Heritage's Next Event Auction has started posting books !
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2,478 posts in this topic

14 minutes ago, Funnybooks said:
 
  21 hours ago, aleksicwon said:

When I first started out , I had this confusion too . But is not correct . The buyer is buying at fair market value . The seller is the one getting burned . Let's say FMV is $500 ( as per GoCollect ) . You are likely to get the book at $500 . The seller however is only getting $417 ( 20% less for commission) . 

I don't know why they call it "buyer's premium" . I think it is a marketing gimmick to hide the fact that the seller is getting burned . It is just commission that seller has to pay .

 

Agree with @Junkdrawer

 

The seller knows what the fees are leading into the transaction to sell on any of these platforms...HA, Ebay, C-Link. ComicConnect...I would hardly say that the seller is getting burned if they willingly decide to conduct business in this manner...

How else would an auction house make money unless they are charging a seller, a buyer or both?

Well , I am going by real estate rates which are like 6-7% . Altogether , would be paying 35% on HA . No way I am doing that . Anyway , I am unfollowing this thread as I am not interested in getting into a debate with you guys . Bye bye .

Edited by aleksicwon
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6 hours ago, aleksicwon said:

Well , I am going by real estate rates which are like 6-7% . Altogether , would be paying 35% on HA . No way I am doing that . Anyway , I am unfollowing this thread as I am not interested in getting into a debate with you guys . Bye bye .

Drive by anytime 

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17 hours ago, lou_fine said:

 

Not sure why there's any confusion here at all, as this has already been explained many times here before.  :facepalm:

With Heritage, there is no surprise buyer's premium added in at the end as all bidders should be well aware of the 20% BP and should have built this into their bid already.  If they haven't, it's really their own fault as Heritage clearly shows you what you will end up paying inclusive of this 20% BP if you hit the Bid button.  

By the way, it's really the consignor who ends up paying both ends of the fees if we assume no special deals negotiated which is usally not the case by the way..  A simple example is that if a book hammers for $1,000 this means the buyer will end up paying $1,200 (i.e. $1,000 plus 20% BP) which is the final price and also the one that shows up in GPA and GoCollect.  Nobody sees the $1,000 hammer price except while the auction is going on and is really an irrelevant number except for calculating the auction fees. 

The Seller's Premiums is usually 15% unless negotiated away or down depending upon the quality of your consignment.  This means the consignor will receive only $850 after deducting for the Seller's Premium (i.e. $1,000 less 15% BP).  Bottom line is that the consignor will end up receiving only $850 out of the $1,200 final sale or FMV as it is the SELLER who ends up paying for both the BP and the SP because this is the sum of the monies that he will not be seeing out of the sale.  :preach:

 

This is correct. I put something in queue yesterday at HA and there was no buyer fee. Just shipping and as always sales tax. So, that time before, I must have been bidding when I thought I was buying. Thanks for pointing it out. I was incorrect.

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8 hours ago, Funnybooks said:
9 hours ago, aleksicwon said:

Ok , so I guess the BP is never negotiated ? I heard this before of course , that the fee is negotiated . I was assuming it was the BP . Did not know there was a SP . Sounds like the seller is stuck with a 20% commission no matter what .

BP is non-negotiable for the most part...Whale status circumstances aside...

SP may be negotiated if you are selling an item/items that are "very desirable" that the auction house must have

Everything is open for negotiation. 

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15 hours ago, tth2 said:

Everything is open for negotiation. 

(thumbsu if you have a nice Action 1 Tec 27 Batman 1 Superman 1 Marvel 1 and want to sell than all the Auction houses will want to get you.:devil:

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On 1/17/2021 at 1:45 PM, Funnybooks said:

The seller fee is negotiable based on the relationship of the seller and the auction house and the quality of the book(s) submitted, so the 20% is merely a starting point. I would suspect this copy of Bat 1 had a very minimal seller fee to no seller fee or better.

This is spot on.  I am no expert by far, but I did have phone con with HA comic book consigner.  I sold books in one of the larger quarterly auctions.  If I continued on a quarterly basis in these types of auctions, I was offered zero SP and a good portion of the BP.

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6 hours ago, Chief1332 said:

This is spot on.  I am no expert by far, but I did have phone con with HA comic book consigner.  I sold books in one of the larger quarterly auctions.  If I continued on a quarterly basis in these types of auctions, I was offered zero SP and a good portion of the BP.

I'm not sure I know anyone who has ever paid Seller's Commission.  Heritage will offer to drop it almost right away, sometimes even before the potential consignor has asked for it.

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Heritage is killing me :cry:

They have a Peanuts Daily coming up in their next auction but haven't posted a scan or date for it.  It has to be a week and counting. :cry:

I know, I know, 1st world problems

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51 minutes ago, Professor Chaos said:

I've decided that no matter what I'm going to get one of those Alfred Pennyworth Bats. Even if I have to steal one. Wouldn't be the first time it got stolen I suppose. No seriously I'm going to get one. 

Round 2 opportunity is coming up on Pedigree’s next auction.  Someone must have thought they got a bargain on them when Heritage auctioned them.

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3 hours ago, batman_fan said:

Round 2 opportunity is coming up on Pedigree’s next auction.  Someone must have thought they got a bargain on them when Heritage auctioned them.

Will be very interesting to see if the books rise or fall. Could easily imagine the books falling, especially if they aren't keys, without HA's publicity machine.

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34 minutes ago, bpc3qh said:
3 hours ago, batman_fan said:

Round 2 opportunity is coming up on Pedigree’s next auction.  Someone must have thought they got a bargain on them when Heritage auctioned them.

Will be very interesting to see if the books rise or fall. Could easily imagine the books falling, especially if they aren't keys, without HA's publicity machine.

I'm sure Doug Schmell will keep the GPA at a high *cough*

Edited by Gotham Kid
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7 minutes ago, bpc3qh said:

So I'm curious, too: do we think Schmell bought these books himself, or are they being consigned?

Good question.  I have no idea but if it wasn’t Doug I am sure the consigner has a reserve on them whether advertised or hidden.

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1 hour ago, bpc3qh said:

Will be very interesting to see if the books rise or fall. Could easily imagine the books falling, especially if they aren't keys, without HA's publicity machine.

The second time around, when they’ve lost their “fresh to market” sex appeal, my bet is they fade a bit

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12 minutes ago, GreatCaesarsGhost said:

The second time around, when they’ve lost their “fresh to market” sex appeal, my bet is they fade a bit

Maybe, though they are still absolutely gorgeous books. I look forward to bidding in this second auction, too, to see if I can snag some (and I'm bidding on the HA books too, fool's errand that may be).

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48 minutes ago, batman_fan said:

Good question.  I have no idea but if it wasn’t Doug I am sure the consigner has a reserve on them whether advertised or hidden.

What we can be sure of is that they will be shilled. 

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