Record Category Sales – Office Expansions Drive Heritage Auctions $815+ Million Year

halogo2018

 Heritage Auctions announced today annual sales of more than $815 million in 2017, reflecting record increases across several departments and a 26 percent increase in online sales.

“Although our U.S. Coin sales declined, Heritage again outsold all other auction firms combined in that category,” said Co-Chairman James Halperin. “Meanwhile, 2017 was a tremendous year for expansion, profitability and growth across almost every other category we serve. We’ve become the world’s market leader in several

heritge2-5-18b

fast-growing collectibles categories, strengthening our plans for global expansion.”

Increasing access to the firm’s 40 collecting categories, Heritage opened an office in Chicago and an office and gallery space in London, joining Paris, Geneva, Amsterdam and Hong Kong in the firm’s international footprint. Auctions have originated in Hong Kong since 2015, and the firm will hold its first European Comics & Comic Art auction from its Netherlands saleroom in April.

Sales of U.S. Coins remain the firm’s largest category, with 2017 auction totals exceeding $169 million (an average of $306,000 in sales per week), outselling all other numismatic auction houses combined, according to the Professional Numismatists Guild 2017 annual survey. High-profile sales in World & Ancient Coins – one of the auction house’s fastest-growing categories – surpassed $49 million, the category’s second-best year ever.

Fast-growing collectibles categories posted year-over-year revenue increases while setting several world records, including:

  • Patrick Nagel’s Bold, circa 1980s, sold for a staggering $200,000, shattering the previous world auction record of $161,000 – one of many fine art auction records set in 2017.

High-growth strategies included:

  • significant expansion of its San Francisco office to accommodate its growing staff and services. The new office will allow Heritage San Francisco to hold larger exhibitions of fine art by well-known artists as well as frequently changing displays.
  • Making history as the first major house in decades to host an auction of Modern & Contemporary Art in Los Angeles. The sale established the firm’s new presence in the Los Angeles art community and in the broader art market while setting world records for artists Paul Jenkins and Ray Johnson.
  • The first time a major international auction house offered collectible sneakers, a bold move that resulted in a world record bid of $52,500 for a pair of Nike Air Mag self-lacing sneakers.

Heritage Auctions’ Make Offer to Owner Program Hits $10 Million Record

Heritage Auctions’ Make Offer to Owner (MOtO) service, a proprietary program in which clients make anonymous offers to purchase items previously sold at auction, enjoyed a record-breaking year in 2017 as sales surged to more than $10 million.

“This program combines two of the features clients consider most important: quickness and security,” Heritage Auctions Co-Chairman Jim Halperin said. “It allows a quick way for a customer to continue pursuit of a missed auction item, and does so through a safe, efficient process that benefits both sides of each transaction.”

The top seven MOtO sales yielded a six-figure return; seven of the top 10 lots sold during 2017 were sports collectibles and memorabilia.

heritage2-5-18

Clients who enroll in Heritage’s MOtO program have the opportunity to bid on items in select auctions within 72 hours after the conclusion of the sale for all items that have been in inventory for more than 30 days. Those who make an anonymous offer will have their information transmitted by Heritage to the lot’s owner, who then has the option of accepting or rejecting the offer, or presenting a counteroffer for the MOtO client’s consideration. Heritage retains 10 percent of the total price as a commission and waives all credit card and/or PayPal fees. Transactions are managed through HA.com, which protects the privacy of all parties. Lots can be returned during a seven-day window, after which MOtO transactions are binding.

The top 10 MOtO lots from 2017 were:

0 comments

Add your comment

Commenting is allowed only for registered users.

Other articlesgo to homepage

The Mummy, King Kong and London Vampires Highlight Horror Movie Posters at Heritage Auctions

The Mummy, King Kong and London Vampires Highlight Horror Movie Posters at Heritage Auctions(0)

Rare movie posters from classic American horror flicks, including the only-remaining Belgian poster for The Mummy (Universal, 1933), haunt Heritage Auctions’ Movie Posters event April 7-8 in Dallas. Cinema’s classic monsters in the 600-lot auction range from a beastly, 47-inch tall poster for King Kong (RKO, 1933) to an elusive poster from the iconic vampire film London After Midnight (MGM, 1927).

Original Cover Art for The Amazing Spider-Man #100 May Bring $300,000 at Heritage Auctions

Original Cover Art for The Amazing Spider-Man #100 May Bring $300,000 at Heritage Auctions(0)

The Original Cover Art from The Amazing Spider-Man #100  – considered one of the most iconic covers of the 1970s – could sell for as much as $300,000 in Heritage Auctions’ winter Comics & Comic Art event Feb. 22-24. Brimming with fresh-to-market high-grade vintage books, the auction features rarely seen art, such as Frank Frazetta’s Tree of Life Original Painting (est. $300,000).

Bidding Now Open: Heritage Auctions March 7 Rare Books Auction Highlighted by First Edition Great Gatsby

Bidding Now Open: Heritage Auctions March 7 Rare Books Auction Highlighted by First Edition Great Gatsby(0)

Bid now in Heritage Auctions March 7 Rare Books Auction, ending March 7, 2018. There are lots of items slated for the auction block. As always, we try to offer a diverse group of material so that the largest assortment of collectors possible can participate.  Bid, view and register at historical.ha.com.

Ruth ‘All-American Game’ Uniform Hits Auction Block at Heritage Sports Auction

Ruth ‘All-American Game’ Uniform Hits Auction Block at Heritage Sports Auction(0)

Babe Ruth never got to fulfill his dream of managing in the major leagues, but he did get to act as skipper of the East squad in the 1945 Esquire All-American Game at the Polo Grounds. Now, the uniform worn by the Babe that day is up for auction, where it could fetch $200,000 or more.

Bid In The March 10th The David and Janice Frent Collection of Political & Presidential Americana – Part 2

Bid In The March 10th The David and Janice Frent Collection of Political & Presidential Americana – Part 2(0)

Bid now in Heritage Auctions March 10 The David and Janice Frent Collection of Political & Presidential Americana, Part 2 Internet Session . There are 500+ lots of items slated for the auction block,  all attractively priced with minimum opening bids of less than $150. Bid, view and register at historical.ha.com.

read more

Auction Schedule

Featured Auctions:
(*) Goldin Auctions: Jan. 22 - Feb. 17
(*) PWCC Auctions: Jan. 25 - Feb. 18-22
(*) Steve Novella: Feb. 13 - Feb. 20
(*) MeiGray Auctions: Feb. 1 - Feb. 20-22
(*) Auction of Champions: Feb. 7 - Feb. 21
(*) University Archives: Feb. 7 - Feb. 21
(*) NBA Auctions: Feb. 1 - Feb. 22
(*) Heritage-Comics: Feb. 1 - Feb. 22-24
Fusco Auctions: Feb. 22 - Feb. 24
(*) Heritage-Historical: Feb. 5 - Feb. 24
(*) Iconic Auctions: Feb. 16 - Feb. 24
(*) Yesteryear Auctions: Feb. 1 - Feb. 24
(*) Heritage-Sports: Feb. 2 - Feb. 24-25
(*) Pristine Auctions: Feb. 1 - Feb. 25
(*) PWCC Auctions: Jan. 25 - Feb. 25-28
(*) NHL Auctions: Feb. 1 - Feb. 26
(*) Classic Auctions: Feb. 2 - Feb. 27
Steve Novella: Feb. 20 - Feb. 27
(*) MeiGray Auctions: Feb. 1 - Feb. 27-28
Mile High Card Co: Feb. 19 - Feb. 28
(*) MeiGray Auctions: Feb. 1 - March 1
(*) NBA Auctions: Feb. 1 - March 1
Sirius Sports Cards: Feb. 17 - March. 1
MEARS Auctions: Feb. 23 - March. 3
Small Traditions: Feb. 18 - March. 3
PWCC Auctions: March 1 - March 4-8
Auction of Champions: Feb. 21 - March 7
(*) Clean Sweep: Feb. 5 - March. 7
(*) Heritage-Historical: Feb. 9 - March 7
RR Auction: Feb. 17 - March 7
(*) NBA Auctions: Feb. 15 - March 8
Candiman Auctions: Feb. 17 - March 10
(*) Heritage-Historical: Feb. 9 - March 10
PWCC Auctions: March 1 - March 11-15
Hake's Americana: Feb. 20 - March 13-15
Goodwin & Company: Feb. 24 - March 15
(*) NBA Auctions: Feb. 15 - March 15
RR Auction: March 8 - March 15
Heritage-Historical: Feb. 26 - March 17
PWCC Auctions: March 1 - March 18-22
Mile High Card Co: March 5 - March 22
NBA Auctions: March 1 - March 22
Sterling Sports: March 8 - March 22
(*) Lelands: Feb. 14 - March 23
Pristine Auctions: March 1 - March 25
PWCC Auctions: March 1 - March 25-29
University Archives: March 14 - March 28
Morphy Auctions: March 15 - March 29
2017 Full Auction Schedule

Daily/Weekly Auctions:
(*) Fanatic Auctions: Daily
(*) Greg Morris Cards: Daily
(*) NHL Auctions: Daily
(*) Pristine Auction: 10-Minute
(*) Pristine Auction: Daily
(*) Kevin Savage Auctions: Every Monday
(*) Auction of Champions: Monthly
(*) Pristine Weekly: Every Tuesday
(*) Kevin Savage Auctions: Every Wednesday
(*) Pristine Classic: Every Wednesday
(*) Kevin Savage Auctions: Every Thursday
(*) NBA Auctions: Every Thursday
(*) Heritage - Sports: Every Sunday
(*) Heritage - Comics: Every Sunday
(*) Heritage - Entertainment: Every Sunday
(*) Heritage - Historical: Every Sunday
(*) Just Collect: Every Sunday
(*) Steiner Auctions: Every Sunday
(*) Lelands Internet: Weekly
2017 Full Auction Schedule

Consignment Deadlines:
Fusco Auctions - 2/17
RR Auction - 2/23
Sirius Sports Cards - 2/24
Heritage-Sports: 2/26
Sterling Sports - 3/1
Green Jacket Auctions - 3/1
All Consignment Deadlines
Consign/Sell Here

Sponsors

Contacts and information

Auction Report is the premier web site for news coverage and more on the best auction companies.

Social networks

Most popular categories

© 2018 Auction Report All rights reserved.