Internet Bidders Register Outstanding Success At Heritage's Pre-ANA

Dallas, Texas: Heritage's Pre-ANA Bullet Auction, held in Chicago on Saturday, August 7, firmly established the success of Heritage's outreach to coin collectors on the Internet. Of the $325,786 in rare coins sold at the Pre-ANA event, Internet bidders outbid determined floor and mail buyers to purchase $82,814.

"Heritage delivers maximum demand to our auctions by tapping every known source of numismatic demand," noted Heritage Co-Chairman Jim Halperin. "When the worldwide web became sufficiently secure to allow for numismatic transactions, Heritage was there with our website and our exclusive Interactive Internet™ software. After successful tests starting with our sales at the Sacramento ANA in March, we expected great things at the summer ANA. We were not disappointed, nor were our Internet bidders."

"At the Pre-ANA Bullet," explained HNAI Director Bob Korver, "Internet bidders purchased one-third of the lots that sold by count, and a full 25% by dollar volume. Successful Internet bidders outspent our mail bidders by 34%, an astonishing statistic considering that Heritage has the best mailing list - hence the strongest mail bid book - in the business! Floor bidders purchased a bit under half of the lots and slightly more than half of the dollar volume. Even more astonishing, while total sales at this small preliminary Bullet Auction were $325,786, Internet bids received totaled $317,116. This is widespread interest; this is strong demand! To achieve maximum prices realized, it is obvious that no auction house can exclude any of these important groups of buyers. Heritage delivers the best floor demand by taking consignor coins to America's largest conventions, delivers the strongest mail demand with our world class mailing list, and delivers the most vibrant Internet demand with our Interactive Internet ™ software."

"You need every segment of demand to maximize prices," continued Halperin. "We're thrilled with our Internet demand, of course, but we do recognize certain limitations. Internet-only sales are still missing many buyers. So we combine the demand from every other source - for example, top Internet bidders on coins valued over $5,000 are invited to participate by telephone during the sale. The only question is why anyone would consign their coin collection to an auctioneer that did not include Internet bidders, that ignored the bidders gathering at major conventions, or that offered their coins to an Internet-only audience? Sure it costs us more to conduct an auction this way, but compare the difference in results! It seems almost bizarre that among all the numismatic auction firms, only Heritage chooses to deliver the maximum demand from all venues for our consignors' coins."

Heritage's exclusive Interactive Internet™ software is found on the Heritage website. It includes the following features: full-color images of virtually every single auction coin; the full text of our Signature and Bullet catalogs; personalized mini-catalog of the lots that interest you for easy review of your bids; simple bidder registration; ability to view the current opening bid, with easy bidding from the keyboard; automatic e-mail notification if your high bid is subsequently topped. Heritage is spending more than one million dollars to help every lot achieve its maximum potential.

Information about consigning can be obtained at the Heritage Consignor Hotline at 1-800-US COINS (800-872-6467) Ext. 222. Or contact Leo Frese, Ext. 294; Bob Merrill, Ext. 270; or Scott Reiter, Ext. 277, or e-mail bids@heritagecoin.com. Heritage Numismatic Auctions world headquarters is located: 3500 Maple Avenue, 17th Floor, Dallas Texas, 75219-3941.