Author Topic: Good lord! Did Heritage up their buyer premiums AGAIN!?!  (Read 430 times)

Offline Monster_A_GoGo

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Good lord! Did Heritage up their buyer premiums AGAIN!?!
« on: October 27, 2021, 02:33:18 AM »
I was just on Heritage taking a look-see at what they had for sale this week and noticed that--WTF?-something without a bid---a $1 wonder--instead of turning into a $20 bid, is now a $30 bid. GEEZ Louise! And this is for their regular weekly auctions---NOT the Signature Auctions. Wow! I prefer eMovie (always have), but occasionally shopped HA. Now though...$30 for a $1 bid? That's a whole lotta crazy. It would have to be something I really wanted badly to even think of bidding now...
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Online eatbrie

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Re: Good lord! Did Heritage up their buyer premiums AGAIN!?!
« Reply #1 on: October 27, 2021, 10:09:12 AM »
Yes, I posted something to that extant a few days ago, but no one seemed to care.  I guess people on this forum are loaded and it doesn't make a difference...  This is crazy.  Are they the most expensive amongst auction houses now?  More than Sotheby's or Christie's???  Or maybe this is their way of saying "we don't want to sell cheap posters anymore."

T
« Last Edit: October 28, 2021, 08:53:36 AM by eatbrie »
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Online crowzilla

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Re: Good lord! Did Heritage up their buyer premiums AGAIN!?!
« Reply #2 on: October 28, 2021, 02:43:40 AM »
Are they the most expensive amongst auction houses now?  More than Sotheby's or Christie's???

It does seem like a high number, but it's definitely not the highest. Sotheby's charges a 26% premium and Christie's a 25% premium on all their auctions. Those extra percentages add up quickly.  Of course, Heritage has averaged over $150 per lot on prices realized for some time now, so the actual percentage of auctions it affects is fairly low.
But can you blame them for not wanting to waste time and lose money dealing with less expensive posters? Even Bruce has put tons of restrictions now on consignments they accept to try and stop the sub-$20 item losses (and it's helped a lot as he more than doubled his average sales price last year).

The real savings though comes from the fact that Bruce is paying all of our sales taxes for us. He long ago smashed most reporting requirements for sales tax (heck, the Frankenstein TC alone qualifies in many states) but has been eating that for us. That is an extra 6-12% in many states that is not being passed on to us. None of the other auction houses are nice enough to do that.
Plus of course, Bruce's great packing and lower shipping fees. Many other auction houses use shipping to pad totals, I recently paid over $100 to ship a few folded posters from an LA auction (in addition to their 25% buyer's premium), which is just silly.
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Offline Simes

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Re: Good lord! Did Heritage up their buyer premiums AGAIN!?!
« Reply #3 on: October 28, 2021, 05:51:57 AM »
Yes, I posted something to that extant a few days ago, but no one seemed to care.  I guess people on this forum are loaded and it doesn't make a difference...  This is crazy.  Are they the most expensive amongst auction houses now?  More than Sotheby's or Christie's???  Or maybe this is their way of saying "we don't want to sell cheap posters anymore."

T

Definitely the latter.  And who can blame them?
« Last Edit: October 28, 2021, 08:53:54 AM by eatbrie »

Offline ealingmovieposters

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Re: Good lord! Did Heritage up their buyer premiums AGAIN!?!
« Reply #4 on: October 30, 2021, 01:06:03 AM »
In the last few weeks I purchased two posters from Bruce at $12 each, I am really happy he manages to sell the low end stuff and with the extended buy and hold for cheaper shipping it is one of the reasons I am still in the hobby, as a buyer on a limited budget.

In case anyone is curious I have attached the images from emovie (it will be a while before I get the shipment) - there is a fair French 1p (artist Arnstam) and a V Good insert film noir, both from the 50's.






« Last Edit: October 30, 2021, 01:17:42 AM by ealingmovieposters »
Regards

Ian

Offline ihatefakes

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Re: Good lord! Did Heritage up their buyer premiums AGAIN!?!
« Reply #5 on: November 06, 2021, 12:24:29 AM »
I bought a few posters from Heritage, and after seeing the buyers fees, the visa fees  and the high shipping fees I just stopped using them. Dont care if they have something I want, I would rather support places that dont have these charges.