Heritage sells over 40 categories of collectibles, each with a distinct market. As such, there isn’t a universal commission rate across all departments. In posters, the standard commission rate is 25% for items that sell for >$1000, and 20% for items that sell for $1000 and up. Additionally, most categories, including posters, have a general $5000 minimum consignment value. That doesn’t mean that a consignment of (100) $50 items would make sense or be accepted, or that a single $1500 poster would be rejected. Because unsolicited consignments are not taken or encouraged, the idea is to contact Heritage regarding items that you'd like to consign.
On Thu, Jun 8, 2023 at 4:29 PM Scott Burns <sbu...@columbus.rr.com> wrote: > Thanks for the explanation Zach. > > > > I was clear on the BP situation—that’s easy to understand. I was just > curious how much I might have to pay to Heritage should I ever consign > posters for auction. The commission rate varies? How is that determined? > > > > Basically, Heritage gets paid via the Buyer’s Premium AND a commission > charged to the seller based on hammer price. Yikes! To be honest, that > double whammy makes me hesitant to ever consider consigning, especially > anything not likely to get a substantial price (which probably describes > most of my collection.) I’ll leave the auctions to the high rollers. 😊 > > > > Scott > > > > *From:* MoPo List <mopo-l@LISTSERV.AMERICAN.EDU> *On Behalf Of *Zach > Pogemiller > *Sent:* Thursday, June 8, 2023 4:02 PM > *To:* MoPo-L@LISTSERV.AMERICAN.EDU > *Subject:* Re: [MOPO] Heritage fees > > > > The fee structure at Heritage works the same way as it does at Prop Store, > Sotheby’s, Christie’s, or any other auction house that charges a buyer’s > premium. > > > > For a seller: > > > > Commission is assessed on the hammer price (winning bid amount). > > > > The seller nets the hammer price less commission. The seller’s commission > is typically a percentage of hammer for each lot sold. If you have a 20% > commission rate, you will net $800 from a winning bid of $1000. > > > > For a buyer: > > > > The buyer pays the hammer price + buyer’s premium. The buyer’s premium is > calculated based on the hammer price. > > > > In Movie Posters, the buyer’s premium is 20% or a minimum buyer’s premium > of $29. Other categories have different Buyer’s Premiums. For instance, in > a Hollywood memorabilia auction, the buyer’s premium is 25% or a minimum > buyer’s premium of $49. As a buyer, the auction platform calculates and > shows you your final price before you place a bid. There’s no mystery as to > the fee. You literally have to agree to a bid twice for it to register. If > you won a lot for a bid of $1000, the sale price would be $1200 (winning > bid + buyer’s premium). > > > > On Thu, Jun 8, 2023 at 1:44 PM Scott Burns <sbu...@columbus.rr.com> wrote: > > I was curious about HA’s fees, too. As I was watching their TV memorabilia > auction this past, weekend I looked all over their website but didn’t find > a clear answer on fees, other than the 25% BP. > > > > Am I correct to assume HA keeps the Buyer’s Premium of 25%, PLUS a cut of > whatever the final bid price is? If I consign a poster and it sells for > $200, the buyer pays $250 with the BP, then tax and shipping charges. As > the consigner, what do I actually have in my pocket after the sale? > > > > Scott > > MoPo List Owner > > > > *From:* MoPo List <mopo-l@LISTSERV.AMERICAN.EDU> *On Behalf Of *peter > contarino > *Sent:* Wednesday, June 7, 2023 11:32 AM > *To:* MoPo-L@LISTSERV.AMERICAN.EDU > *Subject:* [MOPO] Heritage fees > > > > Can anyone provide me with a link to HA auction fees please? I have been > looking at their site for 10 minutes and can't find anything. Everything > else under the sun is easily available. > > > > Thanks, > > > > Peter > > > ------------------------------ > > To unsubscribe from the MoPo-L list, click the following link: > https://listserv.american.edu/scripts/wa-american.exe?SUBED1=MoPo-L&A=1 > > > ------------------------------ > > To unsubscribe from the MoPo-L list, click the following link: > https://listserv.american.edu/scripts/wa-american.exe?SUBED1=MoPo-L&A=1 > > > ------------------------------ > > To unsubscribe from the MoPo-L list, click the following link: > https://listserv.american.edu/scripts/wa-american.exe?SUBED1=MoPo-L&A=1 > Visit the MoPo Mailing List Web Site at www.filmfan.com ___________________________________________________________________ How to UNSUBSCRIBE from the MoPo Mailing List Send a message addressed to: lists...@listserv.american.edu In the BODY of your message type: SIGNOFF MOPO-L The author of this message is solely responsible for its content.
