Heritage Auctions Announces Record First Quarter Sales Surpassing $337 Million
Sales Of U.S. And World Coins And Sports Set Records, Firm Tracks 80 Percent Of Bids From Online Sources
April 30, 2021
Heritage Auctions reported total first quarter sales of $337,410,572, an increase of 16 percent over the same period last year. Revenue was driven by world record-breaking sales of U.S. and world and ancient coins, comics and comic art, and sports memorabilia. Even throughout the COVID-19 pandemic, sales show steady, year-over-year first quarter growth, from a 7-percent increase from 2019 to 2020 to this years 16-percent increase. This double-digit growth comes at a time when Heritage is making its most significant moves in the last 40 years, said Steve Ivy, CEO of Heritage Auctions. The remarkable results also speak to the innovative and tireless teamwork of Heritages employees. U.S., World and Ancient Coins Heritage started the year setting world records among sales of U.S. coins. In January, the firm set the world record when it sold the worlds most valuable gold coin for $9,360,000. It was the finest example of the famed 1787 Brasher Doubloon, and was won by a bidder who had never before purchased a coin at auction. The Doubloon took top lot honors in the firms Jan. 21 to 25 numismatic events, which totaled more than $90.68 million. The winner was overjoyed, said Greg Rohan, president of Heritage Auctions, who fielded the phone bid with the successful buyer of the Brasher Doubloon. All told, the new client purchased almost $12 million in U.S. coins. The worlds most expensive British coin, which sold for $2.28 million in March, set the high-water mark for Heritages presentation of the Paramount Collection, a grouping of more than 700 world and ancient coins widely considered the finest offered at auction in at least a generation. The collection of world and ancient coins surpassed $41,941,592, setting world records for the most expensive coins sold from at least 12 different countries. Sports Collectibles In February, the firms Sports collectibles category fueled $42 million in monthly sales, a record-shattering mark that included the industrys most valuable sports auction at $32.7 million. Highlights included the world record for the most expensive Michael Jordan card, which realized $1.4 million, the $2.5 million sale of a 1909 Honus Wagner card and the first Reggie Jackson cardboard to break the million-dollar mark. Heritage also holds the title as the first auction house to offer an NBA Top Shot, with a Zion Williamson Series 1 Rookie Debut #d 1/192 realizing $162,000. Comics and Original Comic Art World records started rolling in at the beginning of the year, as a copy of 1940s Batman #1 sold for $2.22 million to a bidder who had never purchased a comic book at auction before. The record kicked off a four-day event that realized $12 million, more than 50 percent above pre-sale estimates. The auction also marked the sale of a Pokmon First Edition Base Set Sealed Booster Box (Wizards of the Coast, 1999), which set a world record when it ended at $408,000. In March, an auction of International Comic and Animation Art broke $1.57 million. The nearly sold-out auction set a world artist auction record for acclaimed award-winner Charles Burns, when his cover to 1982s RAW No. 4, Art Spiegelman and wife Francoise Moulys beloved international comics anthology, realized $87,500. The auction closely followed the record-setting sales in the firms weekly auctions of Comics and Comic Art, which set company records of $621,231 Feb. 1 and nearly $700,000 Feb. 15. The totals smashed the previous record for a weekly auction, when Heritages weekly total reached $573,095 in March 2019. Weve seen an ever-increasing number of bidders participating in these online auctions, resulting in near back-to-back record weekly sales, said Jim Halperin, co-founder of Heritage Auctions. The market has never been better for vintage comics and comic art, and were seeing that play out week after week. March sales set the stage to for the firms early second quarter April 1 to 4 Comic and Comic Art Auction, which set the world record for the industrys largest auction of its kind with more than $16.5 million in total sales, including $3.3 million worth of vintage video games, which included the worlds most expensive video game ever sold when a 1986 copy of Super Mario Bros. sold for $660,000. Targeted Growth Additional important, first-quarter developments include an increase in the number of online-bidder members from 1.2 million to 1.4 million. Online bidders won 80 percent of the auctions by value, another record high. Profiles in History founder Joseph Maddalena was welcomed to the firm. Maddalena, who over 35 years built his auction house into the worlds largest auctioneer of Hollywood memorabilia and popular cultures most coveted keepsakes, was named executive vice president. In Focus, an ongoing, monthly series of artist-focused auctions created to strengthen Heritages position in the Modern and Contemporary Art space, was introduced in February. Successful sales include those dedicated to artworks by Banksy and Arsham. Also, in February, the firm broke new ground in Urban Art with RETROSPECTIVE, an online auction which handily surpassed its high estimate. To learn more, visit www.HA.com.
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