NonSports Forum

Net54baseball.com
Welcome to Net54baseball.com. These forums are devoted to both Pre- and Post- war baseball cards and vintage memorabilia, as well as other sports. There is a separate section for Buying, Selling and Trading - the B/S/T area!! If you give an opinion of a person or company your full name needs to be in your post. Contact the moderator at leon@net54baseball.com should you have any questions or concerns. Enjoy!
Net54baseball.com
Net54baseball.com
ebay GSB

Go Back   Net54baseball.com Forums > Net54baseball Main Forum - WWII & Older Baseball Cards > Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions

Reply
 
Thread Tools Display Modes
  #1  
Old 05-15-2006, 11:43 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,919
Default Any guess on how long it takes auction house consignment checks to arrive?

Posted By: Bob

Just curious if someone knows from experience, what is the norm from Mastro and REA.

Reply With Quote
  #2  
Old 05-16-2006, 12:26 AM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,919
Default Any guess on how long it takes auction house consignment checks to arrive?

Posted By: jay behrens

The email I got from Rob said that he would start sending put checks within 2 weeks of the auction closing. I am sure that is dependent on how quickly your lots are paid for and who the winning bidder was.

Since I only had one item with relatively small final price, I'd think I'll get my check pretty quickly. Julie on the other hand may take a week or two longer as there are more lots that need to be paid for.

Jay

I like to sit outside, drink beer and yell at people. If I did this at home, I would be arrested. So, I go to baseball games and fit right in.

Reply With Quote
  #3  
Old 05-16-2006, 10:35 AM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,919
Default Any guess on how long it takes auction house consignment checks to arrive?

Posted By: warshawlaw

I expected a 45-day delay in payment, tho. I wouldn't start panicking until June 1st.

Reply With Quote
  #4  
Old 05-16-2006, 11:38 AM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,919
Default Any guess on how long it takes auction house consignment checks to arrive?

Posted By: joe

For the March 2, 2006 Mastro auction, I received my consignment check around April 21, 2006. In the auction catalog it says up to 60 days after auction ends. When I called they said they were waiting for payment from some late payers on some items.

Joe

Reply With Quote
  #5  
Old 05-16-2006, 02:58 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,919
Default Any guess on how long it takes auction house consignment checks to arrive?

Posted By: warshawlaw

It seems to me that most folks pay relatively fast (within 2-3 weeks of close) because they want their stuff, and most auction rules call for very fast payment, yet most auctioneers pay relatively slowly (45-60 days after close). Why? Two reasons come readily to mind:

(1) Administratively, it is a pain in the butt to run individual checks as money dribbles in instead of doing one big check run when the final payments are in and you close the book on the auction. It is much easier to keep track of things if you simply set a payment date and run everything to date at that time.

(2) If you hold the payments in an interest-bearing account until 60 days after the auction closes, you can skim the interest as an additional pure profit. Essentially, you get a 30-45 day interest-free loan from the consignors. While this isn't much on a per-consignor basis, think of it on the full auction: 30 days' interest on 5 million is over $4,000 per percentage point you earn.

Reply With Quote
  #6  
Old 05-16-2006, 06:14 PM
Archive Archive is offline
Administrator
 
Join Date: Mar 2009
Posts: 58,919
Default Any guess on how long it takes auction house consignment checks to arrive?

Posted By: jay behrens

My check arrived today with a very nice personal, hand written note from Rob. Not just a form letter and a check. Rob is top notch all the way.

Ance again, major kudos to Rob for the great job he did.

Jay

I like to sit outside, drink beer and yell at people. If I did this at home, I would be arrested. So, I go to baseball games and fit right in.

Reply With Quote
Reply



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Are their any consignors from the Febuary Mastro auction still waiting on their checks? Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 5 04-16-2009 07:37 AM
Auction House Question Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 18 03-15-2009 10:23 AM
Mastro Live Auction catalog arrive yet?? Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 11 07-29-2008 11:09 PM
Auction House Competition... Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 7 04-08-2008 10:16 AM
guess what t206 is real auction Archive Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions 3 06-25-2005 06:40 PM


All times are GMT -5. The time now is 07:12 AM.


ebay GSB