Can a Buyer Gets Terms with an Auction House?

Singapore

I'm a collector, not a dealer, and I buy a fair amount at auction (speaking in dollars, not units). Not as much as most dealers, but a lot more than your average collector.

Should I be able to negotiate better than standard payment terms from the big auction houses?

Note: The most intelligent and insightful response to this question will win a medium sized doo-hicky.

jbsteven

I assume as long as you are known at a certain auction house and have a good track record with them then call them up and let them know what you want to do. If I were using payment terms and had been buying a certain level of material and the auction house knows this and decided to either buy more items above this level then I would call the finance guy and let him look at my numbers. If the numbers showed a good payment history then the auction house would benefit from you buying more items from them.

Talk to the finance guy and flat out ask him/her for better terms and a higher limit. I bet they would do it.

sinin1

I am curious on the terms you are interested in?

A lower buyers fee commission?

A line of credit?

A liberal return policy?

A lay-away plan?

A special appointment time for personal viewing?

A 6-month payment plan?

or anyothers that you are considering?

Singapore

I was referring to payment terms - so several of your comments would apply. Could be a lower buyers fee, but I am more interested in paying over time a la some kind of lay-away.

Likely an auction house would consider a higher buyers fee in return for extended time to pay - don't know though.

And, based on my response here, I believe I am the current leader in the 'most insightful answer' contest.

Placid

I think it would depend if you wanted a open layaway plan for any number of coins or if you wanted a layaway for specific single coin.
I have asked heritage about a coin I wanted if it was ok if I paid for it on a specific date. It was about three week after the auction closed and they said no problem.
I would call the auction house you want to do business with and talk to the Boss.

RegistryCoin

Sure, just ask.

sinin1

I do not have experience in this but here are my thoughts -

If an auction house is not a dealer themselves - they have to pay sellers in a timely fashion - if you do enough volume, they may be willing to cut a lower percentage buyers fee.

If an auction house is a dealer - then the extended pay would actually be a purchase from them (the dealer), and they may be willing to do that without running through an auction.

If they have a knowledge of your desire for a certain coin/series then then they may actually shill bid you up so you end up paying alot more.

I am sure many dealers would be reluctant for long periods of extended pay because of when the market drops fast (crash?) that has occurred a couple times in the last 30 yrs, they may end up getting hurt.

So, why not try to finance somewhere else if you always are buying (line of credit on some equity you have somewhere)?

I am not sure when coin collecting becomes high-risk speculation, do you have any ideas?