfect, the benefits over the open market are obvious and monetizable. And you happily pay a premium so that when you can bring the coin home and have the emotional joy of a researched purchased not poisoned because the seller is more proficient at perpetrating fraud than you are at catching it. It is a losing game that consumers shouldn't have to deal with, but it is ubiquitous in the overall market. Heritage gives a major level up for the consumer.

 

The Heritage Auction books are great sources of information and commentary on more expensive, high-end coins (like Saints).

Much of that information is now available online in the HA archives.