Quote:
Originally Posted by packs
Even with a contractural agreement in place, it should not be too hard to understand the seller's frustration if you are the auction house. A lot of collectors sell their cards because they need to finance another aspect of their life. So it should not be too difficult to understand that a seller is counting on the money that is being held.
I don't see why an auction house can't advance funds after a certain period of time. If they are awaiting payment from some priviledged bidder that they have extended special financing to, why would they be worried about covering the price for the bidder and expediting payment to the seller?
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I'm sorry but I do find the seller's frustration a little hard to understand. The contract he agreed to gives the AH 60 days to pay. If the OP didn't like the terms of his consignment, or he wanted his money quicker, he should have taken his business elsewhere. The terms the OP agreed to for consigning are independent from the terms the 3rd party (the buyer) agrees to when participating in the auction.
As to your second point, maybe because, unless the buyer has a proven on-time and clean payment record, the AH would be assuming way to much business risk in just blindly advancing a consignor's payout before even receiving the funds, let alone waiting for the funds to clear completely.