Goldin Auctions: 3 Months & Still No Pay

[Rhotchkiss]

That’s rough. However, every auction house has been stiffed. It does happen. In my experience (not as a consignor, but as an underbidder and from discussions with AHs and other collectors), typically the AH will inform the consignor and offer to go to the next highest bidder, most often eating the difference between the “winning” bid and the underbidder so the consignor is made whole at the winning bid. Sometimes when the underbidder does not want the item (and I have been that guy before), the AH may go on down the line, or they may offer to put the item in the next auction (often with a larger piece of the BP to the consignor), or, as Goldin offered, pay the consignor and keep the item.

I am sure Goldin will make it right. I agree with Peter, go right to Ken. My guess is he will see this thread and reach out to you. That said, I agree that 3 months is too long and I think you are right to be annoyed at this point.

[Peter_Spaeth]

As an aside, speaking of not taking ownership of issues, I am pretty good at dealing with companies and organizations, but I have met my match in the USPS. They are perfectly defended, never seen anything like it. Anywhere you go, they send you somewhere else, and the somewhere else either sends you back from whence you came, or to yet another place.

[MikeGarcia]

Originally Posted by Peter_Spaeth

As an aside, speaking of not taking ownership of issues, I am pretty good at dealing with companies and organizations, but I have met my match in the USPS. They are perfectly defended, never seen anything like it. Anywhere you go, they send you somewhere else, and the somewhere else either sends you back from whence you came, or to yet another place.

... I think I remember several posts on Net54 from a former USPO higher-up who generously gave advice on many situations like you might have run into. If he is still active on the forum (and you haven't completely alienated him by now) , then perhaps he'll let us know the end-around when getting the run-around. See what I did there ?.............I'll let myself out.

..

[Peter_Spaeth]

Originally Posted by MikeGarcia

... I think I remember several posts on Net54 from a former USPO higher-up who generously gave advice on many situations like you might have run into. If he is still active on the forum (and you haven't completely alienated him by now) , then perhaps he'll let us know the end-around when getting the run-around. See what I did there ?.............I'll let myself out.

..

I think I know who you mean.

[boysblue]

Thank you very much for involving yourself Leon. I appreciate it.

[drcy]

From my observations, GA has been responsive when such issues have happened in the past. I imagine they'll fix what needs to be fixed,

[mrreality68]

Originally Posted by Rhotchkiss

That’s rough. However, every auction house has been stiffed. It does happen. In my experience (not as a consignor, but as an underbidder and from discussions with AHs and other collectors), typically the AH will inform the consignor and offer to go to the next highest bidder, most often eating the difference between the “winning” bid and the underbidder so the consignor is made whole at the winning bid. Sometimes when the underbidder does not want the item (and I have been that guy before), the AH may go on down the line, or they may offer to put the item in the next auction (often with a larger piece of the BP to the consignor), or, as Goldin offered, pay the consignor and keep the item.

I am sure Goldin will make it right. I agree with Peter, go right to Ken. My guess is he will see this thread and reach out to you. That said, I agree that 3 months is too long and I think you are right to be annoyed at this point.

+1 agree.

I would also be frustrated and I would go to the top. They are usually good at resolving these issues ( as Ryan stated above).
Odd because Goldin is usually really good at making things right in my opinion and from my experience

[raulus]

Never consigned with Goldin, but did have a similar issue with another auction house that was having monthly auctions (who isn’t these days, right?).

My item sold for about $9k initially, and the winning bidder didn’t pay, so they put it back into their next auction. I think this was around July 2020, so naturally it sold for $12k the second time around, and the new winner paid for it right away.

Of course, today is would probably go for more like $30k.

Kinda sad to be that first winner who missed out. Not sure if they just got scared, or if they never really had the cash to pay for it, and they were just screwing around by bidding on something they couldn’t really buy.

[Orioles1954]

In our auctions around 98% of the lots get paid for and 2% do not. For those 2%ers (sounds like a motorcycle gang) we provide them with a myriad of options ranging from returning the item to re-selling the item or buying the item at what the lot sold for.

[Peter_Spaeth]

Originally Posted by Orioles1954

In our auctions around 98% of the lots get paid for and 2% do not. For those 2%ers (sounds like a motorcycle gang) we provide them with a myriad of options ranging from returning the item to re-selling the item or buying the item at what the lot sold for.

What sorts of excuses do you hear from nonpaying bidders?

[oldjudge]

In my opinion, not a good look for a board advertiser looking for consignments. This is surprising to me, especially since for an auction house as big as GA this is not a big amount.

[Mrc32]

I've had issues on two different lots I have won on Goldin.

BOTH issues were taken care of promptly and to my satisfaction.

I came away from both experiences extremely impressed - and will continue bidding in their auctions.

Frankly, I look forward to the release of each auction.

[Snapolit1]

Originally Posted by oldjudge

In my opinion, not a good look for a board advertiser looking for consignments. This is surprising to me, especially since for an auction house as big as GA this is not a big amount.

Yeah, certainly gives me pause. I think a month is generous.

[Orioles1954]

Originally Posted by Peter_Spaeth

What sorts of excuses do you hear from nonpaying bidders?

It’s usually less expensive items that are around $1,000. Most of the excuses revolve around job losses or health issues…but that’s usually code for bidder’s remorse. It’s funny that most of the “job loss” and “health issue” people call up for future auctions and wonder why their bidding privileges have been disabled. We did have one bidder who did pass away and our consignor was fortunately very understanding.

[Leon]

I spoke with Goldin auctions and this situation is being worked on. Their accounting team should be contacting the OP....
.

[Aquarian Sports Cards]

Originally Posted by Orioles1954

It’s usually less expensive items that are around $1,000. Most of the excuses revolve around job losses or health issues…but that’s usually code for bidder’s remorse. It’s funny that most of the “job loss” and “health issue” people call up for future auctions and wonder why their bidding privileges have been disabled.

LOL. Word for word this is our experience too.

[Aquarian Sports Cards]

Originally Posted by Orioles1954

In our auctions around 98% of the lots get paid for and 2% do not. For those 2%ers (sounds like a motorcycle gang) we provide them with a myriad of options ranging from returning the item to re-selling the item or buying the item at what the lot sold for.

that's all right about where we're at too. Funny thing is, it's usually cheap stuff that goes unpaid.

[BillyCoxDodgers3B]

Originally Posted by Aquarian Sports Cards

that's all right about where we're at too. Funny thing is, it's usually cheap stuff that goes unpaid.

Amen. The cheaper the item, the bigger the hassle. This never fails to prove true. It's certainly always easier to block people who turn a ten cent sale into a problem. Chances are, they're not going to end up putting your kids through college later on, anyhow. These sorts of sales wouldn't even pay for DeVry.