I pay all consignors on the last day of the month following the month in which the items are sold. That way we pay hundreds of consignors once every month, for the items that sold 30 to 59 days prior.
We are supposed to only pay for items that have been paid in full. If an item has not been paid in time, and it is relatively inexpensive, I will go ahead and pay for it, since 99% of *OUR *buyers actually pay in full (and you can tell that this is true because you see so few repeats of the same exact item in *OUR* auctions). If a buyer returns an item after I paid the consignor I usually just re-auction the item and absorb any loss. I can afford to so this because *WE *describe items very accurately, both as to condition and originality, so it comes up for less than one in one thousand items. Of course, I have to go on a case by case basis, so as to avoid being scammed. If I auction a high dollar item and a "buyer" has not paid when the payout time comes, I offer the consignor the option to either relist the item or to have it returned. Bruce On Fri, Feb 5, 2010 at 2:22 PM, Michael B <[email protected]> wrote: > 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.
