Long wait for an auction invoice

Boosibri

So I bought a coin from an Italian auction in the first week of December (Italian auction gamble). I am still waiting for the auction invoice, another forum member is in the same boat. These are not cheap coins, four figures each, collectively five figures between us.

How long is unreasonable to wait for an invoice or even a response from the company after emails and telephone calls which promised action? At what point does the sale become void due to their lack on action? With the holidays the time will have run well over a month.

I am not out any money but I had hoped to have the coin turned over, graded and ready for the FUN show. Now at this pace with them the June Long Beach seems more likely.

Bochiman

Curious, since I know nothing about auction houses in other countries.....did you do any research to see if this is the norm for them, outside of holiday season?
If it is, then that is what it is.

If not, then is it the holiday season or are they just having problem after problem? Since you are waiting for the invoice, and state you aren't out any money, it is just the flipping exposure that is time based that you mention, that is the issue.
If you are tired of this, I would call again and tell them to cancel it as you are committed to pay when you get a timely invoice but since they can't do that, your funds are going to be used somewhere else.

Boosibri

<< <i>Curious, since I know nothing about auction houses in other countries.....did you do any research to see if this is the norm for them, outside of holiday season?
If it is, then that is what it is.

If not, then is it the holiday season or are they just having problem after problem? Since you are waiting for the invoice, and state you aren't out any money, it is just the flipping exposure that is time based that you mention, that is the issue.
If you are tired of this, I would call again and tell them to cancel it as you are committed to pay when you get a timely invoice but since they can't do that, your funds are going to be used somewhere else. >>



In my past experience, invoices take a week to two max in Europe depending on the size of the firm. Not that I can really do anything about the situation but I am still a little surprised that a decent size firm would be so inept at managing the basics. Culture may also be an issue. I have bought out of Germany and Switzerland which tend to be very prompt as a cultural norm. Italians, not so much.

OldIndianNutKase

I extended credit of about $50K to a very large Italian firm about 15 years ago. I came to find out that really good Italian companies pay in 270 days. Maybe their invoice system is slow to match??

There are better things to do in Italy than business........

OINK

Boosibri

Update, just got the invoice. Now need 6 weeks for an export license even though it is shipping within the EU. Agh Italy.

Eclectic

<< <i>Update, just got the invoice. Now need 6 weeks for an export license even though it is shipping within the EU. Agh Italy. >>


Ironically quick to receive the invoice after yesterday's post!

That said, yes, June does seem like a reasonable time to receive said coin

Boosibri

<< <i>

<< <i>Update, just got the invoice. Now need 6 weeks for an export license even though it is shipping within the EU. Agh Italy. >>


Ironically quick to receive the invoice after yesterday's post!

That said, yes, June does seem like a reasonable time to receive said coin >>



I sent them another note after I made the post. Seemed to have worked. Doing business in Italy is not easy.

Tibor

I started bidding with European auction houses over 10 years
ago. Most have my CC on file. My biggest complaint is the very
slow postal service.