Auction House Payments

I was curious about what we all thought was a reasonable amount of time from the end of auction to payment. I have only consigned to REA and Sterling in the past with very fast turn around to payment.

Lee

I think what lee meant is what is a "reasonable" amount of time from end of auction to payment.

Well...I'm still waiting for my $$$$ from Goodwin...I was told 30 days from the end of the auction until payment...which will be this coming saturday...so we shall see!

Personally...I think 2 weeks or less is what I'd call reasonable.

I'll let you guys know what my ultimate ""realizable" date I receive payment is?!?!

Nobody tops Sterling in terms of customer service. I received payment very quickly from Brian. (I think his accepting Paypal really may end up being a competitive advantage... faster to get money in = faster to turn it around.)

I have also received money quickly from B&L. I've never consigned anything that was "REA worthy", so I can't speak to them, but have consistently heard only positives about their turn around times.

It took a while to receive money from Legendary and I still haven't gotten my Goodwin check yet.

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.

Brian...I agree with your assessment...and I'm glad you haven't received Goodwin payment yet! Makes me feel better!

Goodwin is a one man operation, so i have heard he takes a long time to pay. But, if you consign to him it seems he gets pretty good final bids for his auction.

Thank you for the information, gents, I just consigned a couple of cards to him so it's good to know what to expect. He is very friendly and affable on the phone, and yes his auctions really do seem to pull very high prices at a time when there's not as much money flowing into the hobby.

took me about 45 days to get payment from goodwin...and i had to call him about it. bill is great to work with!

45 days?!?!?!!? yikes!