PWCC t206 set break auction frustration (AITA???)

[ullmandds]

obviously they seem to have had/have a big issue with winners who don't pay?

[raulus]

Originally Posted by ullmandds

obviously they seem to have had/have a big issue with winners who don't pay?

You could certainly interpret this policy in this fashion. Although I'm not sure that's necessarily the case.

In the crypto world, they use somewhat descriptive terminology to separate the big players from the smaller players - whales and minnows. Given the price points targeted in the premier auctions, I think the AH is really just trying to keep minnows from bidding in auctions where they haven't demonstrated an ability to pay. So maybe more of a preemptive strike to prevent someone who can't actually pay from even bidding at all.

And it's certainly possible that the inspiration for requiring these bona fides springs from non-payment problems that the AH experienced in non-premier auctions, perhaps even going back to their eBay days.

My own experience is that from time to time, items that I have consigned through brokers on eBay have suffered from non-paying bidders. In one situation in July 2020, the buyer who chose not to pay $8k to buy a piece that buyer had won (and I consigned) ended up helping me, because a month later it sold for $11k. And that buyer paid.