More bad news for Mastro

[Archive]

Posted By: barrysloate

Bobby made a good point that I was going to bring up. Say someone consigns twenty lots to me. It's likely that fifteen of them will be paid in the first week after the auction. But I have never done a single one where I am not chasing after late payers. As sure as the sun rises, two weeks after the sale there will still be eight or ten bidders who haven't even written their checks yet. So that will slow down the whole process.

If someone consigns a single lot, and it is paid for quickly, I will pay the consignor in a more timely matter. However, it does sound like the troubles at Mastro go a little deeper than just waiting for bidder checks.