Goldin income verification

[calvindog]

What are you talking about? To be a bidder you meed to prove income? Or to get a much higher bidding limit?

[x2drich2000]

Originally Posted by calvindog

What are you talking about? To be a bidder you meed to prove income? Or to get a much higher bidding limit?

I feel the same way as the OP. Last I checked you could have up to $10k in total bids at any time before they wanted fund verifications. Not exactly a difficult amount to reach if you're putting in several placeholder bids.

[DeanH3]

Same experience for me as well. I was interested in an item in the last Premiere Auction. I was asked to prove income with bank statements. I've bid in their other auctions, so I was a bit surprised. I believe it's a Premier Auction thing. Yeah, no thanks.

[Casey2296]

Hard Pass on the Goldin "experience" for me.

[prestigecollectibles]

Not sure why my limit is $10,000,000

[doug.goodman]

I guess I'll be bidding via you Robert.

Doug

[Peter_Spaeth]

From the site and I am quoting: Bid limit request of $100K or more require purchase references and financial documentation,

Is that completely unreasonable?

[Rhotchkiss]

I don’t know what the initial bid limit is, but $100k without additional verification certainly sounds reasonable. At the same time, $10k is definitely too low, especially for people with a history.

Frankly, I don’t understand why people get so upset about having to verify ability to pay, especially is no credit card is posted as collateral. It’s nothing personal, just prudent business

[Peter_Spaeth]

Could be reading it wrong but looks like you can get more than 10 and up to 100 with just auction history.

[Casey2296]

Originally Posted by Rhotchkiss

I don’t know what the initial bid limit is, but $100k without additional verification certainly sounds reasonable. At the same time, $10k is definitely too low, especially for people with a history.

Frankly, I don’t understand why people get so upset about having to verify ability to pay, especially is no credit card is posted as collateral. It’s nothing personal, just prudent business

100k yes, 10k no. As with many things in life people get pissed when their integrity is questioned. Old school way of thinking but if Goldins baseline is a couple of no pays and they make old school collectors uncomfortable with "access" etc. that's their decision, insulting folks < zero tolerance, it's just a mathematical equation overlayed on emotion.

[calvindog]

It’s annoying for sure. But so many people who win lots don’t have the cash to pay for them and instead send in cards for collateral until they’re sold in the next auction. I can see both sides if the auction house doesn’t have a history with you.

[Peter_Spaeth]

Originally Posted by Casey2296

100k yes, 10k no. As with many things in life people get pissed when their integrity is questioned. Old school way of thinking but if Goldins baseline is a couple of no pays and they make old school collectors uncomfortable with "access" etc. that's their decision, insulting folks < zero tolerance, it's just a mathematical equation overlayed on emotion.

Nobody is questioning your integrity, you're just choosing to take it personally. And best I can tell they aren't insisting on financial records at 10K, only at 100K.

[Snowman]

Originally Posted by Peter_Spaeth

Bid limit request of $100K or more require purchase references and financial documentation,

Is that completely unreasonable?

It's not a $100k threshold though. I had to provide proof of funds to raise mine above $10k as well.

I have an even bigger gripe though. If you want to pay your invoice using your bank account, you'll get a cute little pop-up that says you must agree to giving Goldin access to your bank details including your entire transaction history. LOL

[Peter_Spaeth]

Originally Posted by Snowman

It's not a $100k threshold though. I had to provide proof of funds to raise mine above $10k as well.

I have an even bigger gripe though. If you want to pay your invoice using your bank account, you'll get a cute little pop-up that says you must agree to giving Goldin access to your bank details including your entire transaction history. LOL

I cut and paste that from the site, was not my interpretation.

[Kco]

Originally Posted by calvindog

What are you talking about? To be a bidder you meed to prove income? Or to get a much higher bidding limit?

Yup, did the same to me last year, even after winning well into 5 figures and wiring money the next day. They have zero right to ask for it but they do. I for one haven’t bid again but hey.

[kengoldin]

Without getting into a response to some of these posts in this thread….
If anybody wishes to get a credit limit over $10,000 and does not currently have it and you do not wish to provide the requested information. Please email me personally give me your name. Give me the email you are registered under and just give me a couple hobby references and the limit you think you will need and I will take care of it for you.
Email me do not DM me here
Ken@goldin.com

Keep in mind these policies are done not only to ensure the winning bidder has the ability to pay for anything they are bidding on, but it also ensures the bidders are actually competing against people with the funds to pay, and lowers our default rate.

[Exhibitman]

Originally Posted by kengoldin

Without getting into a response to some of these posts in this thread….
If anybody wishes to get a credit limit over $10,000 and does not currently have it and you do not wish to provide the requested information. Please email me personally give me your name. Give me the email you are registered under and just give me a couple hobby references and the limit you think you will need and I will take care of it for you.
Email me do not DM me here
Ken@goldin.com

Keep in mind these policies are done not only to ensure the winning bidder has the ability to pay for anything they are bidding on, but it also ensures the bidders are actually competing against people with the funds to pay, and lowers our default rate.

Tempest in a teapot at this point, guys. Ken's already come in and provided a very reasonable work-around.

The NPB thing is real and it is a problem. i've done some collections work for some AHs and going after renegging bidders is chasing gambling addicts. You pretty quickly find out that they love the rush of the win but are in way over their heads, have atrocious credit, and little to nothing by way of recoverable assets. It is also incredibly inconvenient for a business to have a sale blown up by a deadbeat.

[calvindog]

Here's Mathewson in a Reds uniform (Hal Chase too):

[OhioLawyerF5]

Originally Posted by calvindog

Here's Mathewson in a Reds uniform (Hal Chase too):

Thanks for that. I was researching more traditional cards, as I don't usually collect items like this team photo. But I think, I'll make an exception and put it on the list. I appreciate it. I'll probably make a post in the future with my list to see what I've missed. I'm sure there are some obscure issues I've passed over.

[calvindog]

I think a real photo postcard may be the closest you’ll find to a “card” with Matty in a Reds uniform. And this one may be the only one.

As for Chase, somehow he managed to have a couple cards as a Red but he did play with them for a few years.

ETA: That looks like Ty Cobb’s doppelgänger in the bottom left of the PC.

[OhioLawyerF5]

Originally Posted by Kco

Yup, did the same to me last year, even after winning well into 5 figures and wiring money the next day. They have zero right to ask for it but they do. I for one haven’t bid again but hey.

But they have every right to ask. You have every right to refuse and not bid. But that doesn't mean a business doesn't have the right to restrict customers to those approved via their methods.

[Snapolit1]

If this is such an obvious no brainer and customary, how come I’ve been bidding with about a dozen AHs for over a decade for prob hundreds of thousands in bids and no one has asked me for this before? Weird.

[OhioLawyerF5]

Originally Posted by Snapolit1

If this is such an obvious no brainer and customary, how come I’ve been bidding with about a dozen AHs for over a decade for prob hundreds of thousands in bids and no one has asked me for this before? Weird.

A lot has changed in the baseball card market in the last ten years, if you hadn't noticed.

[Snowman]

Originally Posted by Snapolit1

If this is such an obvious no brainer and customary, how come I’ve been bidding with about a dozen AHs for over a decade for prob hundreds of thousands in bids and no one has asked me for this before? Weird.

It probably has more to do with the customer base that each auction house caters to. Sites like Mile High or REA largely deal with vintage collectors, and most bidders in that segment of the hobby pay for their winnings. However, sites like Goldin and PWCC that sell a lot of higher-end ultra-modern cards likely have a significantly higher percentage of non-paying bidders since shill-bidding is a much bigger problem on that side of the fence. It makes sense that sites like Goldin and PWCC would ask for proof of funds before sites like REA or Mile High would.

[mrreality68]

its is the way they do business. I also had to do that at a few other auction houses (I think it was Christies where I won my Joe Jackson Minor League Postcard) and Chtisties did require verification of funds in the bank and available not even income
With Goldin there was a choice of either showing income or past purchase histories from other auction houses. I did the past pruchases and showing they were paid and from that my "limit was determined".

It was a paperwork pain in the butt but it was 1 time and it is done (unless I want to get my bidding limit raised).

[ValKehl]

Not that I ever would, but if I were to consign a very valuable card or cards to Goldin, I'd first require Goldin to provide me with a copy of their insurance policy.

[Aquarian Sports Cards]

Originally Posted by ValKehl

Not that I ever would, but if I were to consign a very valuable card or cards to Goldin, I'd first require Goldin to provide me with a copy of their insurance policy.

I've had consignors ask to see my policy.

[brianp-beme]

Originally Posted by ValKehl

Not that I ever would, but if I were to consign a very valuable card or cards to Goldin, I'd first require Goldin to provide me with a copy of their insurance policy.

Especially if they seem likely to ship, in willy-nilly fashion, the card(s) to a Best Western Plus.

Brian

[OhioLawyerF5]

Originally Posted by ValKehl

Not that I ever would, but if I were to consign a very valuable card or cards to Goldin, I'd first require Goldin to provide me with a copy of their insurance policy.

I guarantee they wouldn't be personally offended by the request. :cry: