This happened back in the late 1990s so may no longer be relevant. @Old_Collector but I bid on a coin at Heritage and lost. 2 days later I got an e-mail from Heritage telling me the winning bid had been dis- qualified. I was under no obligation, but if I wanted to they would award me the coin. I wanted. James
@Coinscratch said:
It’s like every thread I open up there he is spewing wisdom again. I mean where does he get all this knowledge? Apparently I’m confined to using less than 10% of my brain matter
I'm not sure what your point is. Maybe I'm not using enough.
My point is legitimate. No actual sale has taken place until payment is made. I find it unlikely that an auction house wants to pay for lots that haven't actually sold. The reductio ad absurdum argument exaggerates the point, but that is the nature of the rhetorical device.
It was just an honest observation and nothing to do with the subject matter no reason to over think it.
Something tells me you didn’t do so well with the ladies. 😁
It's interesting that so many people feel free to sinply toss insults. Whatever you think my flaws may be, that's not one of them.
Oddly, no one has even bothered to try to refute the point I made. I guess you just don't like that I'm the one who made it. There is an "ignore" function if you're bothered by my presence.
I thought you had a sense of humor, my bad.
I do. You don't think that reads as insulting?
But, don't worry, we're okay.
I was only reinforcing my compliment with a joke. My apologies as it was meant to be funny not serious.
@seatedlib3991 said:
This happened back in the late 1990s so may no longer be relevant. @Old_Collector but I bid on a coin at Heritage and lost. 2 days later I got an e-mail from Heritage telling me the winning bid had been dis- qualified. I was under no obligation, but if I wanted to they would award me the coin. I wanted. James
@ianrussell said:
Speaking from GC's standpoint, we really don't have any issue with non-payments by bidders. We do everything we can ahead of time to vet/approve bidders to stop issues occurring. We also offer flexible payment terms (our extended payment plan, for example), which helps if someone wins more than they had planned.
The last time we had to cancel something, was actually a mechanical error (which I consider a different situation) - this was 12-18 months ago.
Ian
I'm curious if a buyer uses the EPP, does that delay the seller getting their funds or do you front it?
@ianrussell said:
Speaking from GC's standpoint, we really don't have any issue with non-payments by bidders. We do everything we can ahead of time to vet/approve bidders to stop issues occurring. We also offer flexible payment terms (our extended payment plan, for example), which helps if someone wins more than they had planned.
The last time we had to cancel something, was actually a mechanical error (which I consider a different situation) - this was 12-18 months ago.
Ian
I'm curious if a buyer uses the EPP, does that delay the seller getting their funds or do you front it?
It will never delay payment to the consignor. We fund the extended terms with our own capital.
I recently had a mid four figure coin on HA “sell” and the buyer didn’t pay. The coin was relisted and sold a few months later and I took a $600 haircut. This was the first time this ever happened to me.
I recently had a mid four figure coin on HA “sell” and the buyer didn’t pay. The coin was relisted and sold a few months later and I took a $600 haircut. This was the first time this ever happened to me.
Possibly the coin was returned?
I don’t think HA allows returns. The buyer did not pay for the coin.
I recently had a mid four figure coin on HA “sell” and the buyer didn’t pay. The coin was relisted and sold a few months later and I took a $600 haircut. This was the first time this ever happened to me.
Possibly the coin was returned?
I don’t think HA allows returns. The buyer did not pay for the coin.
I thought most auction houses allowed returns unless it was examined and bought at the auction venue.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I can certainly understand a "no return" policy for coins that are essentially bullion such as those two raw 10P Bogota Mint coins.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I recently had a mid four figure coin on HA “sell” and the buyer didn’t pay. The coin was relisted and sold a few months later and I took a $600 haircut. This was the first time this ever happened to me.
Possibly the coin was returned?
I don’t think HA allows returns. The buyer did not pay for the coin.
I thought most auction houses allowed returns unless it was examined and bought at the auction venue.
Nope, not on the Heritage Signature auctions. As the coins are available for viewing, it is up to the buyer to either inspect the coin or have a representative do so/ In the past, Heritage if time were available, send a desired lot to the interested bidder for viewing and a quick return to the auctioneer. Don't know if that is still available and the terms if it is, but nonetheless, major auctions are not for tire kickers.
I recently had a mid four figure coin on HA “sell” and the buyer didn’t pay. The coin was relisted and sold a few months later and I took a $600 haircut. This was the first time this ever happened to me.
Possibly the coin was returned?
I don’t think HA allows returns. The buyer did not pay for the coin.
I thought most auction houses allowed returns unless it was examined and bought at the auction venue.
Nope, not on the Heritage Signature auctions. As the coins are available for viewing, it is up to the buyer to either inspect the coin or have a representative do so/ In the past, Heritage if time were available, send a desired lot to the interested bidder for viewing and a quick return to the auctioneer. Don't know if that is still available and the terms if it is, but nonetheless, major auctions are not for tire kickers.
Are you saying that someone who buys a coin based only on the seller's pics and wants a return privilege must be a "tire kicker"?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I recently had a mid four figure coin on HA “sell” and the buyer didn’t pay. The coin was relisted and sold a few months later and I took a $600 haircut. This was the first time this ever happened to me.
Possibly the coin was returned?
I don’t think HA allows returns. The buyer did not pay for the coin.
I thought most auction houses allowed returns unless it was examined and bought at the auction venue.
Nope, not on the Heritage Signature auctions. As the coins are available for viewing, it is up to the buyer to either inspect the coin or have a representative do so/ In the past, Heritage if time were available, send a desired lot to the interested bidder for viewing and a quick return to the auctioneer. Don't know if that is still available and the terms if it is, but nonetheless, major auctions are not for tire kickers.
Are you saying that someone who buys a coin based only on the seller's pics and wants a return privilege must be a "tire kicker"?
More than a few times I politely informed particularly discriminating Ebay customers that they would be better served to shop for coins in person and not over the net. Very short margins on properly graded PCGS holdered coins, limit the services that can be offered.
Have always accepted returns, but the second one generally results in a block.
@Coinscratch said:
It’s like every thread I open up there he is spewing wisdom again. I mean where does he get all this knowledge? Apparently I’m confined to using less than 10% of my brain matter
I'm not sure what your point is. Maybe I'm not using enough.
My point is legitimate. No actual sale has taken place until payment is made. I find it unlikely that an auction house wants to pay for lots that haven't actually sold. The reductio ad absurdum argument exaggerates the point, but that is the nature of the rhetorical device.
It was just an honest observation and nothing to do with the subject matter no reason to over think it.
Something tells me you didn’t do so well with the ladies. 😁
It's interesting that so many people feel free to sinply toss insults. Whatever you think my flaws may be, that's not one of them.
Oddly, no one has even bothered to try to refute the point I made. I guess you just don't like that I'm the one who made it. There is an "ignore" function if you're bothered by my presence.
I thought you had a sense of humor, my bad.
for what it's worth, the ignore jmlanzaf button has saved me at least 10 minutes this week, I still see most of what he writes in the quotes but I don't have to read it twice, it's worth a try, heck, ignore me too, all I do here is cut up, I rarely provide substantial contributions
I've seen some coins on foreign auctions "sell" and then reappear and sell again every 6 months for years, I don't know if it's in-house shilling or deadbeat buyers. I think if you had a well-established client list, you wouldn't have to let unknowns bid, so I suspect the ones I saw were shilling, but who knows?
@Coinscratch said:
It’s like every thread I open up there he is spewing wisdom again. I mean where does he get all this knowledge? Apparently I’m confined to using less than 10% of my brain matter
I'm not sure what your point is. Maybe I'm not using enough.
My point is legitimate. No actual sale has taken place until payment is made. I find it unlikely that an auction house wants to pay for lots that haven't actually sold. The reductio ad absurdum argument exaggerates the point, but that is the nature of the rhetorical device.
It was just an honest observation and nothing to do with the subject matter no reason to over think it.
Something tells me you didn’t do so well with the ladies. 😁
It's interesting that so many people feel free to sinply toss insults. Whatever you think my flaws may be, that's not one of them.
Oddly, no one has even bothered to try to refute the point I made. I guess you just don't like that I'm the one who made it. There is an "ignore" function if you're bothered by my presence.
I thought you had a sense of humor, my bad.
for what it's worth, the ignore jmlanzaf button has saved me at least 10 minutes this week, I still see most of what he writes in the quotes but I don't have to read it twice, it's worth a try, heck, ignore me too, all I do here is cut up, I rarely provide substantial contributions
I’ve used all of my ignore options for the moderators. Jokes! I keep all lines open never wanna miss an opportunity to level the playing field. 😁
@Coinscratch said:
It’s like every thread I open up there he is spewing wisdom again. I mean where does he get all this knowledge? Apparently I’m confined to using less than 10% of my brain matter
I'm not sure what your point is. Maybe I'm not using enough.
My point is legitimate. No actual sale has taken place until payment is made. I find it unlikely that an auction house wants to pay for lots that haven't actually sold. The reductio ad absurdum argument exaggerates the point, but that is the nature of the rhetorical device.
It was just an honest observation and nothing to do with the subject matter no reason to over think it.
Something tells me you didn’t do so well with the ladies. 😁
It's interesting that so many people feel free to sinply toss insults. Whatever you think my flaws may be, that's not one of them.
Oddly, no one has even bothered to try to refute the point I made. I guess you just don't like that I'm the one who made it. There is an "ignore" function if you're bothered by my presence.
I thought you had a sense of humor, my bad.
for what it's worth, the ignore jmlanzaf button has saved me at least 10 minutes this week, I still see most of what he writes in the quotes but I don't have to read it twice, it's worth a try, heck, ignore me too, all I do here is cut up, I rarely provide substantial contributions
How much do I owe you for the space in your head?
I don't think you owe him anything since he evicted you from his head when he put you on ignore.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I recently had a mid four figure coin on HA “sell” and the buyer didn’t pay. The coin was relisted and sold a few months later and I took a $600 haircut. This was the first time this ever happened to me.
Possibly the coin was returned?
I don’t think HA allows returns. The buyer did not pay for the coin.
I thought most auction houses allowed returns unless it was examined and bought at the auction venue.
Returns are a part of business on ebay for example, probably higher than the numismatic auctions.
I know a dealer who has not done business again with Heritage after he bought a 1936 proof set with an issue not described at that time, where they later told him "no returns" on the lot.
Comments
This happened back in the late 1990s so may no longer be relevant. @Old_Collector but I bid on a coin at Heritage and lost. 2 days later I got an e-mail from Heritage telling me the winning bid had been dis- qualified. I was under no obligation, but if I wanted to they would award me the coin. I wanted. James
I was only reinforcing my compliment with a joke. My apologies as it was meant to be funny not serious.
Thank you! Good to know, there is always hope.
I'm curious if a buyer uses the EPP, does that delay the seller getting their funds or do you front it?
It will never delay payment to the consignor. We fund the extended terms with our own capital.
Owner/Founder GreatCollections
GreatCollections Coin Auctions - Certified Coin Auctions Every Week - Rare Coins & Coin Values
‘’We fund the extended terms with our own capital.’’
You’ve actually got “capital” too! 😮
Wondercoin.
I recently had a mid four figure coin on HA “sell” and the buyer didn’t pay. The coin was relisted and sold a few months later and I took a $600 haircut. This was the first time this ever happened to me.
Possibly the coin was returned?
I don’t think HA allows returns. The buyer did not pay for the coin.
I thought most auction houses allowed returns unless it was examined and bought at the auction venue.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I can certainly understand a "no return" policy for coins that are essentially bullion such as those two raw 10P Bogota Mint coins.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Nope, not on the Heritage Signature auctions. As the coins are available for viewing, it is up to the buyer to either inspect the coin or have a representative do so/ In the past, Heritage if time were available, send a desired lot to the interested bidder for viewing and a quick return to the auctioneer. Don't know if that is still available and the terms if it is, but nonetheless, major auctions are not for tire kickers.
Are you saying that someone who buys a coin based only on the seller's pics and wants a return privilege must be a "tire kicker"?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
More than a few times I politely informed particularly discriminating Ebay customers that they would be better served to shop for coins in person and not over the net. Very short margins on properly graded PCGS holdered coins, limit the services that can be offered.
Have always accepted returns, but the second one generally results in a block.
for what it's worth, the ignore jmlanzaf button has saved me at least 10 minutes this week, I still see most of what he writes in the quotes but I don't have to read it twice, it's worth a try, heck, ignore me too, all I do here is cut up, I rarely provide substantial contributions
I've seen some coins on foreign auctions "sell" and then reappear and sell again every 6 months for years, I don't know if it's in-house shilling or deadbeat buyers. I think if you had a well-established client list, you wouldn't have to let unknowns bid, so I suspect the ones I saw were shilling, but who knows?
I’ve used all of my ignore options for the moderators. Jokes! I keep all lines open never wanna miss an opportunity to level the playing field. 😁
I don't think you owe him anything since he evicted you from his head when he put you on ignore.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Returns are a part of business on ebay for example, probably higher than the numismatic auctions.
I know a dealer who has not done business again with Heritage after he bought a 1936 proof set with an issue not described at that time, where they later told him "no returns" on the lot.