Grey Flannel Auctions (Premier Bidding)

[pawpawdiv9]

First, i wanna point out theres nothing nefarious or wrongdoing with them.
I am only asking about the Premier Bidding.
I am already registered there, but i wanted to bid on a 'premier item' and says i needed to 'upgrade to premier status'.
So i clicked to see how its done and etc.

To become an approved Premier Bidder contact our credit department at debbie@greyflannelauctions.com or call 631.288.7800 x223.

Advanced Catalog Delivery
Ability To Bid On Premier Lots
Possible Credit Terms When Available
Platinum Custom Service With Less Wait Times

So, i contacted them thru email, explaining i wanted to bid on an premier item.
I gave them references and mentioned as a Net54 member.
Well, i got this back.

Very simply, we do what we can to protect the bidders and the consignors. The premier lots are the lots that start at $2,500 and go up. Because we do not accept credit cards, we ask that you let us know about what you would like to bid up to and then show us you have that in an account. For example, if you want to bid up to $10,000, we would just need to see something that shows you have at least $10,000 in an account. You can also send over a letter from your bank stating the same.

1- I do not need account numbers. Most people either download and send over a recent bank statement with the account numbers crossed out.
2- It is kept confidential. We would never share your info. with anyone, including other auction houses.
3- We do not hold you to it. if you get approved to bid up to $10,000 and the bidding starts and you want out at $4,000, you are out. We just know (and you know) that I the bidding goes up to $10,000 +; you and the other bidders are serious about bidding. It isn't someone just running up the bid.
4- You never have to go thru this process again. Once you are approved to bid on premier lots, you are approved to bid on premier lots in all future auctions.

If you have any questions, please feel free to give me a call. You can also send over any info. directly to me at this email.

Debbie

I dont' know how some of you folks like this or not, but surely i am not gonna give a AH on how much i got in my bank account.
I wonder if their consignors know this and protecting their interest.
Thoughts???

[familytoad]

This is one business model I wouldn’t endorse as a buyer.
No way am I doing this with any AH!

Any place that doesn’t take credit cards is already leaving behind potential business . Also , not taking credit cards could be more impactful to consigners than this crazy model.

If an AH wants to vet out their bidders, there surely must be a better way.
Were they continually getting stiffed?

[Leon]

As someone who has a task of vetting people I don't blame them for that policy. Just my opinion...
If i had an issue I would pick up the phone and work it out. Not a big deal if you ask me.
As for not taking credit cards I am neutral. It is a pure business decision but if a buyer wanted to pay the additional cc fees then not sure why the AH wouldn't accept them (*unless they had problems before).

.

[familytoad]

Yup, I assumed the buyer to pay the fees.
One of the benefits of paying via CC is convenience so I’d expect to pay for that.
I’m not sure why the seller would make that choice to not accept them.

But back to the the proof of adequate funding, I wouldn’t show any AH my bank statement. I suppose that *someone* must be doing it to become premiere bidders, but i’d think it would chase even more bidders away.

[swarmee]

Originally Posted by familytoad

I’m not sure why the seller would make that choice to not accept them.

Possibility of chargebacks for 180 days?

[steve B]

Originally Posted by familytoad

Yup, I assumed the buyer to pay the fees.
One of the benefits of paying via CC is convenience so I’d expect to pay for that.
I’m not sure why the seller would make that choice to not accept them.

But back to the the proof of adequate funding, I wouldn’t show any AH my bank statement. I suppose that *someone* must be doing it to become premiere bidders, but i’d think it would chase even more bidders away.

I don't know if it's nationwide, but here it's not actually legal to charge the CC fee to the customer.

Except of course for gas stations who list it as a "cash discount" …

The bike shop I worked for didn't take credit cards for a while. Until I asked the kids working weekends to write down all the stuff people didn't buy because we didn't take cards.
It ended up being more than our sales both weekends...
The owner got set up with a card processor pretty quickly.

[ruth-gehrig]

Not nearly as ridiculous as the major antique car auctioneer mecum.com requires. I've been bidding in their road art auctions for years but recently inquired about getting approval for their car/motorcycle auctions online and they required:
1. What lots specifically I was going to bid on
2. How much my max bid was for those lots
3. 50% deposit for the above amounts which would be returned to me via check withing 30 days if I didnt win anything.

Nope
Nope and
Nope

[Stampsfan]

I’ve never understood why any business would make it difficult for potential customers to purchase something.

[ruth-gehrig]

Originally Posted by ruth-gehrig

Not nearly as ridiculous as the major antique car auctioneer mecum.com requires. I've been bidding in their road art auctions for years but recently inquired about getting approval for their car/motorcycle auctions online and they required:
1. What lots specifically I was going to bid on
2. How much my max bid was for those lots
3. 50% deposit for the above amounts which would be returned to me via check withing 30 days if I didnt win anything.

Nope
Nope and
Nope

I dont necessarily mind the hoops needed to jump through but the potential for fraud and use of my deposit doesnt sit well with me!