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

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 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

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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.

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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:

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Auction Schedule

Featured Auctions:
(*) Kevin Savage Auctions: May 14 - May 21
(*) PWCC Auctions: May 1 - May 21-24
(*) Hake's Auctions: May 14 - May 22
(*) MeiGray Auctions: May 11 - May 23
(*) Kevin Savage Auctions: May 16-May 23-24
(*) Iconic Auctions: May 16 - May 24
(*) NBA Auctions: May 11 - May 24
(*) Sirius Sports Cards: May 12 - May 24
(*) Pristine Auction: May 1 - May 27
(*) PWCC Auctions: May 1 - May 27-29
(*) NHL Auctions: May 21 - May 29
(*) Auction of Champions: May 17 - May 30
Kevin Savage Auctions: May 23 - May 30-31
NBA Auctions: May 24 - May 31
(*) Sterling Sports Auctions: May 17 - May 31
MEARS Auctions: May 25 - June 2
(*) Fusco Auctions: May 21 - June 2-3
(*) Heritage-Historical: May 14 - June 2-3
Kevin Savage Auctions: May 28 - June 4-6
(*) Clean Sweep Auctions: May 6 - June 6
(*) MeiGray Auctions: May 15 - June 6
Saco River Auctions: May 23 - June 6
Sirius Sports Cards: May 26 - June 7
Steve Novella: May 31 - June 7
(*) Heritage-Historical: May 21 - June 9-10
(*) RR Auction: May 18 - June 13
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Mile High Card Co: June 4 - June 21
RR Auction -Sports: June 14 - June 21
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(*) Pristine Auction: 10-Minute
(*) Pristine Auction: Daily
(*) Pristine 'Coin': Every Monday
(*) Pristine Weekly: Every Tuesday
(*) Pristine Classic: Every Wednesday
(*) Heritage - Sports: Every Sunday
(*) Heritage - Comics: Every Sunday
(*) Heritage - Entertainment: Every Sunday
(*) Heritage - Historical: Every Sunday
(*) Steiner Auctions: Every Sunday
2018 Full Auction Schedule

Consignment Deadlines:
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Goldin Auctions - 5/31
Iconic Auctions - 5/31
Auction of Champions - 6/1
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Collect Auctions - 6/1
Love of the Game Auctions - 6/1
Sirius Sports Cards - 6/1
SportsCardLink - 6/1
Steiner Auctions - 6/4
Pristine Auction - 6/15
PWCC Auctions - 6/10
Sterling Sports - 6/14
Iconic Auctions - 6/15
Sirius Sports Cards - 6/15
Small Traditions - 6/15
Memory Lane - 6/18
Huggins & Scott - 6/29
RR Auctions - 7/1
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