Final auction price if the bidder doesn’t pay?

[parkplace33]

Simple question… If an auction house or eBay seller auctions a card and the higher bidder doesn’t pay for the card, is that final price listed as a sale?

Scenario. Auction House X auctions a 1954 Topps Aaron psa 5. Final price is $7000. The highest bidder never pay. Is that $7000 listed anywhere as the hammer price?

[Leon]

Originally Posted by parkplace33

Simple question… If an auction house or eBay seller auctions a card and the higher bidder doesn’t pay for the card, is that final price listed as a sale?

Scenario. Auction House X auctions a 1954 Topps Aaron psa 5. Final price is $7000. The highest bidder never pay. Is that $7000 listed anywhere as the hammer price?

I could be wrong but I doubt most auction houses go back and change the endings.
.

[parkplace33]

Thanks Leon. So they keep false sales on their website?

[Kidnapped18]

The last instance that I know of dealing with that question a Lajoie was sold for $1,440 in an April 2020 auction seller bidder/winner didn’t pay and it was relisted by same auction house in their August 2020 auction where it went for $1,800

Bidder who didn’t pay in April cost himself $360 over a few months

Both prices are still on auction house site as sold

[Leon]

Originally Posted by parkplace33

Thanks Leon. So they keep false sales on their website?

I am not sure. You should ask them and let us know.
.

[Snowman]

I know that at least ebay and PWCC both claim to remove cards that weren't paid for. While I definitely know this is true on many occasions, I also know I've seen several cases where they on fact did not delete the items. What percentage of the time they actually get deleted would be an interesting data point to have though. As far as other auction houses go, I have no idea.

[GeoPoto]

Originally Posted by parkplace33

Thanks Leon. So they keep false sales on their website?

Unless the non-payment was part of an extensive conspiracy, how "false" was the data? Presumably there was an under-bidder willing to pay one increment less.

[mrreality68]

Originally Posted by Kidnapped18

The last instance that I know of dealing with that question a Lajoie was sold for $1,440 in an April 2020 auction seller didn’t pay and it was relisted by same auction house in their August 2020 auction where it went for $1,800

Bidder who didn’t pay in April cost himself $360 over a few months

Both prices are still on auction house site as sold

+1 This is my understanding of it and how I have seen it also on another example just do not recall it

[swarmee]

Just another way to post false results to skew the VCP averages, driving prices higher. Why would auction houses counterfeit their own results? They are incentivized not to.

[LEHR]

Originally Posted by parkplace33

Thanks Leon. So they keep false sales on their website?

I’d say Leon is correct here. AH’s are in the business of selling collections and making money, not providing historically significant sales data.
If I were in the AH’s shoes I doubt id care about sales data either unless it made my company look good. Just being realistic, not pessimistic.

[Aquarian Sports Cards]

It's a matter of time. We haven't had very many no-pays on significant items, but even if we did, taking time out of my day, or of one of my employees, is just not a priority. I have too much other stuff to worry about than making sure I remove bids of non-paying bidders.

[parkplace33]

Originally Posted by GeoPoto

Unless the non-payment was part of an extensive conspiracy, how "false" was the data? Presumably there was an under-bidder willing to pay one increment less.

True, but what if the under bidder doesn't buy it either? They are not required to.

[Johnny630]

Originally Posted by parkplace33

True, but what if the under bidder doesn't buy it either? They are not required to.

I’ve seen a lot of re listed cards showing back up in Major AH and EBay Consigners during their next auctions or sometimes they will list them as buy it nows or make a offer as an option to their consigner.