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If you consign a coin to Teletrade, and the winning bidder does not pay for the coin what happens?

CaptainRonCaptainRon Posts: 1,189 ✭✭
in U.S. Coin Forum
If you consign a coin to Teletrade, and the winning bidder does not pay for the coin what happens?

Do they re-auction it off for the consigner?
Do they ever buy the coin themselves and then re-auction it off, at a later date?
Just send the coin back to consigner?
Does the consigner still have to pay the sellers fee?

Does Heritage operate the same way?

I never consigned a coin to Teletrade but often wondered about this.

Regards
Ron
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Comments

  • tombrtombr Posts: 863 ✭✭
    No fees if the winner doesn't pay. They will re-auction for you. I've never had any problems.
  • PlacidPlacid Posts: 11,299 ✭✭✭
    I had one item that was listed as sold at a Heritage auction show up later in a different one.
    No idea if the person didnt pay or returned the item as Heritage didnt tell me the reason.
    No fees to me other than for the second sale.

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