Goldin income verification

Casey2296 · #1 10-29-2024, 10:24 PM

Quote:

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 · #2 10-29-2024, 10:51 PM

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 · #3 10-29-2024, 11:00 PM

Quote:

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.

Casey2296 · #4 10-29-2024, 11:37 PM

Quote:

Originally Posted by Peter_Spaeth

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.

Refer to post #3 in this thread.
Of course I take it personally, that's why they call it personal integrity. I'm just a small time collector, I think the most I ever spent in one auction is 30k and that's far and above my usual. REA never asked for my ability to pay, nor does Heritage, LOTG, or any of the other pre war auction houses. I don't care to be vetted by Goldin because a bunch of modern collectors scammed them. I'll pass.

Peter_Spaeth · #5 10-30-2024, 12:06 AM

Quote:

Originally Posted by Casey2296

Refer to post #3 in this thread.
Of course I take it personally, that's why they call it personal integrity. I'm just a small time collector, I think the most I ever spent in one auction is 30k and that's far and above my usual. REA never asked for my ability to pay, nor does Heritage, LOTG, or any of the other pre war auction houses. I don't care to be vetted by Goldin because a bunch of modern collectors scammed them. I'll pass.

I don't understand taking it personally. It's just a different business model, there is nothing personal about it. Do you take it personally if you apply for a loan or mortgage or credit card and they ask for financial information or credit scores? Or are baseball cards supposed to be some different thing because it's just among friends?

pawpawdiv9 · #6 10-30-2024, 01:40 AM

It’s not that hard
I did it over a year ago
There’s a old thread about the premiere auction
I questioned it myself
But gave limited info
I explained my experience
Now this was Pwcc which is now Fanatics
I also bid in Goldin and not had a issue
Not had this problem come up

Snapolit1 · #7 10-30-2024, 05:36 AM

Maybe I will ask the people who run AHs to send me their financial statements before I bid.

Snowman · #8 10-30-2024, 04:28 PM

Quote:

Originally Posted by pawpawdiv9

It�s not that hard
I did it over a year ago
There�s a old thread about the premiere auction
I questioned it myself
But gave limited info
I explained my experience
Now this was Pwcc which is now Fanatics
I also bid in Goldin and not had a issue
Not had this problem come up

I believe you may have made a mistake somewhere in your haiku

brianp-beme · #9 10-30-2024, 04:49 PM

I don't participate in snark exchanges. I am, however, guilty of the occasional snark and run.

Brian (stay out of murky waters if you want to avoid a snark attack)

Snapolit1 · #10 10-30-2024, 05:47 AM

Quote:

Originally Posted by Peter_Spaeth

I don't understand taking it personally. It's just a different business model, there is nothing personal about it. Do you take it personally if you apply for a loan or mortgage or credit card and they ask for financial information or credit scores? Or are baseball cards supposed to be some different thing because it's just among friends?

Maybe you look at someone’s track record dealing with you before you ask them to provide their bank statements to you to review. Would that make more sense? If I bought 15-20 cars from the same place, and gave them business in the past, yeah I would prob be upset if I walked in and they acted like they had no idea who I was.

OhioLawyerF5 · #11 10-30-2024, 05:55 AM

Quote:

Originally Posted by Snapolit1

Maybe you look at someone�s track record dealing with you before you ask them to provide their bank statements to you to review. Would that make more sense? If I bought 15-20 cars from the same place, and gave them business in the past, yeah I would prob be upset if I walked in and they acted like they had no idea who I was.

A car dealership is still verifying your creditworthiness, even if you've bought 15 cars in the past. Am I living in a bizarro world in this thread? I can't believe how sensitive people are.

If you don't like it, take your business elsewhere, but we need to stop pretending it's an unreasonable business practice.

parkplace33 · #12 10-30-2024, 06:30 AM

I get it, but most collectors would walk through fire to bid on a card they want.

Snapolit1 · #13 10-30-2024, 07:05 AM

Quote:

Originally Posted by OhioLawyerF5

A car dealership is still verifying your creditworthiness, even if you've bought 15 cars in the past. Am I living in a bizarro world in this thread? I can't believe how sensitive people are.

If you don't like it, take your business elsewhere, but we need to stop pretending it's an unreasonable business practice.

I think it’s unreasonable and plan to.

I have an aversion showing strangers my 401k statement. Would Ken send his to me you think? For an $11,000 credit line?

rats60 · #14 11-02-2024, 03:36 AM

Quote:

Originally Posted by OhioLawyerF5

A car dealership is still verifying your creditworthiness, even if you've bought 15 cars in the past. Am I living in a bizarro world in this thread? I can't believe how sensitive people are.

If you don't like it, take your business elsewhere, but we need to stop pretending it's an unreasonable business practice.

I have never had to provide bank statements to buy a car or get a credit card. They pull your credit report to see that you pay on time. My local bank even gave me a home mortgage without needing income verification. I had been with them for several years and they didn't sell their mortgages.

Every auction house I have registered for has requested hobby references, similar to running a credit report. I have never been given a credit limit. I have spent over 10k with most of them. I have spent over 100k with one. If you have a history of paying for what you win, shouldn't that be enough?

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