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 Replies: 10 / Views: 2,222 |
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Valued Member
United States
250 Posts |
I have a dumb question hopefully someone can answer. I am trying to get setup online with one of the major online auction houses and they say in their setup instructions to fill out a form to get a bid number so my online bids will be accepted. On the form it says list a credit reference but I'm not sure what to put there? I'm not a dealer but I have excellent personal credit. Has anyone filled out something like this before and what should I put here? Are they looking for something from equifax or something? Thanks in advance.
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Pillar of the Community
United States
5208 Posts |
Where are you trying to sign up at?
I would think a major credit card or 2 would suffice.
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Valued Member
 United States
250 Posts |
It's the Goldberg website. I thought about putting a CC number down, at the end of the day I guess I could just email them and ask too, just didn't know if anyone here had a concrete answer. Thanks.
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Bedrock of the Community
13014 Posts |
Its usually something along the lines of something from your bank or credit card company saying how long youve been with them and if theyve had any problems with you paying. A credit report generally reflects anything that they would have to say, though directly from the bank would have more information if they ever handled any issues internally with you that they made note of.
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CCF Master Historian of USA Commemoratives
 United States
12274 Posts |
I've generally found that when numismatic auction houses request credit references, they are referring to other coin dealers with whom you've done business and/or other auction houses from which you have purchased coins. Regarding the coin dealer names, they are looking for established, well-known, regional/national dealers with whom they are familiar and can contact for verification - your small local coin shop will often not suffice.
Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
United States
3640 Posts |
Never heard of any auction house etc. wanting a credit reference. Sounds a little fishy to me. You bid, you win,
you pay by the method/methods that they require.
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Moderator
United States
23522 Posts |
Quote:
Never heard of any auction house etc. wanting a credit reference. Sounds a little fishy to me. You bid, you win,
you pay by the method/methods that they require. It's what an auctioneer would want if you're going to be bidding on $100k coins. I can't blame them. Goldberg is an old-time house using very traditional auction methods. As far as I know, they do not take credit cards. Direct bank wire is their payment method. |
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Pillar of the Community
United Kingdom
856 Posts |
Quote:
I've generally found that when numismatic auction houses request credit references, they are referring to other coin dealers with whom you've done business and/or other auction houses from which you have purchased coins. Regarding the coin dealer names, they are looking for established, well-known, regional/national dealers with whom they are familiar and can contact for verification - your small local coin shop will often not suffice. This is what I've found. I'm registered with Heritage and Stacks and all I did was list a few of the other auction houses I have dealt with. I've never been asked for any actual financial information, though have noted in term and conditions that auctioneers may want reassurance if you aren't known to them but plan to bid on higher value lots. I imagine a credit card number would do in such cases. |
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Valued Member
United States
293 Posts |
An auctioneer who is a numismatic specialist will generally want a reference from a coin dealer. Those that are not usually will take a bank reference (such as auctioneers with a real estate specialty.
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Pillar of the Community
United States
1839 Posts |
When I registered at Legend-Morphy auctions they had a similar request. I think I listed Heritage Auctions and David Lawrence as references. They ended up calling me to discuss and it was pretty straight forward. As SsuperDdave said if it's an auction house that can put up very expensive coins it's just good business for them to know more about who's bidding.
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Moderator
United States
23522 Posts |
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As SsuperDdave said if it's an auction house that can put up very expensive coins it's just good business for them to know more about who's bidding. It's an unfortunate truth of our day and age that *anyone* can (temporarily) possess a stolen credit line of substantial reach. That's okay for purchases of (say) $500-1000; CC companies write that stuff off every day. But a $100k coin? I don't think so. And they're not approving you for certain purchase limits - that's far too labor-intensive and granular - they're approving you to bid and pay in their auctions without them exerting extra effort once they approve you. How often do we discuss ebay scams here? How often do we (unfortunately) have to tell people that they've just thrown $thousands at a worthless investment? I hate it too, but this is the world we live in. |
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Replies: 10 / Views: 2,222 |
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Posted 12/29/2013 9:41 pm
