Quote:
Originally Posted by buymycards
One sentiment has been, the auctions ending altogether, all at once and very late, tend to help the whales with lots of money more than the other auctions ending lot by lot. However, what if the bidders were able to get extended payment terms to bid on more? Would that alleviate some of the issue?
Hi Leon,
One of your questions seems to have been overlooked by the previous posters. If I understand your question correctly, you are wondering if more bids would be generated if the winner did not have to pay right away. For instance, before the auction begins, a bidder could request a line of credit, and if the prices start to get high, more bids may be generated if the winners had more time to pay for the item. I think a lot of people might like that idea, although I wonder how it would affect the time in which consigners get paid.
Rick
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Thank God for you Rick!! Everyone overlooked a potential (heck if I know for sure) solution to the problem. If anyone would care to also answer I would love to hear some views. All opinions are welcome. I am curious as a collector, resale buyer, seller, consignor, auctioneer.....need I keep going?
So if you could pay for winnings over 3-6 or more mos., would that be viable and level the playing field any?
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