Nicholas Posted February 6, 2014 Posted February 6, 2014 I have to admit that the "take 4 months to pay " option at Heritage Auctions is brilliant. It means I can bid on a coin and then sell coin at another auction house to help pay for it. Only problem is there are very few really interesting (hammered) english coins sold at heritage. Wish some of the english auction houses had payment terms... 1 Quote
VickySilver Posted February 6, 2014 Posted February 6, 2014 That's marketing, baby, and Heritage are masters of it! Quote
Accumulator Posted February 6, 2014 Posted February 6, 2014 Not seen that. Very handy, though it could leave one tempted to make that extra bid you can't really afford! Quote
Coinery Posted February 6, 2014 Posted February 6, 2014 That's got to be win, win, for heritage! I bet the vendor doesn't get paid out if the sale falls through? Or maybe the 4-month payment is subject to t's & c's, namely that you have a healthy purchase history with them?You'll be good for 4 month's credit, AC! Quote
TomGoodheart Posted February 6, 2014 Posted February 6, 2014 So [sound of cogs whirring] .. you could buy a coin and sell it at a profit .. and then use some of the money to pay for your original purchase.Very interesting. Quote
Nicholas Posted February 6, 2014 Author Posted February 6, 2014 Entirely possible and BTW vendors are paid on time and independently of whether the buyer takes the extended plan or not. Terms are 25% down up front then you set up the EPP (extended payment plan) for 4 equal payments for the remainder over 4 months. Hence I have definitely bid beyond my means with heritage! So, either start sending some decent hammered to the US or get DNW, Spink, Baldwin et al to set up the same in the UK... Quote
Coinery Posted February 6, 2014 Posted February 6, 2014 Ah, OK, 25% down up front! That would be a reasonable (dare I say, profitable) risk for HA...even I'd back that, a forfeited 25% on fall-out of sale! Hardly a cuckoo manoeuvre! Why haven't the other biggies come out of the woodwork to join the marketing of the 21st century? Quote
Accumulator Posted February 6, 2014 Posted February 6, 2014 That's got to be win, win, for heritage! I bet the vendor doesn't get paid out if the sale falls through? Or maybe the 4-month payment is subject to t's & c's, namely that you have a healthy purchase history with them?You'll be good for 4 month's credit, AC! Is that why my bank manager only lends me his umbrella when it's not raining? Quote
jaggy Posted February 6, 2014 Posted February 6, 2014 Heritage are really very good. Obviously the coins they have are what they are. But the customer service is outstanding, the web site works very well and the photos are always excellent.They also operate as a marketplace. I you buy a coin(s) from them you can fix a price on it and Heritage will act as a conduit if another collector wishes to pay that price. Heritage takes 10% (min. $40). I just sold a small lot which I bought at what I thought was a good price realising a 30% profit after all costs. Quote
Gary1000 Posted February 7, 2014 Posted February 7, 2014 It can also be a dangerous thingWhat like Heritage pushing the prices still higher. Quote
azda Posted February 7, 2014 Posted February 7, 2014 It can also be a dangerous thingWhat like Heritage pushing the prices still higher.Yes that as well but not entirely what i meant. What i meant was perhaps buying Outwith your means thinking you have enough time to pay and/or buying the coin at way over market prices. Perhaps this is why their prices are stratospheric and the reason the market in America for British coins is hyperinflated Quote
Peter Posted February 7, 2014 Posted February 7, 2014 I will not divaldge.Stay in your safe books chaps.Oh the floods are the governments problem.UNBELIEVABLE. Quote
jaggy Posted February 7, 2014 Posted February 7, 2014 It can also be a dangerous thingWhat like Heritage pushing the prices still higher.Heritage doesn't push prices higher. Bidders push prices higher. Up to you to decide how high you want to go. Quote
azda Posted February 7, 2014 Posted February 7, 2014 It can also be a dangerous thingWhat like Heritage pushing the prices still higher. Heritage doesn't push prices higher. Bidders push prices higher. Up to you to decide how high you want to go.Sorry, you should Quote slab buyers push prices Jaggy. Does'nt really help when Heritage start the ball Rolling at an ungoldy amount in the first place either Quote
VickySilver Posted February 7, 2014 Posted February 7, 2014 Well, they certainly facilitate bidder action so they IMO definately contribute. Quote
Peter Posted February 8, 2014 Posted February 8, 2014 If I can't afford it from my wallet I won't buy it.Common sense.(it ain't rocket science) Quote
jaggy Posted February 8, 2014 Posted February 8, 2014 It can also be a dangerous thingWhat like Heritage pushing the prices still higher. Heritage doesn't push prices higher. Bidders push prices higher. Up to you to decide how high you want to go.Sorry, you should Quote slab buyers push prices Jaggy. Does'nt really help when Heritage start the ball Rolling at an ungoldy amount in the first place eitherI bid quite regularly at Heritage but I never overpay. If the bidding gets silly I pull out. Very few of the coins I am interested in are so rare that another example will not come up elsewhere sooner or later. Heritage are a business. They are there to get the best prices and, therefore, the best commissions for themselves. However, part of that business model is to provide an outstanding service, which they do. It is really up to us, the bidders, to determine what prices we are willing to pay. If some people are willing to pay silly prices that is their choice and their money. If Heritage sets a high initial price it is, no doubt, because they know that there are people that will pay it. Quote
Accumulator Posted February 8, 2014 Posted February 8, 2014 It can also be a dangerous thingWhat like Heritage pushing the prices still higher. Heritage doesn't push prices higher. Bidders push prices higher. Up to you to decide how high you want to go.Sorry, you should Quote slab buyers push prices Jaggy. Does'nt really help when Heritage start the ball Rolling at an ungoldy amount in the first place eitherI bid quite regularly at Heritage but I never overpay. If the bidding gets silly I pull out. Very few of the coins I am interested in are so rare that another example will not come up elsewhere sooner or later. Heritage are a business. They are there to get the best prices and, therefore, the best commissions for themselves. However, part of that business model is to provide an outstanding service, which they do. It is really up to us, the bidders, to determine what prices we are willing to pay. If some people are willing to pay silly prices that is their choice and their money. If Heritage sets a high initial price it is, no doubt, because they know that there are people that will pay it.I have to agree with you Jaggy. Heritage are really setting the standards for auction houses in the 21st century and, without realising it, a lot of collectors will benefit from the influx of interest (and, yes money) they are bringing to the hobby. As far as starting prices go, they can't really be wrong a just about every lot sells. Quote
copper123 Posted February 9, 2014 Posted February 9, 2014 A very customer friendly option and i would love to see more companies act like this - the only thing is it might make you bid just a little too much knowing you did not have to pay straight away Quote
Peter Posted February 9, 2014 Posted February 9, 2014 I have one wife (chose carefully ) 3 houses and 3 cars.My Bike is following ,Slippery Sam or Jota Quote
Peckris Posted February 9, 2014 Posted February 9, 2014 I have one wife (chose carefully ) 3 houses and 3 cars.My Bike is following ,Slippery Sam or JotaBoth in the 2:45 at Towcester? I'd say Slippery Sam for sure - he's carrying less weight, did well in the Novices Hurdles, and is a much better price than Jota, who for my money is an overrated bet and his jockey has been recently changed. Quote
Peter Posted February 9, 2014 Posted February 9, 2014 It will be a GS 1000 may be a RD 500 or even a Kwaki 900.Mrs Peter reads this.....I might get all 3...I would fancy a Guzzir 850 I say sell my coins.....must go and polish my MG. Quote
Coinery Posted February 9, 2014 Posted February 9, 2014 It will be a GS 1000 may be a RD 500 or even a Kwaki 900.Mrs Peter reads this.....I might get all 3...I would fancy a Guzzir 850 I say sell my coins.....must go and polish my MG. Still not a total classic, yet, but I still have a soft spot for the GPZ900 Ninja of the late 80's Quote
Peter Posted February 9, 2014 Posted February 9, 2014 My mate had a Jota she has never pooed herself since....I can stiil see here hear screaming...Give em 1 Quote
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