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Wikipedia

Heritage Auctions

February 15, 2024

Heritage Auctions is an American multi-national auction house based in Dallas, Texas. Founded in 1976, Heritage is an auctioneer of numismatic collections, comics, fine art, books, luxury accessories, real estate, and memorabilia from film, music, history, and sports.

Heritage Auctions
Company typePrivate
Founded1976; 48 years ago (1976) in Dallas, Texas, U.S.
FounderSteve Ivy
(founder and CEO)
Jim Halperin
(co-founder)
Headquarters
Dallas, Texas, U.S.
ProductsAntiques and collectibles
ServicesAuctioneer
Websiteha.com

History edit

In 1982, Heritage Auctions became an equal partnership between two collectors, Steve Ivy and Jim Halperin.[1] In 1967, Ivy dropped out of the University of Texas at Austin to form Steve Ivy Rare Coin Co. in Dallas, Texas.[2] In 1971, while still a freshman at Harvard University, Halperin established New England Rare Coin Galleries. He would later drop out of school. In the same vein, Ivy, the one who initially formed Heritage Auctions in Dallas in 1976,[1] transitioned from his earlier, smaller enterprise. These two individuals frequently crossed paths at industry trade shows and auctions. In 1982, Halperin sold his Boston-based business and relocated to Dallas to join Ivy. Alongside him, he brought Marc Emory, a partner who currently oversees a segment of Heritage's European operations. Another key addition to the company was Greg Rohan, who joined in 1986 and now serves as the president of the company.[2][3] Besides Ivy, Halperin, Rohan, and Emory, the company includes four other partners: Paul Minshull, Ryan Carroll, Todd Imhof, and Cristiano Bierrenbach.[2]

In 1996, Heritage Auctions initiated a website that facilitated online auctions for buying and selling coins. This online platform significantly expanded the pool of potential sellers and buyers for the company. Following Halperin's guidance, Heritage took steps to broaden its business scope by incorporating collectibles beyond numismatics. This diversification began with comic book auctions in 2001. Subsequently, in 2003, the company introduced a memorabilia department, which hosted its inaugural auction valued at approximately $2 million.[2] During the mid-2000s, Heritage Auctions ventured into the market of music, entertainment, and film memorabilia. By April 2006, the auction house had already conducted its third biennial auction featuring collectibles previously owned by renowned actors, musicians, directors, and other figures in the film industry. These auctions showcased diverse collections comprising props, set elements, and attire from some of the most iconic films and television series in history. Additionally, personal items belonging to various musical artists were also part of these auctions.[1] In 2010, Heritage launched its luxury items division, which includes jewelry, handbags, and other accessories.[4] In some instances, rare items from these auctions have sold for over two hundred thousand dollars.[5] By 2013, the auction house was also auctioning modern and contemporary art including works by artists such as Pablo Picasso, Andy Warhol, Joan Mitchell, and Edward Ruscha.[6]

In the immediate aftermath of the onset of the COVID-19 pandemic, specifically between April 20 and 27, the online sales conducted by the auction house amounted to $41 million. This figure accounted for approximately 10% of the entire previous year's annual online sales, which had reached $483 million in 2019.[7] In the year 2022, Heritage Auctions accomplished remarkable sales surpassing $1.45 billion. This impressive figure does not include the charity auction organized by Heritage for Dmitry Muratov's Nobel Peace Prize, which amassed $103.5 million. The entirety of these proceeds was directed towards UNICEF to support humanitarian initiatives for refugee relief.[8]

Operations edit

On June 1, 2020, as a cost-cutting measure, Heritage Auctions consolidated three Dallas-area locations to a new world headquarters in Irving, located at the northwest corner of West Airport Freeway and Valley View Lane near Dallas Fort Worth International Airport.[9] The 160,000 square foot facility is located in the DFW Airport international trade zone and will house 450 of the company's 600 employees.[10] The company also has offices in New York located on Park Avenue.[2] Its New York operations are mostly geared towards the fine arts industry.[11] Heritage has a West Coast location in Beverly Hills, California, located on Olympic Boulevard.[2] In 2011, Heritage acquired Greg Martin Auctions in San Francisco, California, forming the auction house's division specializing in weapons and armament.[12]

Heritage expanded operations by adding an office in Hong Kong in 2015.[13] In spring 2017, the company formed a Florida branch with offices in Palm Beach.[14] In January 2017, company opened an office in Chicago, also, opened a new London office in 2017.[15]

In 2015 Heritage Auctions took over MPO located in IJsselstein, The Netherlands. Founded in 1988 as a coin and stamp fair organizer, Jacco Scheper and Huib Pelzer acquired the company in 1996 and three years later began auction operations. Through the merger with MPO Heritage Auctions also has a Belgium office located on the outskirts of Brussels in Zaventem.[16]

In 2023 sales were $1.76 billion – the highest in its 47-year history.[17] The 21% year-over-year increase was driven by records in many categories including coins in the Harry W. Bass Jr. collection, comics and comic art, and sports and entertainment memorabilia.[18]

Notable auctions edit

  • In October 2011, Heritage auctioned the personal property and movie memorabilia of the actor John Wayne for $5.4 million. The beret he wore in The Green Berets fetched $179,250.[19] The following month, a copy of Action Comics #1, previously owned by Nicolas Cage, sold for $2.16 million, beating the previous record price for the comic of $1.5 million.[20]
  • In December 2015, an auction brought in more than $3 million for memorabilia from Sylvester Stallone's personal collection.[21]
  • A baseball-themed print by American illustrator Norman Rockwell was sold by Heritage Auctions in August 2017 for $1.6 million. The work was a study of Rockwell's Tough Call.[22]
  • In a continuing series of auctions starting in 2018, Heritage Auctions is auctioning a collection of memorabilia from the estate of Neil Armstrong, who died in 2012.[23][24] The event was the first ever auction of the astronaut's personal collection and is billed to coincide with the 50th anniversary of the first landing on the Moon in 1969.[24] About 3,000 items were up for auction[25] and, as of October 2019, the auctions have brought in about $12 million.[26]
  • In January 2019, a rare 1943 Lincoln cent sold at Heritage auction for $204,000. The copper coin was created in error in 1943, when copper was meant to be reserved for the war effort.[27][28] An original 1930 ink-on-paper drawing from the first Tintin comic book, Tintin in the Land of the Soviets, was sold by Heritage Auctions in June 2019.[29][30] On November 20, 2019, Blueberry Custard (1961) by Wayne Thiebaud sold at a Heritage auction for $3.225 million, the second highest price brought in for a piece by the artist from Sacramento, California.[31] The next day a near-mint condition Marvel Comics #1 sold for $1.26 million, setting the record for the most expensive Marvel comic sold in a public auction.[32]
  • On December 13, 2020, a Wayne Gretzky 1979–80 O-Pee-Chee rookie card sold for $1.29 million, becoming the most expensive hockey card sold at auction and the first to break the million-dollar barrier.[33]
  • A US $20 bill with a Del Monte sticker sold for $396,000 on January 5, 2021 becoming the most expensive error note sold.[34]
  • A near-mint copy of Batman #1 from 1940 sold on January 14, 2021, for $2.22 million, setting a world record for a Batman comic book and the second most expensive comic ever sold at auction.[35]
  • A Pokémon First Edition Base Set Sealed Booster Box sold for a world record-setting $408,000 on January 17, 2021.
  • On January 24, 2021, Heritage Auctions sold the world's most valuable gold coin, a 1787 New York-style Brasher Doubloon, for $9.36 million.[36]
  • A signed Michael Jordan card fetched $1.44 million on February 4, 2021, making it the most expensive Jordan card ever sold at auction.[37]
  • The Paramount Collection of world and ancient coins reached $41,941,592 on March 25–27, 2021, making it the most valuable world and ancient coins auction. The auction included a $2.28 million world record for the most expensive British coin ever sold at public auction.[38]
  • An original poster promoting a 1953 Hank Williams concert in Canton, Ohio, on New Year's Day sold for a record $150,000 on May 1, 2021, beating out The Beatles as the world's most expensive concert poster ever sold at auction.[39]
  • The Joseph Christian Leyendecker painting Beat-up Boy, Football Hero, which appeared on the cover of The Saturday Evening Post, sold for a record $4.12 million on May 7, 2021. The previous world record for a J.C. Leyendecker original was set in December, when Sotheby's sold his 1930 work Carousel Ride for $516,100.
  • On May 9, 2021, a game-worn jersey belonging to Michael Jordan from his sophomore season at the University of North Carolina was sold for $1.38 million, making it the most expensive Jordan jersey sold.[40]
  • An unopened copy of Nintendo's Super Mario 64 from 1996 sold at auction for $1.56 million on July 11, 2021, a new record for a video game. The previous record was an unopened copy of Nintendo's The Legend of Zelda, which sold only two days earlier for $870,000.[41]
  • A copy of Amazing Fantasy #15 graded CGC 9.6 sold by Heritage Auctions in September 2021 set an all-time record price paid for any comic book at $3.6M, surpassing the $3.25M paid for an Action Comics #1 CGC 8.5, the first appearance of Superman, in April 2021.
  • In December 2021 Heritage Auctions sold a first edition Harry Potter and the Philosopher's Stone for $471,000, a record for the book with a first printing of 500.[42]
  • In January 2022 a single sheet of original comic artwork from page 25 of Marvel Comics' Secret Wars No. 8, showing the first appearance of Spider-Man's black suit, sold at auction for a record $3.36 million.[43]
  • In April 2022, Heritage Auctions broke the record for the highest priced concert poster with a $275,000 sale of a rare Beatles 1966 Shea Stadium poster. The previous record of $150,000, a poster for Hank Williams' last scheduled performance, was set by Heritage Auctions the previous year.[44]
  • In May 2022, an 1863 Liberty Double Eagle from The Bob R. Simpson Collection, the finest known example of ten to twelve remaining in all grades from a mintage of only 30 coins, more than doubled the previous auction record for this coin.
  • The original cover art for the first issue of Batman: The Dark Knight Returns achieved $2.4 million at a June 2022 Heritage Auctions sale, making it the most expensive American comic book cover art sold.[45]
  • Russian journalist Dmitry Muratov's Nobel Peace Prize, sold to benefit refugees from Ukraine through UNICEF. The medal sold on June 21, 2022, for US$103.5 million, the highest price ever recorded for a Nobel medal.[46][47]
  • Heritage auctioned a 1952 Topps Mickey Mantle baseball card on August 27, 2022, for $12.6 million, setting a new record. It was the first (and is thus far, the only) time a sports collectible item has ever sold at auction for an eight-figure price.[48]
  • Frank Frazetta’s painting Dark Kingdom (1976) sold for $6 million at Heritage Auctions in June 2023, setting a new record for a Frazetta painting, and any original comic book or fantasy art. Dark Kingdom was first used as the cover of Karl Edward Wagner's 1976 novel Dark Crusade and as the album cover for Molly Hatchet's 1979 Flirtin' With Disaster.[49]
  • The original cover art for the first issue of Batman: The Dark Knight Returns by Frank Miller achieved US$2.4 million in June 2022, making it the most expensive mainstream American comic book cover art sold publicly. Published by DC Comics in February 1986, issue #1 follows the superhero’s return after retiring 10 years earlier.[50]
  • In July 2023, Heritage Auctions sold a rare copy of the Declaration of Independence for $2,895,000.00. Printed in Massachusetts, only six copies of this broadside edition exist, and this is one of two in private hands.[51]
  • An X-wing fighter miniature built by Industrial Light & Magic and used in the original “Star Wars: Episode IV- A New Hope” (1977) sold for $3,135,000 on October 15, 2023.
  • In August 2023 Heritage Auctions concluded the auction of Harry W. Bass Jr. rare coins, achieving $83.6 million for the late oil man and philanthropist’s collection. The proceeds of the sale will benefit dozens of North Texas nonprofits supported by Bass’ foundation[52] plus a $40 million gift to found the Harry W. Bass Jr. School of Arts, Humanities, and Technology at the University of Texas at Dallas.[53]

Controversies edit

In 2009, Heritage Auctions faced a lawsuit from a former employee named Gary Hendershott. The allegation made in the lawsuit was that the company had participated in fraudulent activity by employing a "shill" bidder under the pseudonym "N.P. Gresham." This shill bidder was purportedly used to manipulate bidding prices artificially, an action claimed to be in violation of anti-racketeering laws.[54][55] The lawsuit was dismissed with prejudice.[56]

In 2012, the country of Mongolia sued Heritage Auctions for auctioning a 70-million-year-old fossil skeleton of a Tyrannosaurus bataar (75% complete) because the specimen came from Mongolia where exports of fossils are prohibited.[57] Heritage subsequently assisted the Mongolian government in resolving ownership and storing the specimen for the parties until it could be legally repatriated to Mongolia[58]

In 2014, Heritage Auctions took legal action against Christie's for hiring their primary expert in handbags and two additional handbag specialists. The lawsuit alleged that this act constituted a breach of contract and that it also involved the misappropriation of trade secrets.[59]

In 2016, Heritage Auctions filed a lawsuit against Christie's and its subsidiary Collectrium, alleging copyright infringement. The claim centered around the accusation that Collectrium had engaged in improper web scraping of three million of Heritage Auctions' listings. It's noteworthy that at that point in time, Collectrium had been recently acquired by Christie's in 2015.[60][61] In 2019 a judge ruled that Collectrium had to pay Heritage Auctions close to $1.8 million of the $49 million Heritage initially sought. The judge dismissed Heritage's claims of trespassing, unfair competition, and civil conspiracy, and also ruled that only Collectrium had any liability.[62]

In December 2020, Heritage Auctions sold a painting titled Eyes Upon You by Margaret Keane. It was later revealed that this painting had been stolen from its rightful owner back in 1972. Following an intervention facilitated by the FBI, the painting was returned to the owner's daughter. The buyer of the painting was issued a full refund. The true owners expressed their gratitude in a written statement, acknowledging both the FBI agent and Heritage Auctions for their roles in resolving the situation.[63]

In August 2021 YouTuber Karl Jobst released a video that claimed that Heritage Auctions, along with the grading company Wata Games, had artificially created a collectable bubble in the sealed video game market through a conflict of interests.[64][65] In a statement to Video Games Chronicle released following the video's publication, Heritage Auctions denied engaging in any illegal or unethical practices. Wata Games also denied the claims made in the video.[66][64]

References edit

  1. ^ a b c Wilonsky, Robert (April 27, 2006). "History for Sale". Dallas Observer. Retrieved December 20, 2018.
  2. ^ a b c d e f Pate, Steve (November 2011). "Rich Heritage". D Magazine. Retrieved December 20, 2018.
  3. ^ Channick, Robert (January 19, 2017). "Heritage Auctions brings its paddles to Chicago". Chicago Tribune. Retrieved December 20, 2018.
  4. ^ Gustines, George Gene (December 6, 2010). "Market Watch: Bidding on Luxury". T Magazine. The New York Times. Retrieved December 24, 2018.
  5. ^ Fitzpatrick, Tommye (December 3, 2012). "First Look: Heritage Auctions's Holiday Luxury Items From Chanel, Hermès, and Louis Vuitton". ELLE. Retrieved December 24, 2018.
  6. ^ Simek, Peter (May 21, 2013). "This Week Heritage Auctions Offers A Brief Look at a Trove of Modern and Contemporary Art". D Magazine. Retrieved December 24, 2018.
  7. ^ Justin Kamp, Heritage Auctions brought in $41 million from online sales in a week, Artsy.net, 5 May 2020
  8. ^ "Heritage Auctions Achieves $1.45 Billion in Record Year for Collectibles --Barrons". Retrieved December 29, 2022.
  9. ^ "Dallas-Based Heritage Auctions Relocates World Headquarters to New, 160,000 Square-Foot Campus". Retrieved June 4, 2020.
  10. ^ Montes, Bianca R. (June 3, 2020). "Dallas-Based Heritage Auctions Relocates World Headquarters to New, 160,000 Square-Foot Campus". D Magazine. Retrieved June 4, 2020.
  11. ^ Cascone, Sarah (September 23, 2015). "Heritage's First New York Modern Art Auction". Artnet News. Retrieved December 20, 2018.
  12. ^ Smith, Scott S. (April 24, 2013). "Sold! Steve Ivy Lifts Heritage Auctions To No. 1". Investor's Business Daily. Retrieved December 20, 2018.
  13. ^ Voien, Guelda (June 25, 2015). "Heritage Auctions Expands to Hong Kong". Observer. Retrieved December 24, 2018.
  14. ^ Valverde, Miriam (March 23, 2016). "Heritage Auctions expands operations in Florida". South Florida Sun-Sentinel. Retrieved December 24, 2018.
  15. ^ "Heritage Auctions Opens London Office and Gallery". CoinsWeekly. September 12, 2017.
  16. ^ Saunders-Watson, Catherine (August 4, 2015). "Heritage Auctions opens new European office in the Netherlands". Auction Central News. Retrieved December 8, 2023.
  17. ^ Schultz, Abby. "Auction Sales Dropped Nearly 19% in 2023, but Younger Buyers Are Stepping Up". www.barrons.com. Retrieved January 14, 2024.
  18. ^ "Heritage Auctions Celebrates Its Most Successful Year With Total Sales of $1.76 Billion in 2023". www.greysheet.com. Retrieved January 10, 2024.
  19. ^ "John Wayne auction rustles up $5.4M". CBS News. Associated Press. October 11, 2011. Retrieved February 20, 2020.
  20. ^ Silverleib, Alan (December 2, 2011). "Super price for Superman comic". CNN. Retrieved February 20, 2020.
  21. ^ "Sylvester Stallone's film memorabilia fetches $3 million at auction". Chicago Tribune. Associated Press. December 22, 2015. Retrieved February 20, 2020.
  22. ^ Richter, Marice; Herskovitz, Jon (August 21, 2017). Maler, Sandra (ed.). "'Print' on Texas family wall is original Rockwell, sells for $1.6 million". Reuters. Retrieved February 20, 2020.
  23. ^ "Neil Armstrong memorabilia fetches $7.5 million at auction". NBC News. Associated Press. November 4, 2018. Retrieved February 20, 2020.
  24. ^ a b Stuckey, Alex (November 2, 2018). "Neil Armstrong memorabilia brings more than $4 million in first day of Dallas auction". Houston Chronicle. Retrieved February 20, 2020.
  25. ^ Chang, Kenneth (September 28, 2018). "Neil Armstrong Walked on the Moon. To These Boys, He Was Just Dad". The New York Times. ISSN 0362-4331. Retrieved February 20, 2020.
  26. ^ Saker, Anne (October 23, 2019). "Get your bids ready: Fourth auction of Neil Armstrong's belongings begins Oct. 25". Cincinnati Enquirer. Retrieved February 20, 2020.
  27. ^ Zetlin, Minda (July 18, 2019). "These valuable pennies are worth up to $200,000—and they might be in your pocket". CNBC. Retrieved February 20, 2020.
  28. ^ Simon, Darran (January 10, 2019). "Rare 1943 copper coin fetches a pretty penny in auction: $204,000". CNN. Retrieved February 20, 2020.
  29. ^ Kim, Allen (June 11, 2019). "Tintin original cover art bought at auction for more than $1 million". CNN. Retrieved February 20, 2020.
  30. ^ "'TinTin' artwork sells for $1.1 million at auction". Deutsche Welle. June 9, 2019. Retrieved February 20, 2020.
  31. ^ Ervin, Mack III (November 29, 2019). "Sacramento artist Thiebaud's Blueberry Custard fetches $3.225 million at auction". The Sacramento Bee. Retrieved February 20, 2020.
  32. ^ Genovese, Daniella (November 22, 2019). "Marvel Comics 1 torches record with $1.26M sale at auction". FOXBusiness. Retrieved February 20, 2020.
  33. ^ Leahy, Sean (December 11, 2020). "Wayne Gretzky rookie card sets record with $1.3M sale at auction". ProHockeyTalk | NBC Sports. Retrieved July 19, 2021.
  34. ^ CoinNews.net. ""Del Monte" $20 Sets $396,000 World Record in Banknote Errors | CoinNews". Retrieved August 18, 2021.
  35. ^ "Holy hammer! Near mint copy of Batman #1 sells for record $2.2m at Heritage Auctions". www.theartnewspaper.com. Retrieved July 22, 2021.
  36. ^ "Gold coins lose none of their shine as "Brasher" doubloon sells for a record price". MoneyWeek. Retrieved July 19, 2021.
  37. ^ Block, Fang. "Autographed Michael Jordan Card Sells for $1.44 Million". www.barrons.com. Retrieved July 19, 2021.
  38. ^ "NGC-certified Edward VIII Gold 5 Sovereign Realizes $2.28 Million, Smashing the Record for a British Coin Sold at Auction | NGC". www.ngccoin.uk. Retrieved August 18, 2021.
  39. ^ Treadwell, Jaine (May 8, 2021). "Poster from Hank Williams' last concert sells for $150,000". The Troy Messenger. Retrieved August 18, 2021.
  40. ^ "Michael Jordan's game-worn North Carolina jersey sold for record $1.38 million". CNN. Reuters. Retrieved August 18, 2021.
  41. ^ "Unopened copy of Nintendo's Super Mario 64 from 1996 sells for $1.56 million". www.cbsnews.com. Retrieved July 22, 2021.
  42. ^ "'Harry Potter' first edition sells for smashing $471,000". Reuters. December 9, 2021. Retrieved December 9, 2022.
  43. ^ "Spider-Man comic page sells for record $3.36M at auction". Associated Press. January 14, 2022. Retrieved December 9, 2022.
  44. ^ "Rare Buddy Holly poster sells for record-breaking $447,000 at auction". www.yahoo.com. Retrieved December 9, 2022.
  45. ^ "Heritage Auctions, USA-Dallas". CoinsWeekly. January 27, 2022. Retrieved December 9, 2022.
  46. ^ Richardson, Kalia (June 21, 2022). "Russian Journalist's Nobel Medal Sells for $103.5 Million". The New York Times. ISSN 0362-4331. Retrieved June 21, 2022.
  47. ^ The Associated Press (June 20, 2022). "Nobel sold for Ukrainian kids shatters record at $103.5M". POLITICO. Retrieved June 21, 2022.
  48. ^ Albeck-Ripka, Livia (August 28, 2022). "Baseball Card Sold for $12.6 Million, Breaking Record. The 1952 Topps Mickey Mantle baseball card is the most valuable piece of sports memorabilia ever to be sold at auction". The New York Times.
  49. ^ "A Frank Frazetta Painting of a Brawny Warrior Sold for $6 Million, Making It the World's Highest-Priced Work of Comic Book or Fantasy Art Ever". Artnet News. June 28, 2023.
  50. ^ "'Batman: The Dark Knight Returns #1' Original Cover Art Sells for $2.4 Million". www.barrons.com.
  51. ^ "Historic broadside of Declaration of Independence goes for over $2.8 million at auction". The Washington Times.
  52. ^ "Late Dallas oilman's $60 million rare coin collection to be auctioned". Dallas News. July 13, 2022.
  53. ^ "Harry W. Bass Jr. Foundation's $40M gift to UT Dallas fuels excellence in arts". Dallas News. November 2, 2023.
  54. ^ Thackeray, Lorna. "Kortlander seeks role in auction suit". The Billings Gazette. Retrieved August 31, 2021.
  55. ^ Duin, Steve (September 15, 2009). "Lifting the Veil at Heritage Auctions?". oregonlive. The Oregonian. Retrieved August 31, 2021.
  56. ^ "4-1-2010 - Motion - Dismiss CV - DC0906552 - 1683658 - MOTION - DISMISS - GARY HENDERSHOTT vs. HERITAGE AUCTIONS INC et al". trellis.law. Retrieved December 9, 2022.
  57. ^ Eric Nicholson, Heritage Auctions is Being Sued by Mongolia -- Yes, the Country -- Over the Sale of a Dinosaur, Dallasobserver.com, 21 May 2012
  58. ^ Eric Nicholson, Heritage Auctions Working With Mongolia to Determine if Dinosaur it Sold is, in Fact, Mongolian Dallasobserver.com, 29 May 2012
  59. ^ Julie Creswell, George Gene Gustines, High-End Hermès Handbags at Center of Suit Against Christie’s, Nytimes.com, 13 June 2014
  60. ^ "Auction Houses Face Off in Website Data Scraping Lawsuit". NBC 5 Dallas-Fort Worth. Retrieved August 31, 2021.
  61. ^ "Christie's Buys Collectrium for $16 Million". Artnet News. February 11, 2015. Retrieved August 31, 2021.
  62. ^ "A Christie's-Owned Tech Company Must Pay Heritage Auctions $1.8 Million for Data Theft, a Court Rules". Artnet News. August 1, 2019. Retrieved August 31, 2021.
  63. ^ Stolen Artwork Sold at Auction To Be Returned to Woman Depicted in Painting, Nbcdfw.com, 21 July 2021
  64. ^ a b "YouTuber Accuses Million-Dollar Retro Game Sales Of Being Scams". Kotaku. Retrieved August 31, 2021.
  65. ^ "The $2 Million Mario Bros. Auction May Have Been Rigged". Digital Trends. August 25, 2021. Retrieved August 31, 2021.
  66. ^ "Report alleges auction and grading 'fraud' is behind recent surge in retro game prices". VGC. August 25, 2021. Retrieved August 31, 2021.

External links edit

  • Official website

February 15, 2024
heritage, auctions, american, multi, national, auction, house, based, dallas, texas, founded, 1976, heritage, auctioneer, numismatic, collections, comics, fine, books, luxury, accessories, real, estate, memorabilia, from, film, music, history, sports, company,. Heritage Auctions is an American multi national auction house based in Dallas Texas Founded in 1976 Heritage is an auctioneer of numismatic collections comics fine art books luxury accessories real estate and memorabilia from film music history and sports Heritage AuctionsCompany typePrivateFounded1976 48 years ago 1976 in Dallas Texas U S FounderSteve Ivy founder and CEO Jim Halperin co founder HeadquartersDallas Texas U S ProductsAntiques and collectiblesServicesAuctioneerWebsiteha wbr com Contents 1 History 2 Operations 3 Notable auctions 4 Controversies 5 References 6 External linksHistory editIn 1982 Heritage Auctions became an equal partnership between two collectors Steve Ivy and Jim Halperin 1 In 1967 Ivy dropped out of the University of Texas at Austin to form Steve Ivy Rare Coin Co in Dallas Texas 2 In 1971 while still a freshman at Harvard University Halperin established New England Rare Coin Galleries He would later drop out of school In the same vein Ivy the one who initially formed Heritage Auctions in Dallas in 1976 1 transitioned from his earlier smaller enterprise These two individuals frequently crossed paths at industry trade shows and auctions In 1982 Halperin sold his Boston based business and relocated to Dallas to join Ivy Alongside him he brought Marc Emory a partner who currently oversees a segment of Heritage s European operations Another key addition to the company was Greg Rohan who joined in 1986 and now serves as the president of the company 2 3 Besides Ivy Halperin Rohan and Emory the company includes four other partners Paul Minshull Ryan Carroll Todd Imhof and Cristiano Bierrenbach 2 In 1996 Heritage Auctions initiated a website that facilitated online auctions for buying and selling coins This online platform significantly expanded the pool of potential sellers and buyers for the company Following Halperin s guidance Heritage took steps to broaden its business scope by incorporating collectibles beyond numismatics This diversification began with comic book auctions in 2001 Subsequently in 2003 the company introduced a memorabilia department which hosted its inaugural auction valued at approximately 2 million 2 During the mid 2000s Heritage Auctions ventured into the market of music entertainment and film memorabilia By April 2006 the auction house had already conducted its third biennial auction featuring collectibles previously owned by renowned actors musicians directors and other figures in the film industry These auctions showcased diverse collections comprising props set elements and attire from some of the most iconic films and television series in history Additionally personal items belonging to various musical artists were also part of these auctions 1 In 2010 Heritage launched its luxury items division which includes jewelry handbags and other accessories 4 In some instances rare items from these auctions have sold for over two hundred thousand dollars 5 By 2013 the auction house was also auctioning modern and contemporary art including works by artists such as Pablo Picasso Andy Warhol Joan Mitchell and Edward Ruscha 6 In the immediate aftermath of the onset of the COVID 19 pandemic specifically between April 20 and 27 the online sales conducted by the auction house amounted to 41 million This figure accounted for approximately 10 of the entire previous year s annual online sales which had reached 483 million in 2019 7 In the year 2022 Heritage Auctions accomplished remarkable sales surpassing 1 45 billion This impressive figure does not include the charity auction organized by Heritage for Dmitry Muratov s Nobel Peace Prize which amassed 103 5 million The entirety of these proceeds was directed towards UNICEF to support humanitarian initiatives for refugee relief 8 Operations editOn June 1 2020 as a cost cutting measure Heritage Auctions consolidated three Dallas area locations to a new world headquarters in Irving located at the northwest corner of West Airport Freeway and Valley View Lane near Dallas Fort Worth International Airport 9 The 160 000 square foot facility is located in the DFW Airport international trade zone and will house 450 of the company s 600 employees 10 The company also has offices in New York located on Park Avenue 2 Its New York operations are mostly geared towards the fine arts industry 11 Heritage has a West Coast location in Beverly Hills California located on Olympic Boulevard 2 In 2011 Heritage acquired Greg Martin Auctions in San Francisco California forming the auction house s division specializing in weapons and armament 12 Heritage expanded operations by adding an office in Hong Kong in 2015 13 In spring 2017 the company formed a Florida branch with offices in Palm Beach 14 In January 2017 company opened an office in Chicago also opened a new London office in 2017 15 In 2015 Heritage Auctions took over MPO located in IJsselstein The Netherlands Founded in 1988 as a coin and stamp fair organizer Jacco Scheper and Huib Pelzer acquired the company in 1996 and three years later began auction operations Through the merger with MPO Heritage Auctions also has a Belgium office located on the outskirts of Brussels in Zaventem 16 In 2023 sales were 1 76 billion the highest in its 47 year history 17 The 21 year over year increase was driven by records in many categories including coins in the Harry W Bass Jr collection comics and comic art and sports and entertainment memorabilia 18 Notable auctions editIn October 2011 Heritage auctioned the personal property and movie memorabilia of the actor John Wayne for 5 4 million The beret he wore in The Green Berets fetched 179 250 19 The following month a copy of Action Comics 1 previously owned by Nicolas Cage sold for 2 16 million beating the previous record price for the comic of 1 5 million 20 In December 2015 an auction brought in more than 3 million for memorabilia from Sylvester Stallone s personal collection 21 A baseball themed print by American illustrator Norman Rockwell was sold by Heritage Auctions in August 2017 for 1 6 million The work was a study of Rockwell s Tough Call 22 In a continuing series of auctions starting in 2018 Heritage Auctions is auctioning a collection of memorabilia from the estate of Neil Armstrong who died in 2012 23 24 The event was the first ever auction of the astronaut s personal collection and is billed to coincide with the 50th anniversary of the first landing on the Moon in 1969 24 About 3 000 items were up for auction 25 and as of October 2019 the auctions have brought in about 12 million 26 In January 2019 a rare 1943 Lincoln cent sold at Heritage auction for 204 000 The copper coin was created in error in 1943 when copper was meant to be reserved for the war effort 27 28 An original 1930 ink on paper drawing from the first Tintin comic book Tintin in the Land of the Soviets was sold by Heritage Auctions in June 2019 29 30 On November 20 2019 Blueberry Custard 1961 by Wayne Thiebaud sold at a Heritage auction for 3 225 million the second highest price brought in for a piece by the artist from Sacramento California 31 The next day a near mint condition Marvel Comics 1 sold for 1 26 million setting the record for the most expensive Marvel comic sold in a public auction 32 On December 13 2020 a Wayne Gretzky 1979 80 O Pee Chee rookie card sold for 1 29 million becoming the most expensive hockey card sold at auction and the first to break the million dollar barrier 33 A US 20 bill with a Del Monte sticker sold for 396 000 on January 5 2021 becoming the most expensive error note sold 34 A near mint copy of Batman 1 from 1940 sold on January 14 2021 for 2 22 million setting a world record for a Batman comic book and the second most expensive comic ever sold at auction 35 A Pokemon First Edition Base Set Sealed Booster Box sold for a world record setting 408 000 on January 17 2021 On January 24 2021 Heritage Auctions sold the world s most valuable gold coin a 1787 New York style Brasher Doubloon for 9 36 million 36 A signed Michael Jordan card fetched 1 44 million on February 4 2021 making it the most expensive Jordan card ever sold at auction 37 The Paramount Collection of world and ancient coins reached 41 941 592 on March 25 27 2021 making it the most valuable world and ancient coins auction The auction included a 2 28 million world record for the most expensive British coin ever sold at public auction 38 An original poster promoting a 1953 Hank Williams concert in Canton Ohio on New Year s Day sold for a record 150 000 on May 1 2021 beating out The Beatles as the world s most expensive concert poster ever sold at auction 39 The Joseph Christian Leyendecker painting Beat up Boy Football Hero which appeared on the cover of The Saturday Evening Post sold for a record 4 12 million on May 7 2021 The previous world record for a J C Leyendecker original was set in December when Sotheby s sold his 1930 work Carousel Ride for 516 100 On May 9 2021 a game worn jersey belonging to Michael Jordan from his sophomore season at the University of North Carolina was sold for 1 38 million making it the most expensive Jordan jersey sold 40 An unopened copy of Nintendo s Super Mario 64 from 1996 sold at auction for 1 56 million on July 11 2021 a new record for a video game The previous record was an unopened copy of Nintendo s The Legend of Zelda which sold only two days earlier for 870 000 41 A copy of Amazing Fantasy 15 graded CGC 9 6 sold by Heritage Auctions in September 2021 set an all time record price paid for any comic book at 3 6M surpassing the 3 25M paid for an Action Comics 1 CGC 8 5 the first appearance of Superman in April 2021 In December 2021 Heritage Auctions sold a first edition Harry Potter and the Philosopher s Stone for 471 000 a record for the book with a first printing of 500 42 In January 2022 a single sheet of original comic artwork from page 25 of Marvel Comics Secret Wars No 8 showing the first appearance of Spider Man s black suit sold at auction for a record 3 36 million 43 In April 2022 Heritage Auctions broke the record for the highest priced concert poster with a 275 000 sale of a rare Beatles 1966 Shea Stadium poster The previous record of 150 000 a poster for Hank Williams last scheduled performance was set by Heritage Auctions the previous year 44 In May 2022 an 1863 Liberty Double Eagle from The Bob R Simpson Collection the finest known example of ten to twelve remaining in all grades from a mintage of only 30 coins more than doubled the previous auction record for this coin The original cover art for the first issue of Batman The Dark Knight Returns achieved 2 4 million at a June 2022 Heritage Auctions sale making it the most expensive American comic book cover art sold 45 Russian journalist Dmitry Muratov s Nobel Peace Prize sold to benefit refugees from Ukraine through UNICEF The medal sold on June 21 2022 for US 103 5 million the highest price ever recorded for a Nobel medal 46 47 Heritage auctioned a 1952 Topps Mickey Mantle baseball card on August 27 2022 for 12 6 million setting a new record It was the first and is thus far the only time a sports collectible item has ever sold at auction for an eight figure price 48 Frank Frazetta s painting Dark Kingdom 1976 sold for 6 million at Heritage Auctions in June 2023 setting a new record for a Frazetta painting and any original comic book or fantasy art Dark Kingdom was first used as the cover of Karl Edward Wagner s 1976 novel Dark Crusade and as the album cover for Molly Hatchet s 1979 Flirtin With Disaster 49 The original cover art for the first issue of Batman The Dark Knight Returns by Frank Miller achieved US 2 4 million in June 2022 making it the most expensive mainstream American comic book cover art sold publicly Published by DC Comics in February 1986 issue 1 follows the superhero s return after retiring 10 years earlier 50 In July 2023 Heritage Auctions sold a rare copy of the Declaration of Independence for 2 895 000 00 Printed in Massachusetts only six copies of this broadside edition exist and this is one of two in private hands 51 An X wing fighter miniature built by Industrial Light amp Magic and used in the original Star Wars Episode IV A New Hope 1977 sold for 3 135 000 on October 15 2023 In August 2023 Heritage Auctions concluded the auction of Harry W Bass Jr rare coins achieving 83 6 million for the late oil man and philanthropist s collection The proceeds of the sale will benefit dozens of North Texas nonprofits supported by Bass foundation 52 plus a 40 million gift to found the Harry W Bass Jr School of Arts Humanities and Technology at the University of Texas at Dallas 53 Controversies editIn 2009 Heritage Auctions faced a lawsuit from a former employee named Gary Hendershott The allegation made in the lawsuit was that the company had participated in fraudulent activity by employing a shill bidder under the pseudonym N P Gresham This shill bidder was purportedly used to manipulate bidding prices artificially an action claimed to be in violation of anti racketeering laws 54 55 The lawsuit was dismissed with prejudice 56 In 2012 the country of Mongolia sued Heritage Auctions for auctioning a 70 million year old fossil skeleton of a Tyrannosaurus bataar 75 complete because the specimen came from Mongolia where exports of fossils are prohibited 57 Heritage subsequently assisted the Mongolian government in resolving ownership and storing the specimen for the parties until it could be legally repatriated to Mongolia 58 In 2014 Heritage Auctions took legal action against Christie s for hiring their primary expert in handbags and two additional handbag specialists The lawsuit alleged that this act constituted a breach of contract and that it also involved the misappropriation of trade secrets 59 In 2016 Heritage Auctions filed a lawsuit against Christie s and its subsidiary Collectrium alleging copyright infringement The claim centered around the accusation that Collectrium had engaged in improper web scraping of three million of Heritage Auctions listings It s noteworthy that at that point in time Collectrium had been recently acquired by Christie s in 2015 60 61 In 2019 a judge ruled that Collectrium had to pay Heritage Auctions close to 1 8 million of the 49 million Heritage initially sought The judge dismissed Heritage s claims of trespassing unfair competition and civil conspiracy and also ruled that only Collectrium had any liability 62 In December 2020 Heritage Auctions sold a painting titled Eyes Upon You by Margaret Keane It was later revealed that this painting had been stolen from its rightful owner back in 1972 Following an intervention facilitated by the FBI the painting was returned to the owner s daughter The buyer of the painting was issued a full refund The true owners expressed their gratitude in a written statement acknowledging both the FBI agent and Heritage Auctions for their roles in resolving the situation 63 In August 2021 YouTuber Karl Jobst released a video that claimed that Heritage Auctions along with the grading company Wata Games had artificially created a collectable bubble in the sealed video game market through a conflict of interests 64 65 In a statement to Video Games Chronicle released following the video s publication Heritage Auctions denied engaging in any illegal or unethical practices Wata Games also denied the claims made in the video 66 64 References edit a b c Wilonsky Robert April 27 2006 History for Sale Dallas Observer Retrieved December 20 2018 a b c d e f Pate Steve November 2011 Rich Heritage D Magazine Retrieved December 20 2018 Channick Robert January 19 2017 Heritage Auctions brings its paddles to Chicago Chicago Tribune Retrieved December 20 2018 Gustines George Gene December 6 2010 Market Watch Bidding on Luxury T Magazine The New York Times Retrieved December 24 2018 Fitzpatrick Tommye December 3 2012 First Look Heritage Auctions s Holiday Luxury Items From Chanel Hermes and Louis Vuitton ELLE Retrieved December 24 2018 Simek Peter May 21 2013 This Week Heritage Auctions Offers A Brief Look at a Trove of Modern and Contemporary Art D Magazine Retrieved December 24 2018 Justin Kamp Heritage Auctions brought in 41 million from online sales in a week Artsy net 5 May 2020 Heritage Auctions Achieves 1 45 Billion in Record Year for Collectibles Barrons Retrieved December 29 2022 Dallas Based Heritage Auctions Relocates World Headquarters to New 160 000 Square Foot Campus Retrieved June 4 2020 Montes Bianca R June 3 2020 Dallas Based Heritage Auctions Relocates World Headquarters to New 160 000 Square Foot Campus D Magazine Retrieved June 4 2020 Cascone Sarah September 23 2015 Heritage s First New York Modern Art Auction Artnet News Retrieved December 20 2018 Smith Scott S April 24 2013 Sold Steve Ivy Lifts Heritage Auctions To No 1 Investor s Business Daily Retrieved December 20 2018 Voien Guelda June 25 2015 Heritage Auctions Expands to Hong Kong Observer Retrieved December 24 2018 Valverde Miriam March 23 2016 Heritage Auctions expands operations in Florida South Florida Sun Sentinel Retrieved December 24 2018 Heritage Auctions Opens London Office and Gallery CoinsWeekly September 12 2017 Saunders Watson Catherine August 4 2015 Heritage Auctions opens new European office in the Netherlands Auction Central News Retrieved December 8 2023 Schultz Abby Auction Sales Dropped Nearly 19 in 2023 but Younger Buyers Are Stepping Up www barrons com Retrieved January 14 2024 Heritage Auctions Celebrates Its Most Successful Year With Total Sales of 1 76 Billion in 2023 www greysheet com Retrieved January 10 2024 John Wayne auction rustles up 5 4M CBS News Associated Press October 11 2011 Retrieved February 20 2020 Silverleib Alan December 2 2011 Super price for Superman comic CNN Retrieved February 20 2020 Sylvester Stallone s film memorabilia fetches 3 million at auction Chicago Tribune Associated Press December 22 2015 Retrieved February 20 2020 Richter Marice Herskovitz Jon August 21 2017 Maler Sandra ed Print on Texas family wall is original Rockwell sells for 1 6 million Reuters Retrieved February 20 2020 Neil Armstrong memorabilia fetches 7 5 million at auction NBC News Associated Press November 4 2018 Retrieved February 20 2020 a b Stuckey Alex November 2 2018 Neil Armstrong memorabilia brings more than 4 million in first day of Dallas auction Houston Chronicle Retrieved February 20 2020 Chang Kenneth September 28 2018 Neil Armstrong Walked on the Moon To These Boys He Was Just Dad The New York Times ISSN 0362 4331 Retrieved February 20 2020 Saker Anne October 23 2019 Get your bids ready Fourth auction of Neil Armstrong s belongings begins Oct 25 Cincinnati Enquirer Retrieved February 20 2020 Zetlin Minda July 18 2019 These valuable pennies are worth up to 200 000 and they might be in your pocket CNBC Retrieved February 20 2020 Simon Darran January 10 2019 Rare 1943 copper coin fetches a pretty penny in auction 204 000 CNN Retrieved February 20 2020 Kim Allen June 11 2019 Tintin original cover art bought at auction for more than 1 million CNN Retrieved February 20 2020 TinTin artwork sells for 1 1 million at auction Deutsche Welle June 9 2019 Retrieved February 20 2020 Ervin Mack III November 29 2019 Sacramento artist Thiebaud s Blueberry Custard fetches 3 225 million at auction The Sacramento Bee Retrieved February 20 2020 Genovese Daniella November 22 2019 Marvel Comics 1 torches record with 1 26M sale at auction FOXBusiness Retrieved February 20 2020 Leahy Sean December 11 2020 Wayne Gretzky rookie card sets record with 1 3M sale at auction ProHockeyTalk NBC Sports Retrieved July 19 2021 CoinNews net Del Monte 20 Sets 396 000 World Record in Banknote Errors CoinNews Retrieved August 18 2021 Holy hammer Near mint copy of Batman 1 sells for record 2 2m at Heritage Auctions www theartnewspaper com Retrieved July 22 2021 Gold coins lose none of their shine as Brasher doubloon sells for a record price MoneyWeek Retrieved July 19 2021 Block Fang Autographed Michael Jordan Card Sells for 1 44 Million www barrons com Retrieved July 19 2021 NGC certified Edward VIII Gold 5 Sovereign Realizes 2 28 Million Smashing the Record for a British Coin Sold at Auction NGC www ngccoin uk Retrieved August 18 2021 Treadwell Jaine May 8 2021 Poster from Hank Williams last concert sells for 150 000 The Troy Messenger Retrieved August 18 2021 Michael Jordan s game worn North Carolina jersey sold for record 1 38 million CNN Reuters Retrieved August 18 2021 Unopened copy of Nintendo s Super Mario 64 from 1996 sells for 1 56 million www cbsnews com Retrieved July 22 2021 Harry Potter first edition sells for smashing 471 000 Reuters December 9 2021 Retrieved December 9 2022 Spider Man comic page sells for record 3 36M at auction Associated Press January 14 2022 Retrieved December 9 2022 Rare Buddy Holly poster sells for record breaking 447 000 at auction www yahoo com Retrieved December 9 2022 Heritage Auctions USA Dallas CoinsWeekly January 27 2022 Retrieved December 9 2022 Richardson Kalia June 21 2022 Russian Journalist s Nobel Medal Sells for 103 5 Million The New York Times ISSN 0362 4331 Retrieved June 21 2022 The Associated Press June 20 2022 Nobel sold for Ukrainian kids shatters record at 103 5M POLITICO Retrieved June 21 2022 Albeck Ripka Livia August 28 2022 Baseball Card Sold for 12 6 Million Breaking Record The 1952 Topps Mickey Mantle baseball card is the most valuable piece of sports memorabilia ever to be sold at auction The New York Times A Frank Frazetta Painting of a Brawny Warrior Sold for 6 Million Making It the World s Highest Priced Work of Comic Book or Fantasy Art Ever Artnet News June 28 2023 Batman The Dark Knight Returns 1 Original Cover Art Sells for 2 4 Million www barrons com Historic broadside of Declaration of Independence goes for over 2 8 million at auction The Washington Times Late Dallas oilman s 60 million rare coin collection to be auctioned Dallas News July 13 2022 Harry W Bass Jr Foundation s 40M gift to UT Dallas fuels excellence in arts Dallas News November 2 2023 Thackeray Lorna Kortlander seeks role in auction suit The Billings Gazette Retrieved August 31 2021 Duin Steve September 15 2009 Lifting the Veil at Heritage Auctions oregonlive The Oregonian Retrieved August 31 2021 4 1 2010 Motion Dismiss CV DC0906552 1683658 MOTION DISMISS GARY HENDERSHOTT vs HERITAGE AUCTIONS INC et al trellis law Retrieved December 9 2022 Eric Nicholson Heritage Auctions is Being Sued by Mongolia Yes the Country Over the Sale of a Dinosaur Dallasobserver com 21 May 2012 Eric Nicholson Heritage Auctions Working With Mongolia to Determine if Dinosaur it Sold is in Fact Mongolian Dallasobserver com 29 May 2012 Julie Creswell George Gene Gustines High End Hermes Handbags at Center of Suit Against Christie s Nytimes com 13 June 2014 Auction Houses Face Off in Website Data Scraping Lawsuit NBC 5 Dallas Fort Worth Retrieved August 31 2021 Christie s Buys Collectrium for 16 Million Artnet News February 11 2015 Retrieved August 31 2021 A Christie s Owned Tech Company Must Pay Heritage Auctions 1 8 Million for Data Theft a Court Rules Artnet News August 1 2019 Retrieved August 31 2021 Stolen Artwork Sold at Auction To Be Returned to Woman Depicted in Painting Nbcdfw com 21 July 2021 a b YouTuber Accuses Million Dollar Retro Game Sales Of Being Scams Kotaku Retrieved August 31 2021 The 2 Million Mario Bros Auction May Have Been Rigged Digital Trends August 25 2021 Retrieved August 31 2021 Report alleges auction and grading fraud is behind recent surge in retro game prices VGC August 25 2021 Retrieved August 31 2021 External links editOfficial website Retrieved from https en wikipedia org w index php title Heritage Auctions amp oldid 1195520694, wikipedia, wiki, book, books, library,

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