Goldin Increasing Buyer's Premium

[Snapolit1]

Originally Posted by JeremyW

I tried searching "Ruth" & couldn't believe all of the lots that came up.

Ruth Buzzi PSA 9 was sharp.

[JeremyW]

Originally Posted by Snapolit1

Ruth Buzzi PSA 9 was sharp.

So tempting.

[JollyElm]

There is a set of cards I regularly search for on eBay, and over time my list of 'exclusions' in the search bar has now grown to this (in order to JUST see the cards I'm actually searching for):

-(dean, sheffield, calender, amberstone, usaf, losers, pottery, nasa, china, buick, saucer, rosemary, rainbow, caron, granada, baby, mclaughlin, relish, salt, billy jack, steel, license plate)

[x2drich2000]

Personally I don't care what the BP is, I'll bid what I want factoring in the BP to the total cost. My issue with Goldin, besides the search functions, is the request for banking information before being able to put in bids totalling over $10k. I'm not a high roller by any stretch, but I know my limits and if I have to come back multiple times waiting to be outbid to put in placeholder bids, forget it. In today's market $10k in bids is not that much but there's no way I'm giving Goldin any of my personal financial info in order to bid. I know there are others like me as well on this subject.

[Exhibitman]

Originally Posted by x2drich2000

Personally I don't care what the BP is, I'll bid what I want factoring in the BP to the total cost.

It isn't about the bidders--they are irrelevant--it is about setting a higher baseline for Goldin's share of consignors' money.

[Mrc32]

Originally Posted by x2drich2000

Personally I don't care what the BP is, I'll bid what I want factoring in the BP to the total cost. My issue with Goldin, besides the search functions, is the request for banking information before being able to put in bids totalling over $10k. I'm not a high roller by any stretch, but I know my limits and if I have to come back multiple times waiting to be outbid to put in placeholder bids, forget it. In today's market $10k in bids is not that much but there's no way I'm giving Goldin any of my personal financial info in order to bid. I know there are others like me as well on this subject.

I didn't find it to be that big of a deal. I did it. Take a bank statement that has some larger account on it. BLACK out any personal information like account numbers, address etc and send it in. I thought it was dumb, but also not that big of deal in the grand scheme of things.

I can see why they want it. I'm sure it is a way for them to avoid people just shilling up big money cards and then not paying. Limit the buyer pool to people that can pay. You can't just walk off the street at Christie's and bid $100,000 on a work of art. You have to be qualified.

[Peter_Spaeth]

Originally Posted by Mrc32

I didn't find it to be that big of a deal. I did it. Take a bank statement that has some larger account on it. BLACK out any personal information like account numbers, address etc and send it in. I thought it was dumb, but also not that big of deal in the grand scheme of things.

I can see why they want it. I'm sure it is a way for them to avoid people just shilling up big money cards and then not paying. Limit the buyer pool to people that can pay. You can't just walk off the street at Christie's and bid $100,000 on a work of art. You have to be qualified.

Does any other AH ask for a bank statement?

[Snowman]

I did a web traffic search today and was somewhat surprised to learn that PWCC has more than double Goldin's monthly traffic. Which leads me to wonder how much they may have *actually* been acquired for? (I maintain that it was still for a significant sum despite their financial woes at the time). Estimates I've read for the CU acquisition of Goldin are around $200 million. I don't know if that's accurate at all, but if PWCC gets double Goldin's traffic, then they are almost certainly worth more than that.

[Rhotchkiss]

Originally Posted by Peter_Spaeth

Does any other AH ask for a bank statement?

Yes. Its very common. Not so much in cards, although some do. But you bet that many AHs selling historical and entertainment items require this, and I expect all card AHs will require proof of ability to pay over a certain minimal amount. And the should.

If I understand DJ's issue, it seems the issue here is that with Goldin, each bid placed is cumulative, so that you hit your $10k limit after placing a number of initial placeholder bids and do not have "capacity" until you are outbid and your aggregate bid amount goes below $10k. I do understand why this is the case -- $10k is $10k, whether one card or 100, but I also see why/how its annoying.

[raulus]

Originally Posted by Peter_Spaeth

Does any other AH ask for a bank statement?

C’mon Peter…

We all know that you’re approved to bid on PWCC’s premier auctions. And that requires a thorough financial exam prior to approval.

[Mrc32]

Originally Posted by Peter_Spaeth

Does any other AH ask for a bank statement?

Yes. I've been asked for it from Memory Lane / and one other