Rip-off...again? 10/04/2008
 

A dealer friend has just told me this story: She left a bid of GBP 750 at an auction house in the UK. She "won" the item and received an invoice for GBP 550 (plus buyers' premium, for a total of around GBP 660).  So far so good. But then her credit card statement arrived, and the dollar charge was around $1700. Clearly something had gone wrong.  So she called the auction house....and guess what? They had made a mistake.

Are you thinking they had made a mistake in charging her credit card? No, that's not it. Instead, her bid was, they stated, actually GBP 750.....but they had mistakenly invoiced her for only GBP 550.  So they charged her credit card for GBP 750 (plus premium.) What a coincidence that my friend ended up paying her top bid!

The trouble with leaving absentee bids is that you are never quite sure if the item will be knocked down to you for the full amount of your bid. There is no way of checking. Many auction houses are indeed honest, but many are not. When you acquire an item for the full bid you left, the auction may well have been above-board....or was your only competition you? There is always a nagging doubt in your mind, and there is no way of knowing.

When I buy a serious purchase at auction, I pay a dealer to view, assess condition, and bid for me in person. That way I have a reliable condition report and an honest bid. To all you honest auction houses out there: I am sorry I have had to write this, but please clean up your trade. On top of our bids, we buyers pay a hefty buyer's premium, and we deserve honest reliable service.




 


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