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#1
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Goldin Auction, thx for the quick check!
Just want to call out Goldin Auction for their quick check of my consignment. My item ended in their last auction (March 8th.... I think) and received my check today. Surprisingly, the check was from FedEx and I totally unexpected that since it was just barely over $15k.... not a fat check at all. I am not sure whether they use FedEx to pay everyone but those fees add up quick for those that are only a few hundred dollar checks. (Well... not many things ended in 3 figures in Goldin auction anymore.. LOL)
Just a side note, I consigned something to another auction house before and also got paid in a month ..... BUT the check was delivered in regular mail and had my address WRONG!!!! Cool that my smart postman still delivered to the correct house!!! I was disappointed, of course! Last edited by chriskim; 04-07-2021 at 11:45 AM. |
#2
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I wouldn't worry about how much it cost Goldin to mail out checks. They generate enough money each auction there not hurting.
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#3
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If getting paid in a month is "fast", what is standard for auction houses?
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#4
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I have heard people had to wait for months to get their checks but I don't know which AH they referred to. I have only dealt with two AHs and both paid quick.
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#5
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Getting paid in a month is quite fast yes. How long do you think it takes an auction house to collect all the funds that have to be dispersed?
__________________
Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions |
#6
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Most AH's pay out in 30 days or less, I would say that is the standard. My small auction pays out the second Monday after the auction(16 days) or before.
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#7
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The solution is to spend more at the Auction than you receive from your consignments, that way you'll never worry about getting a check...
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#8
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I did thought about this might work.... but what about the buyer who won your consignment didn't pay and u rely on that consignment money to pay for what u won?? U will end up in a deep hole even though I am sure you can work out a deal with the AH.
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#9
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You sir, are a genius!
__________________
Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions |
#10
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I would think 7-14 days, tops, would be a reasonable expectation for you (the AH) to get paid. In this era of electronic transactions, waiting weeks for a paper check to be delivered and then more time for it to clear would seem to be antiquated.
Last edited by Tabe; 04-07-2021 at 05:31 PM. |
#11
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Quote:
AH are requiring payments in 10 days. Why should it take two more weeks to issue payments to consignors? |
#12
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Sounds great, but trust me there are still people who insist on doing business the old-fashioned way. It's not in my consignor's best interests to turn those people away. It's a balancing act to be sure.
__________________
Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions |
#13
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goldin???
Quote:
Robert Edwards pays me in two weeks or less. Same for memory lane and clean sweep..... |
#14
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I guess you are right. 20% buyer's fee of a million dollar card is $200k and there are plenty of cards sold for million dollar nowaday!
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