Slow payments/nonpayment

[Lorewalker]

Originally Posted by Snowman

There's so many auction houses these days, I can't keep up with them all. I've forgotten I won something more than once.

Also, not everyone keeps large sums of cash just sitting around in their checking accounts. For smaller purchases, sure, you should have the money available. But for high-end stuff, people often have to move money around in order to pay for it.

This is 2024 not 1894. How long can it take to get money transferred to an account where a payment can then be made? 6 hours? I can do it in seconds if the money is not already in my account.

And if you know you are bidding and possibly going to spend a good deal of money, why not prepare in advance?

[sb1]

I think its mostly a case of people trying to sell material to cover the auction tab. After many major auctions we see a rash of better material on the BST in an effort to raise cash after they win an item. Could be a small, medium or large purchase.

[Rhotchkiss]

Originally Posted by sb1

i think its mostly a case of people trying to sell material to cover the auction tab. After many major auctions we see a rash of better material on the bst in an effort to raise cash after they win an item. Could be a small, medium or large purchase.

100%.

[bnorth]

Originally Posted by Lorewalker

This is 2024 not 1894. How long can it take to get money transferred to an account where a payment can then be made? 6 hours? I can do it in seconds if the money is not already in my account.

And if you know you are bidding and possibly going to spend a good deal of money, why not prepare in advance?

Weirdly that isn't how it works most of the time. I owned a construction company and the more money the client had the harder/longer it took to get paid.

Wouldn't work in auctions. In construction we would add 10% to the bid. If they paid with in 7 days of completion of job they got a 10% discount or what it would normally cost. If I had to wait they paid a 10% fee after 7 days. This was a must for wealthy people and Churches. Almost all poor people tried to pay before you even finished the job in my 20+ years of real life experience.

I figured this was more about a forum member not paying for something. Nice to see I was wrong.

[Republicaninmass]

Originally Posted by Lorewalker

This is 2024 not 1894. How long can it take to get money transferred to an account where a payment can then be made? 6 hours? I can do it in seconds if the money is not already in my account.

And if you know you are bidding and possibly going to spend a good deal of money, why not prepare in advance?

Ask the data scientist , he has specifics

[ichieh]

Heritage is a reputable AH and I have nothing but positive things to say about them. They are reasonable and will work with you if some unforeseen issue occur.