is G.C. taking over?

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DHalladay
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is G.C. taking over?

Post by DHalladay » Thu Mar 16, 2023 6:00 pm

When Heritage raised its buyer's fee to 20% several years ago, I had concerns there might be serious trickle down effects on consignors, who would see smaller net proceeds and would ultimately seek out other selling alternatives. It's taken longer than I expected.

But when Heritage raised its minimum buyer's fee to $29 -- think about that; you win a lot for $1 but your bill is $30 -- I thought, "OK, that's going to stop inexpensive coins from being sent to Heritage." My next thought was, "I hope Great Collections ($5 minimum buyer's fee and as low as 10% buyer's fee) is prepared for the tidal wave of consignments coming its way."

Those were just hunches, though. At least until this morning, when I looked for some evidence – and found it. Admittedly, it's only today's evidence and it's only two data points. But here's what it is; decide what it says to you:

-- As of this morning at Heritage, there are 961 Morgan dollars listed under "All current and coming soon auctions". Just 8 of them (0.83%) are listed/described as VAMs.
-- As of this morning at Great Collections, there are 2,662 Morgan dollars listed in current and coming auctions. Eighty-nine of them (3.34%) are listed/described as VAMs.

The raw numbers say Great Collections has nearly three times as many Morgans in its auction pipeline right now than Heritage does, and four times the percentage of Morgan VAMs.

Even though I kind of saw this coming, it's still a little surprising – and I do expect it to continue.
Last edited by DHalladay on Thu Mar 16, 2023 8:23 pm, edited 2 times in total.
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weth
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Re: is G.C. taking over?

Post by weth » Thu Mar 16, 2023 6:43 pm

I must admit that although I've bought from Heritage and find them to be quite reputable, they don't really make their submission process very straightforward so I've never sold through them. It's always been easy to submit to GC. Even selling beat-up, common date silver dollars gets you a decent percentage of the actual sale price.

I've certainly helped to increase the number of VAMs in GCs sales stream recently...

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UNCLE BINGO
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Re: is G.C. taking over?

Post by UNCLE BINGO » Thu Mar 16, 2023 9:00 pm

I am pretty sure ole Ian is going to end up ruling the world :lol: kudos to JB for all the vss stickers and Jr for attributed correctly,as these bring great attention to the hobby . Buy em while you can it's getting tougher ...
Proud winner of Worst new Vammer of the year :lol:

JohnGoldsmith
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Re: is G.C. taking over?

Post by JohnGoldsmith » Fri Mar 17, 2023 12:03 am

One of my motto's is, I know you need to make a profit, just don't make it all off me.

Strength in numbers, make a few dollars and sell a lot of coins.

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DarksideVAM
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Re: is G.C. taking over?

Post by DarksideVAM » Fri Mar 17, 2023 12:15 am

The raw numbers say Great Collections has nearly three times as many Morgans in its auction pipeline right now than Heritage does, and four times the percentage of Morgan VAMs.
That suits me just fine. Especially since we lobbied them into keeping the VSS stickers on the slabs. I sent Ian a lot of lobbying messages for more than a year but I think @messydesk must have sent an "offer he can't refuse" :D

Seriously, I prefer using Great Collections for liquidating extras but I was discouraged in sending VAMS because they stripped off the labeling.

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messydesk
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Re: is G.C. taking over?

Post by messydesk » Fri Mar 17, 2023 12:56 am

It's sort of a natural outlet for graded VAMs. Low fees for coins that aren't high enough value to send to Heritage and probably quicker payment for consignments. I think when all is said and done, the fees are close to the same as they are with eBay if you don't have a preferred seller store and the hassle is much less.
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DarksideVAM
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Re: is G.C. taking over?

Post by DarksideVAM » Fri Mar 17, 2023 3:55 am

hassle is much less.
Right on. Not having to deal with the 10th percentile of humanity has measurable value. ;)

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Kurt28
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Re: is G.C. taking over?

Post by Kurt28 » Fri Mar 17, 2023 7:41 am

I believe that GC is on the right track to taking over, and there are several things they could do to hasten the process. One, might be to find a mutually beneficial agreement with ANACS to promote VAMs, as PCGS and NGC only recognize a small percentage of all VAMs. Two, might be to invest in better photography. I think HA reins in that department, but as one that likes to pick, photos are important.

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messydesk
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Re: is G.C. taking over?

Post by messydesk » Fri Mar 17, 2023 4:37 pm

Kurt28 wrote:
Fri Mar 17, 2023 7:41 am
I believe that GC is on the right track to taking over, and there are several things they could do to hasten the process. One, might be to find a mutually beneficial agreement with ANACS to promote VAMs, as PCGS and NGC only recognize a small percentage of all VAMs.
They currently have discounted grading at ANACS. I don't know if they have negotiated discounted attribution as well. They also send me coins for attribution once in a while. More than just VAMs, they'd do well to promote general variety collecting, as there are many varieties in many series that aren't worth what it costs to sell through the full-fee auctioneers.
Two, might be to invest in better photography. I think HA reins in that department, but as one that likes to pick, photos are important.
Quality assembly-line coin photography where throughput is king is difficult. Heritage has rooms full of photography stations. Their slab shots are consistent enough that I've become quite good at knowing what the coin will look like in hand. Their glam shots are horrible and hide information on the coins. Being able to zoom in on photos to see fine detail is a website issue that Heritage has handled well, GC not as well.
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ljs123
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Re: is G.C. taking over?

Post by ljs123 » Sat Mar 18, 2023 2:44 am

I would rather send coins to G.C. over Heritage. My experience with G. C. has been good. My St Gaudens 1909-S/S in PCGS MS-65 did well. I just sent in my favorite Saint into G. C.
In the near future you will see a 1911-D/D PCGS MS-66 CAC with Duckor/Akers heritage on the label. :) / :(

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UNCLE BINGO
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Re: is G.C. taking over?

Post by UNCLE BINGO » Sat Mar 18, 2023 5:04 am

Big coin Lee . I HOPE it does well for you !let us know when, even if I only get to watch . It should be fun .
Proud winner of Worst new Vammer of the year :lol:

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messydesk
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Re: is G.C. taking over?

Post by messydesk » Sat Mar 18, 2023 5:29 am

ljs123 wrote:
Sat Mar 18, 2023 2:44 am
I would rather send coins to G.C. over Heritage. My experience with G. C. has been good. My St Gaudens 1909-S/S in PCGS MS-65 did well. I just sent in my favorite Saint into G. C.
In the near future you will see a 1911-D/D PCGS MS-66 CAC with Duckor/Akers heritage on the label. :) / :(
If it's a D/D does it need any other label on it, or did PCGS take care of that. ;)
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ljs123
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Re: is G.C. taking over?

Post by ljs123 » Sat Mar 18, 2023 12:59 pm

JB,
It is a D/D on the label.
Several years ago I purchased this coin unattributed. I sent it back to PCGS to get the D/D on the label. Then I submitted it to CAC.

As mentioned by others, the photos on G.C. are not as good as Heritage. If this coin wasn’t labeled as a D/D on the label, I don’t think it would show up in the G.C. photos very well.

DHalladay
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Re: is G.C. taking over?

Post by DHalladay » Sat Mar 18, 2023 3:20 pm

I also lobbied Ian for over a year about the consistent VAM attribution accuracy of VSS over NGC and PCGS, using coins that were currently running in GC auctions as evidence. I'm proud to have been a part of that chorus, and happy for Ian and Rae about the extra business it has brought them.
When in doubt... don't.

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DarksideVAM
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Re: is G.C. taking over?

Post by DarksideVAM » Sat Apr 01, 2023 5:12 am

Raeleen is great about working with you to apply consigned proceeds to a new purchase as well. There are many reasons GC is growing.

morganman
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Re: is G.C. taking over?

Post by morganman » Tue Apr 04, 2023 11:05 am

Like pitting Goliath against a mouse- I have never used GC but can tell members here that i pay
NO fees at heritage as a consignment seller, I think due to my
association with their VP numismatics Jim Stousjesdyk (whoosh) LOL

I find their professionalism/dedication/support/pictures etc
2nd to none, with overall prices received very good.
I also sell a bunch of pre determined dates/grades to Jim for cash,
which allievates the 45 day wait for consigned coins

45 days waiting for money is un acceptable IMHO, and ive put my
2 centsworth of complaints in about that issue
Otherwise i experience fantastic results from start to finish with Heritage
and now they are conducting PL/DMPL & Morgan Vam Sales periodically
which really seems to be catching on. Proof is in the numbers and they
have em from all aspects, buying & selling alike.

Can you tell im a staunch Heritage fan- as i now dispise fleabay and PP
as its a real pain to go through all the time & hassles to list and sell there.
I have found a great Home but also see GC as up and coming, as
competition is a great thing, and Goliath needs taming from time to time
:|

iceman
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Re: is G.C. taking over?

Post by iceman » Sat Apr 08, 2023 10:20 pm

Hi All
Yep Im finally going to do a Heritage Auction submition of some of my duplicates to
AKA Test the waters . I have a coupon that I just thought I would try( No sellers commision on 1 coin over 1K ) . So its my 1st time with selling something in a Auction , never even sold on EBAY , So it should be educational . Just doing 2 coins for the fun of it .
Heritage has great Photo's , GC is not up to par on the photos as of yet . So hence my trying out Heritage .


John

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DarksideVAM
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Re: is G.C. taking over?

Post by DarksideVAM » Wed Apr 12, 2023 2:47 am

Good luck. Heritage does have the best photos by far. GC does not charge a sellers fee on any lots that hammer over 1K. It's 5% for everything else.

It looks like GC made some improvements to the image display this week.

https://www.greatcollections.com/kb/Gre ... 542-4.html

iceman
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Re: is G.C. taking over?

Post by iceman » Wed Apr 12, 2023 9:12 pm

DarkSide
Yep they sure did make some improvments , Getting Nicer on GC !!!
So the photo are getting better It would seem , and of course us Vam people need good photo's .
Nice to have the Zoom feature Now on GC .

Iceman ( John)

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UNCLE BINGO
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Re: is G.C. taking over?

Post by UNCLE BINGO » Thu Apr 13, 2023 1:11 am

Extremely wise move on their part ! should make Vamming on GC much more interesting !
Proud winner of Worst new Vammer of the year :lol:

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