Goldin income verification

[Rhotchkiss]

Originally Posted by Fred

Wouldn't it suck if you didn't know your bid limit and were bidding on an item and found out in the extended bidding that you reached your limit and could no longer bid on an item.

Several years ago, Christie's had an auction with some W600s I wanted, specifically and most importantly was a Type 1 Plank, but I also wanted the Type 2 Cy Young and the Type 3 Bender. I signed up for Christie's and they gave me an initial credit limit that was insufficient to buy all 3. I called there and explained that I wanted all 3, but hade to have the Plank, which, alone, certain to go for more than my initial limit. They had me provide some financial info, which I did, and I was told my limit was increased. I called 3 days before the auction to confirm my limit had been increased and I was told it was.

This auction was a traditional format where lots come up and close one by one after one another.

Auction day comes and first up is the Bender, which I win. Next up is the Cy Young, which I win. Then comes the Plank, and I am going back and forth until I get to $50k+/- at which point it says I have exceeded my credit limit. I flipped out!!! Not only had they not increased my limit, but now in the moment I am frozen out of the card I really wanted.

I ended up getting a Plank elsewhere. Needless to say, I do not bid in Christie's auctions anymore.