D Bergin-At worst Scott and Leon are out $1000 and have the card. That is the worst case.
Normal transaction: They pay the consignor $1000, the get paid $1125 by the buyer, and the buyer gets the card. Net $125.
Worst Case (Pay consignor, card returned, and cannot recover money from consignor): They have paid consignor $1000, they get paid $1125 by the buyer, the return $1125 to buyer, they have the card. Net-they are out $1000 and have the card.
The worst case is a low probability situation since, even if the consignor was paid, the auction house can request the money back from a consignor if the lot proves to have a problem. In Todd's case he found the problem quickly and this would have not been an issue.
Regardless, I would expect this from a responsible seller or auction house. If I thought I would be treated otherwise I would not deal with that entity.
|