Michael, I can only speak for Heritage but we pay on time to all of our consignor and have for the last thirty years. That is why we have to be strict in getting the items paid for in the time allocated by our terms. A buyer can pay via EPP (extended payment plan) but must put down 30% of the funds up front. If the item is not paid for, the consignor is not paid and notified of that fact and has the option of having the item returned or we can auction again in due time. But, we receive far less than 1% returns or non-payment, in our poster auctions.
From: MoPo List [mailto:[email protected]] On Behalf Of Michael B Sent: Friday, February 05, 2010 2:22 PM To: [email protected] Subject: [MOPO] CONSIGNMENT policies a few months ago, i consigned 2 asian antique items to a california auction house that specializes in asian art. after 2/3 months, i asked, WHERE'S MY MONEY? they responded that the high bidder (same bidder of both items) had not yet paid; that i would be paid once HE/SHE paid. QUESTION: what is the policy of the leading poster auctioneers if the high bidder doesnt pay? would the consignor need to wait until payment was received (maybe 4/5 months) or for the item to be reauctioned and payment received? i havent read the "fine print" of our MOPO auctioneers or the big auction houses. if a poster is returned because the buyer said it was "not as decribed"...what happens? of course, a scam could be to consign a 20.00 insert to an auctioneer, and have 2 friends bid it up to 800 IF the policy was to pay the consignor based upon the high bid the first time out regardless of other factors. (ps--i did get my money.....but it was 4/5 months) so i await responses posted here from "the usual suspects". michael Visit the MoPo Mailing List Web Site at www.filmfan.com ___________________________________________________________________ How to UNSUBSCRIBE from the MoPo Mailing List Send a message addressed to: [email protected] In the BODY of your message type: SIGNOFF MOPO-L The author of this message is solely responsible for its content. Visit the MoPo Mailing List Web Site at www.filmfan.com ___________________________________________________________________ How to UNSUBSCRIBE from the MoPo Mailing List Send a message addressed to: [email protected] In the BODY of your message type: SIGNOFF MOPO-L The author of this message is solely responsible for its content.
