38 days after auction and waiting for check.

[3-2-count]

Originally Posted by Cardboard Junkie

I think it's wrong for an AH to extend credit to one/some and not others.

Believe me, this is the least we should be worrying about when it comes to how many of these AH's run their business. Wrong? Sure! Top of the list? Not even close.

[Cardboard Junkie]

What's sad is that when the AH name is revealed....there is a dozen or more it could be that wouldn't surprise me.

[Wite3]

While the original poster strolls down Memory Lane on a Hunt for his Legendary money hoping that the money comes before he leaves it as a Heritage for his children, we all sit watching our bids climb a Mile High hoping for a Good-win and a Clean Sweep in the next auction.

[3-2-count]

Very clever Joshua. Very clever indeed!

[foxxfan]

As the Managing Partner of an auction house I do run into this situation from time to time. One of our two auctions each year takes place in early November. We often have museums that are winning bidders and often they have to wait until the first of the year to access funding. If we extend buyers terms beyond our consignor payment terms (45 days) then we take the risk of getting paid. We pay out the consignor on time and then wait for payment from the buyer.

I think if the consignor agrees to 60 days they really can't complain at day 38. That being said it's never appropriate to call a consignor an idiot.

Jeff

[eliminator]

I operate a successful residential construction business that is focused on customer satisfaction. I find it very common and irritating when I deal with a business that is unprofessional. It seems to happen more times than not.

You should have received email responses within 24 hours. You should have been brought into the loop about the auction house extending short term financing terms (even if they are holding the merchandise). I think they are stretching the purpose of the sixty day clause for their benefit.

The auction house knew the seller would be upset and did not respond to the seller hoping the buyer's check would show up. BAD WAY TO CONDUCT YOUR BUSINESS PERIOD!

[srs1a]

Quote:
Originally Posted by srs1a View Post
$47K is a lot of cheese. If the contract says 60 days, so be it. However, I don't think that says that the AH has a free pass to ignore the consignor. If they have a whale on the hook that can't (or won't) cough up, why not write a check for a partial amount to the consignor? My instinct says strike a proper balance between consignor and buyer and you won't get posts like this on public message boards.
For the sake of accuracy, according to the OP, the amount is $4,700, not $47,000.

Wow, my eyes are bad...smaller cheese....patience probably the better path

[Sean1125]

This is why, in my opinion, it is better to sell to competitive-paying dealers at times.

You get payment the second the deal is done. Typically with the 20% juice auction houses charge the spread you will encounter can be under 10-15%. Would it have been worth it to have pocketed $4200 in one day, or wait + get stressed over this amount of time from the auction house?

I guess the thrill of auction adds to it, but I view it as a risk rather than thrill.

Just my two cents.

[bobbyw8469]

I guess the thrill of auction adds to it, but I view it as a risk rather than thrill.

Touche Sean! I can't tell you how many times I have run auctions on Ebay, only to see the final selling price be less than what I could have gotten had I shipped the card off to All Star Cards, if it is one of the cards on their BUY LIST! And NO FEES!!! I have kicked myself in the butt soooooo many times. I guess I still do it for the HOPE that two people will bid the card to what it really should be. When it sells for below wholesale though.....OUCH!!!

[Mikehealer]

I once waited 5 months for a consignment check, about $4K. I didn't think it was that big of a deal. That said, I had done business with them before, so I wasn't worried about getting paid.

[ValKehl]

Originally Posted by Wite3

While the original poster strolls down Memory Lane on a Hunt for his Legendary money hoping that the money comes before he leaves it as a Heritage for his children, we all sit watching our bids climb a Mile High hoping for a Good-win and a Clean Sweep in the next auction.

Joshua, this is priceless - I'm still laughing 10 minutes after I first read your post!
Val