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Posted By: davidcycleback

Mike Gutierrez Auction, as an example, has a brief return period if the auction description desription is false. It would only make sense that this auction hold money until after this period is up. I would think the average auction houses would make sure that everything is shipped and accepted before giving money to consignors. Business-wise, it wouldn't be sound to give money to consignors until the consignments are accepted by the buyer. The auction house is charging a fee to perform the entire transaction, including consumation of sale. It can be compared to an agent selling a house.