Consignment Checks - REA Goldin Lelands (SCP Auctions added 12/7)

[Shoeless Moe]

you were correct sir....



......anyone else gets theirs from REA, Goldin or Lelands, feel free to post. I'll post when my Goldin one comes.

I know of one Auction House where its a month to a month and a half before you get the check. That's just too long. I think within 2 weeks is perfect.

[gnaz01]

Originally Posted by Shoeless Moe

you were correct sir....



......anyone else gets theirs from REA, Goldin or Lelands, feel free to post. I'll post when my Goldin one comes.

I know of one Auction House where its a month to a month and a half before you get the check. That's just too long. I think within 2 weeks is perfect.

Alas, not today but I have no doubts about Brian and team......

[khkco4bls]

I had 59 lots in REA SO I can see it taking longer.

[yanks12025]

Wouldn't be a shock if a auction house saw this thread and made sure to send the check out quicker to sort of promote fast consignor payments. Because isn't REA one of the auction houses not to accept credit cards. So that buyer must have overnight their payment.

But pretty cool to get it after only 5 days.

[Shoeless Moe]

Originally Posted by yanks12025

Wouldn't be a shock if a auction house saw this thread and made sure to send the check out quicker to sort of promote fast consignor payments. Because isn't REA one of the auction houses not to accept credit cards. So that buyer must have overnight their payment.

But pretty cool to get it after only 5 days.

Brock, your comment made me curious so I dug through my records, and had to check the time it took when I consigned in the Spring auction, got the check 6 days later. So here 5, in the Spring 6, so needless to say fffffffast!!!

[glchen]

Originally Posted by yanks12025

Wouldn't be a shock if a auction house saw this thread and made sure to send the check out quicker to sort of promote fast consignor payments. Because isn't REA one of the auction houses not to accept credit cards. So that buyer must have overnight their payment.

But pretty cool to get it after only 5 days.

I seriously doubt that REA received payment on that consignment yet (although I guess it could definitely be possible, especially if the payment were wired). I'm guessing that either the total value of the consignments was relatively small and/or that the winners were very trusted buyers who have a long history of excellent payment history with REA. Or those winners have consignments at REA already which REA can use as collateral or something similar.

[Wolverine]

Originally Posted by Shoeless Moe

you were correct sir....



......anyone else gets theirs from REA, Goldin or Lelands, feel free to post. I'll post when my Goldin one comes.

I know of one Auction House where its a month to a month and a half before you get the check. That's just too long. I think within 2 weeks is perfect.

Would you mind posting or PM'ing me which auction house took a month to get the check out? I'm curious because I'm currently trying to decide on an auction house to consign some items with and any auction house that takes over a month to mail the check will be eliminated from contention...

[Shoeless Moe]

sent

[BeanTown]

It would be an interesting poll to list the top 15 auction houses and their time to pay consignors. I think I know which one would be close to the bottom.

[Leon]

Originally Posted by Wolverine

Would you mind posting or PM'ing me which auction house took a month to get the check out? I'm curious because I'm currently trying to decide on an auction house to consign some items with and any auction house that takes over a month to mail the check will be eliminated from contention...

Spoken like a true anonymous person.

[slidekellyslide]

I have only ever consigned with one auction house. REA. I don't recall how quickly I received payment, but I do recall being shocked at how quickly the check came.

[1952boyntoncollector]

I got my check yesterday so that was the fastest i ever got a consignment check after an auction end. Thats the good part, the bad part was not getting any piece of the buyers premium (consigned about 10k worth) which resulted in a net loss on the consignment where i had private offers that would of totaled more (so had a realistic chance of making a profit ).

[gnaz01]

Originally Posted by 1952boyntoncollector

I got my check yesterday so that was the fastest i ever got a consignment check after an auction end. Thats the good part, the bad part was not getting any piece of the buyers premium (consigned about 10k worth) which resulted in a net loss on the consignment where i had private offers that would of totaled more (so had a realistic chance of making a profit ).

Jake, how is that a bad part about the BP??? Were you told or was it in your consignment agreement that you would receive this?? I ask because every time I've consigned I have to sign a legal agreement and I've never seen that. If the AH didn't agree to it, it can't be a bad thing if you got what your agreement states you were entitled to.

Greg

[khkco4bls]

Is that right you could have agreed with them to get part of the buyer's premium. I've never heard of that

[Scott Garner]

Originally Posted by gnaz01

Jake, how is that a bad part about the BP??? Were you told or was it in your consignment agreement that you would receive this?? I ask because every time I've consigned I have to sign a legal agreement and I've never seen that. If the AH didn't agree to it, it can't be a bad thing if you got what your agreement states you were entitled to.

Greg

You get what you negotiate...

[Forever Young]

Originally Posted by Shoeless Moe

you were correct sir....



......anyone else gets theirs from REA, Goldin or Lelands, feel free to post. I'll post when my Goldin one comes.

I know of one Auction House where its a month to a month and a half before you get the check. That's just too long. I think within 2 weeks is perfect.

They can't pay unless they get paid. Makes sense right? Aholes like me are lazy and like to hold on to their cash. Not purposely but sending a ck is a pain in the ass. If they would accept paypal gift, or echeck.. that would speed up the process. #Ihavenothadackbookforyears

[gnaz01]

Originally Posted by Forever Young

They can't pay unless they get paid. Makes sense right? Aholes like me are lazy and like to hold on to their cash. Not purposely but sending a ck is a pain in the ass. If they would accept paypal gift, or echeck.. that would speed up the process. #Ihavenothadackbookforyears

Well, my friend, the AH I am referring in mine accepts PayPal.....

[mcgwirecom]

Well I consigned to REA since I read all these posts saying how quick they pay. Auction ended on 10/30/17 and I got my check for 2 items today 14 days later. Probably would have been Saturday if not for the Holiday. Not too bad.

[Dewey2007]

I'm very pleased with REA. My first time consigning to them and very happy with the way everything was handled. Their check was also cut a lot faster then I expected which was nice too.