#528503
Tue Apr 15 2014 06:24 PM
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Joined: Oct 2007
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OP
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I sold 5 items at the Peotone auction on the 28th of February and have been waiting for 46 days for the check! I didn't whine, I didn't call & ask why, I didn't do anything but wait. FOR 46 DAYS! That is totally unacceptable! I was curious as to the sales percentage, so I hurried out the old calculator and it was 15% on my end too! 15%! I had almost canceled my sale entries when the commission percentages came out, but the items were already consigned and I was going---so what the heck? I left them in. They sold fairly well--not exceptional, but OK for what they were, so I was satisfied there. Some may say that 15 % is an OK figure to sell these collectibles(a bit high, but ok) and I agree, but I also believe that the 18% up front from the buyer, cuts down on the bids and ultimately the net to the seller.If it cuts one bid out, it takes out enough to pay most of my commission costs! There is only one way to take care of that, and it is to go elsewhere! There are other sales venues that aren't so costly and Mr. Morphy is not getting any more from me! I hope he reads this 46 days from now!
Everything Cities Service Specializing in old Gas Pumps kwfrith@gondtc.com Cell#-701-739-6133
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Please - NO offers to Buy or Sell in this forum category
Statements such as, "I'm thinking about selling this." are considered an offer to sell.
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Joined: Feb 2011
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Didn't they provide you information up front on how long it would take to be paid? I would expect 30-days to be an average expectation with possibly 45-days to be maximum. Look at the paperwork you should have from them as a consignor and see if it's spelled out there.
Their site says:
Step 7 - Consignor Payout
Dan Morphy Auctions prides itself in prompt payment to its consignors, payouts are usually made with-in 30 business days after each auction.
So contact them immediately.
I would not have let more than 3-4 business days past that point go by without direct phone contact.
Sadly, even the best intentioned businesses can fail to carry out business properly, so as their client you should keep them on their toes.
Collecting anything keeps you young at heart!
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Joined: Oct 2008
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I put a gas pump on a Mecum auction and had a check in less then 2 weeks. Curious if others had to wait as long as Kevin or just a mix up.
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Joined: Aug 2007
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Thank you for letting myself and others know about your experience so we can have ample information to make an educated decision if we want to use their service or not.
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Joined: Oct 2007
Posts: 12,282 Likes: 12
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I had things with Dan Matthews before and it was never over 2 weeks. I also heartily disagree with you that it is our job as consigners, to "keep them on their toes"! It is their job to "be on their toes" and provide a timely and fair payment for a good consignment! I consigned with Dan before the switch over and was never given any paperwork! We always did it with a phone call!
Everything Cities Service Specializing in old Gas Pumps kwfrith@gondtc.com Cell#-701-739-6133
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Joined: Jan 2009
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Hopefully this was just a one time glitch.
Craig
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Joined: Jun 2012
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If the site says 30 business days then it could actually take 46 days if they consider a business day as monday through friday
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Joined: Oct 2000
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Last month in Calif. there was a USPS Double Trailer Fire [total loss] & last week the FedeX Double Trailer Fire [total loss], some things are beyond their control. I would have called them after waiting 30 days.
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Joined: Jan 2012
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14 days is the norm from every auction house I have consigned with.
Thanks Mike
Always Looking for any Pure Oil and Sunoco Items.
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Joined: Jan 2011
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My two cents worth: Kevin has paid 15% plus Dan made another 18% on his items so what more should it take to "keep them on their toes". No one should have to ask or beg for what belongs to them. I have owned a business for over 30 years and the main rule is customer service, customer service and customer service!!!!!!!! I would hope this is an over site on Dan's part but from my experience this does not look good for Dan. What would I do if I were Dan: Send Kevin a check via one day Fedx and include his 15%. 46 day is not good business practice and Dan is using Kevin's money!!!
Last edited by Recycle68; Tue Apr 15 2014 08:01 PM.
Gas Pumps, Farmall tractors and 1968 Chevrolet Impalas
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Joined: Oct 2000
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Was it a MORPHY or MATTHEWS Auction? Most things can be corrected w/ a phone call.
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Joined: Nov 2010
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i'll lay odds, the buyers dont get 46 days to pay. kinda like taxes, if you owe, they want it by 4-15. if they owe you, you can file anytime after the 15th with no penalties.
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Joined: Jan 2011
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Just a example -I consigned firearms with auction house and paid 17 percent and three weeks before payment. It is what it is do you want to play or not? Something everyone has to decide for themselves. No excuse for the 45 days if policy says 30,but its my thinking that highend items will fetch more dough in the right auction. JM2CW.
*Wanted Pierce Pennant Petroleum*
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Joined: Dec 2011
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I owned an auction house. I wrote out all the consignment checks the day after the sale and mailed them out that same day. It wasn't a small operation anywhere from 150 to 200 checks.
In the auction business there are no receivables. Everyone pays the day of the sale. Auction house makes and collects all their on the day of the sale.
Why should any auction house be holding their customers money for any period longer then a day or two? Do the math $250,000.00 or $500,000.00 (maybe even more) held in a interest bearing account for 30 days or more is what they're after. A 33% (buyers & sellers premiums) take, may not be enough money for them???
Dave GILL, Dave's Garage & Memorabilia, Inc.
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Joined: Mar 2012
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OPPPPS, when I first read the topic I did so to quickly thought it said "46 days to get LAID" I did a double take. But seriously the auctioneer is getting 15% from seller/18% from buyer=33%!!!, that's UNREAL !!! Being a farmer as my main job , I'm not a big fan of the "middle man". To get 33% to sell something that's not theirs! unbelievable! And not even have an auction house which would be an expense. But I'm sure traveling auctioneers have other expenditures, there's advertising, wardrobe that stereotypically consists of old clothes and a worn out cowboy hat, a karaoke machine that they turned into a PA system and probably a rusted out dually truck to get around the auction site. For that big investment they get 33% ??? All joking aside here is the requirements to be an auctioneer. Be at least 18 years of age; • Be a citizen of the United States or a legal alien; • Hold a high school diploma or a high school equivalency certificate; • Not have been convicted of a felony within five years of the application date; • Have complete 80 hours of classroom instruction at an Auction school approved by TDLR; and • Pass an Auctioneer licensing examination.
It's not just auctioneers, the other day my Doctors appointment was only $95, but when I drove over to the car dealership the mechanic wanted $110 an hour! I said "It would be cheaper to have the doctor work on my car". Hope this doesn't get deleted for being critical, but I think it's time people take a stand. If we boycott and/or voice or dislike about maybe things will change. It's NOT ok to charge the seller 15% and then expect the bidder to pay 18%(and yes like Kevin states most people just bid less, probably 18% less). So, the seller is inadvertently paying 33% .
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