How would you react to this request by an auctioneer?
YQQ
Posts: 3,423 ✭✭✭✭✭
just wanted to bid on a few coins, applied for an account, and received this email below:
I did react... but kept my $.
Dear Mr/Miss xxxxxx
Thank you for registering to bid in our auction!
Your bidding ID is : xxxxxx
If you require a ¥1 million bidding credit, you can choose one of the following options:
● Pay a deposit of ¥100,000 (This is the most recommended option.)
● Provide a reference letter from reputable auction companies on your behalf.
● Provide copies of the last three auctions in which you were a successful bidder.
Additionally, kindly supply the name and email address of at least one contact person from any of these companies, as we may need to verify the information. Please note that verification may take some time.
If you require additional bidding credit, a higher deposit will be necessary. The bidding credit will be increased by 10 times the amount deposited.
For example, a deposit of ¥500,000 will provide an additional ¥5,000,000 in bidding credit.
The deposit will be automatically applied to any lots you purchase, and any remaining balance will be refunded within 7 working days after the auction.
You may use one of the following accounts for the deposit:
● Wise Account: info@auction-world.co (JPY Only)
● PayPal Account: info@auction-world.co (JPY Only)
● Bank Account:
○ Account Name: AUCTION WORLD
○ Account Number: 7665507
○ Bank Name: Sumitomo Mitsui Banking Corporation
○ Bank Code: 0009679
○ Branch Name: Hamamatsucho Branch
○ Account Type: Futsuu (Ordinary Account)
○ SWIFT Code: SMBCJPJT
○ Bank Address: 2-4-1 Hamamatsucho, Minato-ku, Tokyo, Japan
○ Bank Phone: +81 3-3436-2781
○ Auction World Address: 1-26-33 Mita, Tama-ku, Kawasaki, Kanagawa, Japan
Please note that the amount we receive from you may be less than the amount you sent due to transfer fees.
If you do not make any purchases and request a refund, we can only refund the amount we received, not necessarily the total amount you transferred.
If you have any questions or need further clarification, please do not hesitate to contact us.
Kind regards,
Auction World Team
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Auction World
Mori Bldg 2F 1-27-8 hamamatsu-cho
Minato-ku Tokyo 105-0013 Japan
TEL:81-3-5425-6188 FAX: 81-3-5425-6189
info@auction-world.co
http://en.auction-world.co/
Comments
Why do they want $600+ US in escrow "deposit"? Credit card limit or bank draft should be adequate.
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Depends on your needs but I was fine with 1 million yen for the coin I was targeting and was able to achieve that limit with providing invoices from other auction houses.
chopmarkedtradedollars.com
I would take my business elsewhere with no hesitation whatsoever.
“Land of the free because of the brave”
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Member since 2026
Successful BST transactions with: Ted 1, JWP, bigjpst, Vetter, nickelsciolist,
That sounds like one of those emails telling you to claim your inheritance all you need is to send a deposit.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Seems reasonable. I’d send them copies of invoices as requested.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.