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#7
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I can understand auction houses working on a commission, not wanting to take CC's for fear of chargebacks.
Especially since, a chargeback would usually happen after a consignor has already been paid. Take Leon for example, with his 12.5% buyers premium. He sells a $500 card at auction. He collects $562.50 from the buyer. He pays the consignor their 500 bucks. Two months later he gets a chargeback for the full $562.50 amount. He's now out $1062.50. That's a rough cost of doing business. I just got chargeback notice from Paypal for an Ebay sale from 2 months ago, for about $36 bucks. Item shows delivered on November 29th. They went through their credit card company and claimed "Unauthorized Use". If it holds up, they don't even need to send the item back. Just claim somebody else used their card, even though it was delivered to their Paypal address.
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