Reasonable Time for Auction Houses to pay Consigners

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Reasonable Time for Auction Houses to pay Consigners

Post by ullmandds on Mon Oct 31, 2011 6:10 pm

I know this topic has been raised in the past...but...I am NEW to consigning to auction houses...and I recently consigned 4 cards to Goodwin in their last auction ended 9/22/11. Now I have heard Bill Goodwin is one of the slowest houses to pay in the biz...but I'm wondering when...I should become concerned. I contacted Bill a few weeks after the end of the auction asking him when I should expect payment...and he said payment is "usually" sent within 30 days of auction's end.

Once the 30 day period expired...I sent Bill an email asking him when I can expect payment...and he did not respond. I sent him another email this morning to which I have also received no response.

Does anyone have similar experiences with Bill? I must say...to me...this is unacceptable...and I can guarantee I will not be consigning to Bill in the future.

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Re: Reasonable Time for Auction Houses to pay Consigners

Post by ullmandds on Mon Oct 31, 2011 6:11 pm

And please...I don't need to hear how timely the other auction houses are/have been in paying consigners...I've heard it all already...I'm only curious about Goodwin!
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by terjung on Mon Oct 31, 2011 6:21 pm

I just received my consignment payment from Goodwin this past weekend. So, it should be close.


Restating what I said in the other thread - because I think it is still valid - regardless of the auction house.

Two weeks is pretty short if you think about it. They have to send out invoices and wait for the buyer to pay it, then make sure the check clears, and then issue the money to the consignors. If the consignor has their money in two weeks or less, I'd say that is more impressive than reasonable. Somewhere in the two to three week range is reasonable. Three to four weeks is pushing it and over four weeks is unacceptable and requires contact initiated by the AH, IMO.

My understanding is that Bill has been shown to push the 30 day timeframe. My own singular experience (this time) showed it right around the timeframe that I had heard. I think that is just part of the deal with Goodwin. If you need super fast payment, it may not be the right house for you. I didn't need the money in a hurry, but felt he was the right choice for my consignment this time. All of my consignments are on a case-by-case basis as I've consigned to several different houses for several different reasons. They all have their pros and cons - some bigger than others. You've just hit on what may be the biggest negative for Goodwin. It isn't enough to make me stop consigning to him. There are a lot of positives there - including Bill himself, whom I like.


Last edited by terjung on Mon Oct 31, 2011 6:28 pm; edited 1 time in total
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by ullmandds on Mon Oct 31, 2011 6:25 pm

thanks Brian
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by FormerlyKnownasRunscott on Mon Oct 31, 2011 6:26 pm

Hi Guys. I recognized terjung's name and was curious what kind of socialism he was spouting in here.

Just kidding - I'm not a troll. I had to change my userid because I couldn't figure out what email address I had signed up with for this forum.

Happy Monday!
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by ullmandds on Mon Oct 31, 2011 6:28 pm

That's weird?
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by ullmandds on Mon Oct 31, 2011 6:29 pm

Bill just called me and said the winner just paid so he'll be sending me a check this week...I'll be waiting.
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by terjung on Mon Oct 31, 2011 6:30 pm

FormerlyKnownasRunscott wrote:Hi Guys. I recognized terjung's name and was curious what kind of socialism he was spouting in here.


Socialism? Me? That'd be the day. Shocked nono
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by jbonie on Mon Oct 31, 2011 6:32 pm

I seriously wouldn't worry about it. He has an outstanding reputation and moves a lot of big money cards. I sent him a couple of cards in the $700-1000 range two weeks ago and have absolutely no concerns.
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by FormerlyKnownasRunscott on Mon Oct 31, 2011 6:33 pm

I was just messing around. I used to be on a forum with Jay and Lee, but apparently there was a big bang that I missed (that's my theory) <=== now 'creation of the universe' searches without quotes will pick up baseball material. Smile

But seriously, I was digging around in here looking for evidence of a friend who was banned from net54 (can I say that word?) and noticed there wasn't a massive amount of activity in here, and thus anything would probably be welcomed.
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by ullmandds on Mon Oct 31, 2011 6:35 pm

Is this scott Elkins? I heard you/he was deported to Iraq...and was sentenced to be stoned?
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by FormerlyKnownasRunscott on Mon Oct 31, 2011 6:38 pm

Elkins? Don't make me say something I'll regret, and that will make him come out of his trailer in the Appalachians with a shotgun.
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by FormerlyKnownasRunscott on Mon Oct 31, 2011 6:39 pm

I was actually in here looking for Bruce D (Negro leagues collector). Does he have a handle on this forum?
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by sabrjay on Mon Oct 31, 2011 10:43 pm

Scott, Bruce has ever registered here, but if he did, he would be on a very tight leash with none of that royal "we" stuffiness allowed. You've missed a lot over the years. This is the home of wayward and weary. Don't sweat mentioning net54. You won't get told to stop doing it or any threats of banishment if you do it again. We aren't trying to keep net54 hidden from others since pretty much everyone here already knows about it.

Pete, you don't need worry about Elkins posting, unless he has computer privileges in prisons.

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Re: Reasonable Time for Auction Houses to pay Consigners

Post by smtjoy on Tue Nov 01, 2011 2:07 pm

I have had good experiences with Bill for me it took a little over 30 days for me to get paid by Goodwin when I consigned, I also found that calling his cell was much more helpful than emailing him.
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by ullmandds on Tue Nov 01, 2011 3:55 pm

Thanks Scott...personally...If I have to harass the owner of a well known auction house in order to receive payment for consignments...I'll go elsewhere in the future. Not the way I want to do business.
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by terjung on Tue Nov 01, 2011 4:09 pm

I didn't call or email him and it sounds like I got my payment in the same amount of time as those who did, FWIW.
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by bowlingshoeguy on Tue Nov 01, 2011 4:23 pm

Hi Scott, did you use to be a symbol? wave

Lee
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by ullmandds on Tue Nov 01, 2011 6:05 pm

FWIW...I'm still waiting...and a little communication goes a long way.

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Re: Reasonable Time for Auction Houses to pay Consigners

Post by bowlingshoeguy on Tue Nov 01, 2011 6:27 pm

Would it be be unreasonable to have a written agreement from an auction house to pay within 30 days. I still find it interesting that the auction houses can play by there own rules but consignors and buyers are stuck to the laws and rules of the auction.

Lee
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by ullmandds on Tue Nov 01, 2011 7:18 pm

Lee...sounds a little like big business in this country/world?!
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by cccc on Tue Nov 01, 2011 7:53 pm

in this case i really think the buyer just sent the payment late. an auction house probably would rather have a late payment then cancelling the bid and going to the underbidder or returning the lot to consignor etc. bill wouldn't deliberately withold pete's money while sending others out around the 30 day mark.
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by ullmandds on Tue Nov 01, 2011 7:56 pm

I'm over it...and have no ill will towards Bill or Goodwin...I just would have appreciated a little communication which would have put me more at ease. Even to tell me he has not received payment and as soon as he does he'll inform me...that's all!
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by FormerlyKnownasRunscott on Tue Nov 01, 2011 11:30 pm

bowlingshoeguy wrote:Hi Scott, did you use to be a symbol? wave

Lee

Hi Lee, I used to be an icon Sad

I actually chose my avatar with you in mind - I thought this card was a bowler, then realized too late that he was rollerskategiverouterguy instead. You would not want to bowl in those.

Saw your t206's for sale - nice stuff and priced pretty low. I'm taking the opposite approach of most, and starting my new collection with HOF'ers.
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Re: Reasonable Time for Auction Houses to pay Consigners

Post by FormerlyKnownasRunscott on Tue Nov 01, 2011 11:34 pm

ullmandds wrote:I'm over it...and have no ill will towards Bill or Goodwin...I just would have appreciated a little communication which would have put me more at ease. Even to tell me he has not received payment and as soon as he does he'll inform me...that's all!

I have to admit that I no longer consign items. I tried it once and the auction house grouped my items in lots that were easiest for him to create, but did not come anywhere close to maximizing my profit. In addition, I was paid the incorrect amount and had to provide proof to get the rest of my money, AND it took way longer than was reasonable to get my dough.

I know you only wanted to hear about Goodwin, but since you left that out of your post title and got me curious enough to read, you're going to have to listen to me.

Sell your items on forums first - price them reasonably so that you save fees and the buyer saves a few bucks. If that doesn't yield the results you want, put them on ebay. If you really, really, positively have something rare that needs special attention, THEN go to an auction house to sell it. I do actually have a few items that I would never put on ebay, and since I don't know what they are worth (but it's thousands), I would prefer the exposure of a large well-known auction house. PS - I usually sell stuff because I need the money. Another reason not to use auction houses.

Good luck getting your money - I'm sure it will come.
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