Recent Heritage Signature Auction - This makes no sense...

[big80s]

So I won a lot last week in the Heritage Signature Auction. They have some cool new feature (at least, I thought it was cool) - where you can put a Best Offer up on the lot you won. So I figured I'd try it, since I was buying the lot to flip, anyways. Well, I woke up the next morning and I had received two offers, one of which I decided to take.

This seemed like a nice little deal, since I never had to mess with the lot and made a little cash off of it. Well, I called Heritage this morning to make sure everything was as it appeared. They told me I had to first pay for the lot that I won, which would mean I technically own it - before they could allow the buyer whose offer I accepted to pay for it. I also had to convince them that I should (obviously) not be paying shipping on a lot that's never being shipped to me. I realize they're still working out the kinks on this - but I think it seems silly for me to make payment on a lot that they're going to have to turn around and sell to the buyer that made the late offer.

Does this seem odd to anybody else?

[rainier2004]

The shipping part seems odd, but legally to sell I would think you would have to legally own it first? Also, Heritage and I have had our differences so I can be quick to pile on, but they would need some way of making some $$ off the resell transaction as theyre the ones handling it, processing the new deal and ultimately it was thier "resell option" that was used. Maybe Im missing something, usually am, but I am surprised they dont charge a handling fee or something there to resell. Now if they still accepted credit cards it seems like the whole process would be a lot easier, but they clearly state don't.

[big80s]

Heritage takes a 10% commission on these post-auction sales.

But I guess it makes sense, that I need to legally be the owner, before I'm able to make any profit on a sale. It just seems like a lot of extra work.

[rainier2004]

Originally Posted by big80s

Heritage takes a 10% commission on these post-auction sales.

But I guess it makes sense, that I need to legally be the owner, before I'm able to make any profit on a sale. It just seems like a lot of extra work.

I didnt know about the 10% commission and with that you should not have to pay s/h IMO - Agreed that it seems like a lot of extra work. Congrats on the profit though!