Heritage’s 2016 auctions topped $850 million during company’s third-best year ever

As always coin and paper money auctions brought in a huge chunk of the revenue
By , Coin World
Published : 02/07/17
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Heritage Auctions’ 2016 performance as a company achieved some numbers that might look familiar. 

In 2016, more than $850 million changed hands between Heritage and collectors in all of the hobbies it serves, falling only slightly short of the firm’s $860 million total for 2015

It was the company’s third-best year ever in terms of prices realized, according to the firn.

Of the $850 million worth of items sold by Heritage in 2016, more than $190 million worth were U.S. coins. The Professional Numismatists Guild annual survey reports the Heritage total is 56 percent of the entire U.S. coin auctions market for 2016. 

Heritage's world coin auctions chipped in $47 million, while the paper money auctions hauled in $29 million.

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January 2017 saw $70 million in prices realized for the firm, which includes the 2017 FUN convention auctions.

Heritage, which just opened a new Chicago office, deals in all sorts of collectibles. Of the $850 million, fine art made the biggest leap, jumping 28 percent in total sales from 2015 to 2016. 

Heritage co-chairman James Halperin touted his firm’s transparency and overall client-oriented approach. 

“Through diversity, transparency and ardent attention to our clients, Heritage solidified and increased its commanding lead as the largest auction house founded in America,” Halperin said. 

Below are some other notable categories that helped Heritage record its third-strongest year ever:

— Heritage’s Sports auctions grew from $42 million in 2015 to $57.4 million in 2016.
— Heritage’s Comics and Comic & Animation Art Auction category saw prices realized jump from $34 million to a record $43 million.
— Fine Jewelry, Timepieces and Luxury Accessories at Heritage combined for more than $41.7 million in auction totals, versus more than $26 million in 2015.

Halperin said he is encouraged with last year’s sales, and anticipates a fruitful 2017, too. 

“We are already seeing extremely positive results from the first coin auctions of the year,” he said. “Meanwhile, our plans to expand into other markets and geographic regions are on track.”

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