Help, please with Mile High Auction

mexpo75 · October 7, 2009 12:04AM

Hi, I was leading bidder on a lot and then 10 days ago I lost my job. I called Mile High and explained my situation and said that I would not be able to honor my bid. They saod not to worry that someone would outbid me. Well, for the first time I actually was the high bidder on the card. As recenly as yesterday afternoon I was told no worries. Well with no job in hand there is no way I can come up with $3k for a card. Has anyone ever had this sort of thing happen to them?

bobbyw8469 · October 7, 2009 12:08AM

Yes...I did with Heritage a LONG time again......never paid......they banned me (which is unfortunate, because they have some nice stuff that sometimes goes cheap)........well, I got back on my feet, and then some, but I am still banned.....

PoppaJ · October 7, 2009 12:13AM

Mile High Auction Payment Agreement - Invoices will be sent to all winning bidders within 3 business days after the auction by mail and e-mail and will contain all of your auction totals, including the items you won, shipping and insurance costs and tax if applicable. A copy of the payment instructions will also be enclosed with your invoice. Any bidder who has not paid in full without having made prior arrangements for late payment will have future bidding privileges revoked. Invoices are payable upon receipt with payment due no later than two weeks from date of invoice. Payments may be made by cash, check, wire transfer ($20.00 charge for wire transfers), or money order. Items paid by cash, wire transfer or money order will be shipped immediately. Unless known to Mile High Card Co., personal checks will be held for 7-10 days before merchandise is approved for shipment. Any returned checks will incur a $30.00 fee. NO CREDIT CARDS will be accepted for this sale. In the event of a Late/Non Payment, the bidder agrees to pay all of the auctioneer's reasonable attorney's fees and costs involved in collection of funds, plus 1.5% interest per month on any unpaid balance, starting from the original due date until the date that all funds have been collected. The jurisdiction for any litigation shall be in the State of Colorado, or the Federal District Court of Colorado at the discretion of the auctioneer. Each of the terms in the auction rules are distinct and separate. If a winning bidder does not honor his or her bid with payment in full per the auction rules, then it is agreed that MHCC at its sole discretion can sell the given item(s) to the under bidder or re offer the items in a future auction, and that the original winning bidder is responsible for any losses incurred or service charges involved in the sale of the said item(s) and that the non paying winning bidder explicitly agrees to pay any and all costs of collection, including, but not limited to, reasonable attorney's fees incurred by MHCC in the collection of these losses and/or service charges from the non paying winning bidder.

Most likely, the item will be sold to the next highest bidder.

PoppaJ

stown · October 7, 2009 4:31AM

Perhaps storm can chime in on this.

Prospective buyer says he does not have the funds to honor his bid and wishes to cancel. He has zero intentions on performing and if he wins, has already said he will not pay, period.

Auction house says, "Don't worry, someone will eventually trump your bid"

Hypothetically if someone bids $1 more than mexpo's highest bid, yet without mexpo, could have purchased it 15% lower...

How in the hades is this not shilling?!?

jimq112 · October 7, 2009 6:44AM

I kind of think you're better off without that card. It looks like it has 48/48 centering side to side.

VintageCardLover · October 7, 2009 6:45AM

sorry to hear about your job loss. better the money in your pocket than theirs.

storm888 · October 7, 2009 6:58AM

"...How in the hades is this not shilling?!? ..."

/////////////////////////////

It's not shilling, BUT it prolly should be considered as such
because the effect is the same, AND the AH was on imperfect
notice that the bid would not be honored.

On the one hand, "Defective notice is no notice at all," but
the AH likely knew the withdrawal was genuine. No way
to prove that, though.

If the AH has a bid-cancel policy, they should have invoked
it when the bidder chatted them up.

Now, the AH is acting within their agreement if they ban
the NPB.

mexpo75 · October 7, 2009 11:19PM

Jimq, confused on the 48/48 post, b ut I confuse easily. Mile High was close yesterday, but I will call them this morning. I will keep you posted. Thanks.

jimq112 · October 8, 2009 12:41AM

PM sent

gosteelers · October 8, 2009 1:41AM

What card are we talking about?

mexpo75 · October 9, 2009 12:22AM

It was 57 Starr Card.

grote15 · October 9, 2009 12:51PM

If you came forward before the auction's end and they told you not to worry about your bid, I don't see how they could possibly expect to hold you to it. You essentially asked them to cancel your bid, and they did now because I'm sure they didn't want the price to go lower. That's their problem now, not yours.

mexpo75 · October 9, 2009 11:38PM

I did come forward, about 8-10 days before the end of auction. And also called every 2-3 days until day before it was ending.

dzolot · October 13, 2009 5:29AM

So how did this turn out?

Help, please with Mile High Auction

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