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 > 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.
