Bowers/Stacks raising buyer's Fee

[Walkerfan]

I did also James. I had all of the auction catalogs that I bought from or sold through and some other major sales stacked floor to ceiling in my closet. This grouping went back 12 years. I decided that this had to end and kept a couple of the catalogs that were important to me and recycled the others. I must admit that I felt better when I was finished. Most of these catalogs are archived online anyhow.

 

I'm running out of room for all of mine----I may have to do likewise.

[Conder101]

I've used printed catalogs and I've used the online versions. I still find it much easier to use the printed catalog than the online versions. And anything less than a high speed broadband access connection in it becomes infuriatingly frustrating to try and browse the catalog. Even with a high speed connection you still have the problem that often you can only see one lot at a time. Sorry but don't stop the printed catalogs. On the other hand they may not have to be the super high quality they have risen to over the last ten years. What they need to be is good enough for you to get a fair idea of what the coins are like and to pick out those pieces of interest. Then the high quality images can be specifically reviewed on-line.

[breakdown-migration]

Theycould just charge for the catalogs. In my opinion, SB is quite important because they represent the only competitor that can possibly go head-to-head with Heritage (no disrespect to Goldbergs who are more a niche player) but they continue to lag Heritage in many ways.

 

I hope I am wrong but I'm afraid we're on an inexorable path to 20 % by both auction houses and we will hear that that percent is in line with other collectibles. And because that is a move directed to regain some of the profit that has been shared with consignors, those consignors will necessarily need to consider other options. Like GreatCollections or consigning directly with dealers.

[Oldtrader3]

Other collectables require vast square footage of expensive HVAC that rent also has to be paid on. Your average slab can be stacked in a plastic storage box of 20 and have several boxes on one shelf in storage in your safe. Some of the largest precious stone traders in the world operate out of a hole in the wall in N,Y. Amsterdam, or LA.

 

I agree that maybe there are ways to prepare a less expensive catalog. Even I have a Broadband modem and large screen for pictures and I am not coin a dealer and I am retired. Maybe you don't want that capability on a handheld. For me, the catalog seems to be a security blanket that is a very expensive accomodation and I would rather not even get because I eventually throw it away. Catalogs are easier to thumb quickly but cost is king. Plus when I thought about it, the catalogs only have pictures of their most expensive coins.

 

 

[physics-fan3.14]

Well, I wish they would stop sending me the catalogs! I just got a knock on the door, and a giant box of catalogs just arrived. Not just one or two - a whole box of assorted catalogs for upcoming auctions.

[Walkerfan]

Well, I wish they would stop sending me the catalogs! I just got a knock on the door, and a giant box of catalogs just arrived. Not just one or two - a whole box of assorted catalogs for upcoming auctions.

 

Me too and one catalogue was dedicated entirely to currency----I don't even collect currency at all!

 

Like already stated some of the coins that I'm interested in are not even shown in the printed catalogues and I must go online anyway.

[PerryHall]

If you don't want the cataloges why not call them and tell them to stop sending them?

[leeg]

Stacks/Bowers is number 1 when it comes to my series of choice.

 

That would be: The Classic Commemorative series.

 

They are just about the only ones who find, and auction, original holders and other ephemera in this series.

 

(thumbs u

 

 

As far as the buyer premium,

 

no big deal, adjust your bid's accordingly.

 

 

[Walkerfan]

OK for the buyer but the seller takes a big hit.

[Oldtrader3]

I also have noticed that Heritage has widened their bid increments to higher amounts (i.e. $30 per bid over $300.

[Raisethis2]

Like so many businesses in America, customers and what they might want becomes secondary to making a buck. As a seller, giving up 17 1/2 % of a $500 coin (as an example) practically kills any equity you might have built in that coin by holding it for a long period. To then see that the buyer too has to shell out a similar amount really shows who's making the big bucks.

 

There are enough really quality auctions listing exquisite coins at lesser prices and premiums that big money can be saved shopping around. The "bigs" need a good old fashion wake-up call.

[James_OldeTowne]

If you don't want the cataloges why not call them and tell them to stop sending them?

I can answer this question: because it's an "all or nothing" decision.

 

For example, out of the blue, I received three catalogs from Stacks/Bowers Friday. They were for Chinese coins?!?! I have zero interest in these whatsoever. However, I didn't mind receiving a couple of previous catalogs for U.S. coins. So my choice is to either get zero catalogs and miss a few that I might want. OR, I can get all the catalogs and let S/B kill a bunch of trees just so I can keep a hit-and-miss catalog once in awhile.

[leeg]

Printed catalog's have value.

 

At some point in the future, someone will ask for it.

 

I used to get every Heritage Catalog. Now I get none. I do get Stacks/Bowers catalog's but it's usually a week after the sale because they send it to my old address. I have told them my new address but I guess that's not important.

 

[MarkFeld]

Like so many businesses in America, customers and what they might want becomes secondary to making a buck. As a seller, giving up 17 1/2 % of a $500 coin (as an example) practically kills any equity you might have built in that coin by holding it for a long period. To then see that the buyer too has to shell out a similar amount really shows who's making the big bucks.

 

There are enough really quality auctions listing exquisite coins at lesser prices and premiums that big money can be saved shopping around. The "bigs" need a good old fashion wake-up call.

 

While the buyer's premium is being raised to 17 1/2%, sellers don't (also) pay 17 1/2%. Some sellers pay no additional commission and some even get back part of the buyer's premium, by being paid more than 100% of hammer by the auction house.

[Oldtrader3]

Most sellers, if they are selling coins not bought from Heritage, will pay about 5% commission. It is all negotiable and based on the volume of business that you do with them.

 

The "bigs" in every industry seem to lose customer facing abilities as they get big.

[Oldtrader3]

I am reopening this thread because I have a couple of dissatifiers, specifically with Heritage and some of their policies and some annoyances. Heritage sent me an invoice the morning, 12 hours after the New York Signature Auction closed on March 11, which I paid by CC immediately. This is expected.

 

I got two more invoices in the two days following my payment on both March 13th and 14th asking that I pay immediatey or my coins won't be shipped. This is somewhat annoying after I have already paid and Heritage had already acknowledged receipt of my payment. This is called "dunning" customers.

 

Then my invoice went into hyper space the following Monday as it no longer open and no longer easily found as they are calling it a completed order dispite the fact that they have not shipped the coins yet. The order is not completed until they have shipped! They are now making it hard for me to trace my coins and find out what is going on.

 

Heritage is slow to ship and slow to pay. I have received my money and or coins faster from several other venues after sales and they are always faster than Heritage. Big is not always better!

 

There were 3600 lots in this auction and I wonder how many were actually combined and shipped versus being picked up and or combined with other lots. I feel that Heritage does not take their small customers seriously sometimes. They have many employees, maybe they need more customer service people to ship orders in a timely manner?

[Lastufka Collection]

OT3, feeling your pain, the same thing has happened with my invoice. No tracking. No info. And it's "completed", but the coins are not here and I paid immediately after the invoice posted. Actually plan on calling them today if nothing arrives in the mail.

[physics-fan3.14]

I guess I've had a bit of a different experience with Heritage, OT3. They have always been quick to ship, and never had a problem getting my items expeditiously. I have sometimes received a paper invoice in the mail several days after paying on the website, but I attribute that to snail mail taking so long to get here.

[James_OldeTowne]

I got two more invoices in the two days following my payment on both March 13th and 14th asking that I pay immediatey or my coins won't be shipped. This is somewhat annoying after I have already paid and Heritage had already acknowledged receipt of my payment. This is called "dunning" customers. Then my invoice went into hyper space the following Monday as

I feel for you, but consider another possibility. It might also be called a "computer glitch", if that is what happened instead. Unfortunately, these things happen, which leads to my next point....

 

Heritage is slow to ship and slow to pay. I have received my money and or coins faster from several other venues after sales and they are always faster than Heritage. Big is not always better! ...Heritage does not take their small customers seriously sometimes.

My experience has been roughly 50% similar. I have found Heritage is usually very quick to ship coins, but agree that they are not the fastest to pay consignors, not by any means. That being said, as a small customer myself, my experience has been quite reasonable with regard to responsiveness to my occasional (and small) business transactions and questions.

 

I hope you are able to resolve any problems successfully. At the risk of spamming myself, you might want to give Scotsman a try.

[jom]

I've received invoiced after I paid on numerous occasions over the years from Heritage. So I don't think it's a computer glitch.

 

At least they stopped sending me 20 lbs of catalogs before every auction even after I asked them not to....

 

jom

[James_OldeTowne]

I've received invoiced after I paid on numerous occasions over the years from Heritage. So I don't think it's a computer glitch.

You haven't seen their computer .

[Oldtrader3]

Actually, they do this to me about paying every auction after they have been paid, so it is not a glitch. I just have been ignoring the annoyance. Usually, in smaller auctions, Heritage does ship pretty fast and do let you know a tracking number right away. I do not know what happened this time.

[jom]

Actually, they do this to me about paying every auction after they have been paid, so it is not a glitch. I just have been ignoring the annoyance. Usually, in smaller auctions, Heritage does ship pretty fast and do let you know a tracking number right away. I do not know what happened this time.

 

According to Heritage their "computer" must have lost power when the chipmunks that run for the power died of exhaustion. New replacements have been ordered.

 

Sorry for the inconvenience.

 

 

jom

[Oldtrader3]

It is ok Jom, I have done business with Heritage since......... Not much surprises me anymore.

[copper toning]

I just pay and do not worry about it. The coins always come with in 10 days. Ignore the messages.

[truthteller]

In the last 10 years, I have never had to pay a Heritage invoice first. My credit line is small compared to others, yet they ship quickly and allow me the privilege of paying after I get the lots.

 

 

TRUTH

[James_OldeTowne]

In the last 10 years, I have never had to pay a Heritage invoice first. My credit line is small compared to others, yet they ship quickly and allow me the privilege of paying after I get the lots.

Ditto. It is a kind privilege, and I don't know what I did to earn their trust, other than to have always paid in a timely manner.