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  #1  
Old 04-07-2021, 11:44 AM
chriskim chriskim is offline
Chris Kim
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Default 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.
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Old 04-07-2021, 02:04 PM
keithsky keithsky is offline
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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  
Old 04-07-2021, 03:08 PM
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Tabe Tabe is offline
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If getting paid in a month is "fast", what is standard for auction houses?
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Old 04-07-2021, 03:38 PM
chriskim chriskim is offline
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Originally Posted by Tabe View Post
If getting paid in a month is "fast", what is standard for auction houses?
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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Old 04-07-2021, 04:30 PM
Aquarian Sports Cards Aquarian Sports Cards is offline
Scott Russell
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Quote:
Originally Posted by Tabe View Post
If getting paid in a month is "fast", what is standard for auction houses?
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?
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Old 04-07-2021, 04:57 PM
sb1 sb1 is offline
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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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Old 04-07-2021, 05:03 PM
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Casey2296 Casey2296 is online now
Is Mudville so bad?
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Quote:
Originally Posted by Aquarian Sports Cards View Post
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?
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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Old 04-07-2021, 05:20 PM
chriskim chriskim is offline
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Originally Posted by Casey2296 View Post
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...
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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Old 04-08-2021, 05:18 AM
Aquarian Sports Cards Aquarian Sports Cards is offline
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Originally Posted by Casey2296 View Post
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...
You sir, are a genius!
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  #10  
Old 04-07-2021, 05:30 PM
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Tabe Tabe is offline
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Originally Posted by Aquarian Sports Cards View Post
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?
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.
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  #11  
Old 04-07-2021, 08:27 PM
notfast notfast is offline
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Quote:
Originally Posted by Tabe View Post
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.
Agreed.

AH are requiring payments in 10 days. Why should it take two more weeks to issue payments to consignors?
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  #12  
Old 04-08-2021, 05:20 AM
Aquarian Sports Cards Aquarian Sports Cards is offline
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Quote:
Originally Posted by Tabe View Post
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.
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.
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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!

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and Facebook: https://www.facebook.com/thecollectorconnectionauctions
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  #13  
Old 04-07-2021, 05:12 PM
bigfish bigfish is offline
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Default goldin???

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If getting paid in a month is "fast", what is standard for auction houses?


Robert Edwards pays me in two weeks or less. Same for memory lane and clean sweep.....
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  #14  
Old 04-07-2021, 03:40 PM
chriskim chriskim is offline
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Originally Posted by keithsky View Post
I wouldn't worry about how much it cost Goldin to mail out checks. They generate enough money each auction there not hurting.
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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