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#1
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Well, because Heritage has an office in Florida, which I guess gives a Texas company the right to charge Fl sales tax. I doubt they have an office in South Dakota. I don't understand it but I guess that is the law. And yes it is a real office here in Palm Beach. I have been down there and kicked the tires. It is not a PO box.
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#2
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Quote:
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#3
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I just looked at Heritage's Terms & Conditions and their general FAQ on their site and there is no mention of taking credit cards at all. I've only won one lot from Heritage and it was July 2017. At that time, the info I saw clearly stated they accepted credit cards up to $5,000 and there was no addition to the 20% buyer's premium. I am not sure what they are doing now as the T&C don't mention it.
In reply to those who commented that it wouldn't be prudent to "eat" the 3% credit card fees, I would submit two thoughts: - Large companies with high volumes can negotiate lower fees with CC vendors/banks. - That argument is not considering the fact that the use of credit cards often increases purchases both in volume and amount. While it is impossible to know how taking credit cards would directly affect this type of business, it is entirely possible they would make additional $$ in bids because they take credit cards. It is my preferred method and HA and Sterling take them so I look there first for items I may want. There is a reason companies began taking credit cards in the first place. The primary two reasons are convenience and higher sales. |
#4
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Yes, and also add a third reason: the AH doesn't want to pay Visa/MC 3%, preferring to pass the cost along to the customer who wishes to pay by credit/debit card which, harking back to my original point, puts me in a hole when competing against fellow bidders, especially for desirable high value items, residing in a state where Heritage has no physical presence and who wish to pay by check. A smaller auction house, like Sterling, hungry for new and repeat bidders, must feel they have little choice but to absorb the 3% cost. A similar reasoning probably exists why Heritage won't take Ebay. The FL sales tax and credit card surcharge added $600 to my auction total and that was painful.
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#5
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__________________
Current Wantlist: E92 Nadja - Bescher, Bridwell, Cobb, Donovan, Doolan, Doyle (with bat), Lobert, Mathewson, Miller (fielding), Tinker, Wagner (throwing), Zimmerman E/T Young Backrun - Need E90-1, T216 (all versions) E92 Red Crofts - Anyone especially Barry, Shean, and Evers |
#6
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http://floridarevenue.com/taxes/Pages/consumer.aspx |
#7
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I think I get it now, maybe. If a winning Heritage internet bidder in South Dakota doesn't have Heritage collect a sales tax, which only happens in states where they have a physical presence, he is still liable for it and needs to remit same to the state on a voluntary basis. Which I am sure rarely if ever happens. And I suppose their refusal to accept Pay Pal as a method of payment and making winning bidders "eat" the 3% credit card fee they should be paying, are simply business decisions and Heritage profit enhancers.
My only point when I initiated this thread is that, when trying, often failing, to calculate any kind of successful bidding strategy, I have to entertain costs that folks in other states don't need to. My hit ratio in their last auction was abysmal |
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