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#528503 Tue Apr 15 2014 06:24 PM
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I sold 5 items at the Peotone auction on the 28th of February and have been waiting for 46 days for the check! I didn't whine, I didn't call & ask why, I didn't do anything but wait. FOR 46 DAYS! That is totally unacceptable!
I was curious as to the sales percentage, so I hurried out the old calculator and it was 15% on my end too! 15%!
I had almost canceled my sale entries when the commission percentages came out, but the items were already consigned and I was going---so what the heck? I left them in. They sold fairly well--not exceptional, but OK for what they were, so I was satisfied there.
Some may say that 15 % is an OK figure to sell these collectibles(a bit high, but ok) and I agree, but I also believe that the 18% up front from the buyer, cuts down on the bids and ultimately the net to the seller.If it cuts one bid out, it takes out enough to pay most of my commission costs!
There is only one way to take care of that, and it is to go elsewhere! There are other sales venues that aren't so costly and Mr. Morphy is not getting any more from me! I hope he reads this 46 days from now!


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K W FRITH #528504 Tue Apr 15 2014 06:33 PM
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Didn't they provide you information up front on how long it would take to be paid? I would expect 30-days to be an average expectation with possibly 45-days to be maximum. Look at the paperwork you should have from them as a consignor and see if it's spelled out there.

Their site says:

Step 7 - Consignor Payout

Dan Morphy Auctions prides itself in prompt payment to its consignors, payouts are usually made with-in 30 business days after each auction.

So contact them immediately.

I would not have let more than 3-4 business days past that point go by without direct phone contact.

Sadly, even the best intentioned businesses can fail to carry out business properly, so as their client you should keep them on their toes.




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I put a gas pump on a Mecum auction and had a check in less then 2 weeks. Curious if others had to wait as long as Kevin or just a mix up.

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Thank you for letting myself and others know about your experience so we can have ample information to make an educated decision if we want to use their service or not.

Tankar #528512 Tue Apr 15 2014 06:47 PM
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I had things with Dan Matthews before and it was never over 2 weeks.
I also heartily disagree with you that it is our job as consigners, to "keep them on their toes"!
It is their job to "be on their toes" and provide a timely and fair payment for a good consignment!
I consigned with Dan before the switch over and was never given any paperwork! We always did it with a phone call!


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K W FRITH #528526 Tue Apr 15 2014 07:21 PM
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Hopefully this was just a one time glitch.


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Craig Osbeck #528529 Tue Apr 15 2014 07:23 PM
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If the site says 30 business days then it could actually take 46 days if they consider a business day as monday through friday

SKomatinsky #528535 Tue Apr 15 2014 07:34 PM
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Last month in Calif. there was a USPS Double Trailer Fire [total loss] & last week the FedeX Double Trailer Fire [total loss], some things are beyond their control.
I would have called them after waiting 30 days.

SKomatinsky #528536 Tue Apr 15 2014 07:35 PM
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14 days is the norm from every auction house I have consigned with.


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Mike

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K W FRITH #528538 Tue Apr 15 2014 07:48 PM
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My two cents worth:
Kevin has paid 15% plus Dan made another 18% on his items so what more should it take to "keep them on their toes". No one should have to ask or beg for what belongs to them.
I have owned a business for over 30 years and the main rule is
customer service, customer service and customer service!!!!!!!!
I would hope this is an over site on Dan's part but from my experience this does not look good for Dan.
What would I do if I were Dan:
Send Kevin a check via one day Fedx and include his 15%.
46 day is not good business practice and Dan is using Kevin's money!!!

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Recycle68 #528542 Tue Apr 15 2014 08:03 PM
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Was it a MORPHY or MATTHEWS Auction?
Most things can be corrected w/ a phone call.

Dick Bennett #528544 Tue Apr 15 2014 08:13 PM
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i'll lay odds, the buyers dont get 46 days to pay. kinda like taxes, if you owe, they want it by 4-15. if they owe you, you can file anytime after the 15th with no penalties.

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Just a example -I consigned firearms with auction house and paid 17 percent and three weeks before payment. It is what it is do you want to play or not? Something everyone has to decide for themselves. No excuse for the 45 days if policy says 30,but its my thinking that highend items will fetch more dough in the right auction. JM2CW.


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Loyd Pierce #528564 Tue Apr 15 2014 11:45 PM
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I owned an auction house. I wrote out all the consignment checks the day after the sale and mailed them out that same day. It wasn't a small operation anywhere from 150 to 200 checks.

In the auction business there are no receivables. Everyone pays the day of the sale. Auction house makes and collects all their on the day of the sale.

Why should any auction house be holding their customers money for any period longer then a day or two? Do the math $250,000.00 or $500,000.00 (maybe even more) held in a interest bearing account for 30 days or more is what they're after. A 33% (buyers & sellers premiums) take, may not be enough money for them???


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OPPPPS, when I first read the topic I did so to quickly thought it said "46 days to get LAID" I did a double take. But seriously the auctioneer is getting 15% from seller/18% from buyer=33%!!!, that's UNREAL !!! Being a farmer as my main job , I'm not a big fan of the "middle man". To get 33% to sell something that's not theirs! unbelievable! And not even have an auction house which would be an expense. But I'm sure traveling auctioneers have other expenditures, there's advertising, wardrobe that stereotypically consists of old clothes and a worn out cowboy hat, a karaoke machine that they turned into a PA system and probably a rusted out dually truck to get around the auction site. For that big investment they get 33% ??? All joking aside here is the requirements to be an auctioneer.
Be at least 18 years of age;
• Be a citizen of the United States or a legal alien;
• Hold a high school diploma or a high school equivalency certificate;
• Not have been convicted of a felony within five years of the application date;
• Have complete 80 hours of classroom instruction at an Auction school approved by TDLR; and
• Pass an Auctioneer licensing examination.

It's not just auctioneers, the other day my Doctors appointment was only $95, but when I drove over to the car dealership the mechanic wanted $110 an hour! I said "It would be cheaper to have the doctor work on my car". Hope this doesn't get deleted for being critical, but I think it's time people take a stand. If we boycott and/or voice or dislike about maybe things will change. It's NOT ok to charge the seller 15% and then expect the bidder to pay 18%(and yes like Kevin states most people just bid less, probably 18% less). So, the seller is inadvertently paying 33% .

dalin #528570 Wed Apr 16 2014 01:42 AM
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Apparently some people have a different meaning for "On their toes". I guess I should have said "Hold their feet to the fire". Regardless, as a client as much as you might like to believe 100% of what the company says, once you reach the agreed upon timeframe the calls should start so they know they need to do what they say they will do.

Dalin, I know your pain... and the sad part is the actual mechanic may make less than 50% of that figure. I remember when I worked for a company as a consultant, they billed my time out at $50/hr and paid me $22.50. I think starting mechanics are probably $25/hr with master mechanice $35/45hr.




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Recycle68 #528576 Wed Apr 16 2014 03:55 AM
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Again, Another complaint regarding Morphy's Auctions, and yet, by Kevin's own admission, he did not call them to inquire why he had not received a timely payment. When are the complainers going to call the auction house and get real answers.

I have no association to Morphy's nor am I happy with some of their rules, but I have taken the time to call them directly and tell them of my concerns.

Being a collector for 27+ years, I have seen many auction companies come & go. Some were crooks and some were not honest in their business practices, but it is hard to find a reputable auction group who can fill all of our needs. Now is a prime time for that auction house to step forward and earn our trust & respect. I do not know who that company is yet, but hopefully someone will step forward and accomplish that task. I feel that as this year of shows & auctions play out, that auction house will make its presence known and all of these issues will hopefully be resolved.

mdmike #528577 Wed Apr 16 2014 04:07 AM
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There is no need to have to call them. They and any other auction co. should be bending over backwards to please the customer. For the higher fees they charge they should be held to a higher standard.
And complaints should be aired here on a public forum, many people on here are consignors or are thinking about consigning and certainly should know about the company.


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dalin #528578 Wed Apr 16 2014 04:26 AM
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So they are getting a 1/3 of each item that is sold. So these rare harbor or beacon signs. There seems to be one of each in the past few auctions that sell for 50k they take home 16.5k off that one sign! Catfish farming is the wrong business to be in!


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katfsh #528579 Wed Apr 16 2014 04:54 AM
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Maybe it's a good thing they are not doing the CTO auction.


Steve Coppens
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Really want a Sunoco National pump ad glass!!
Steven C. #528580 Wed Apr 16 2014 05:22 AM
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Sounds like the new Ebay in a smaller way all over again! Lock in the profits at all costs.

***** on the seller once he becomes dependent upon your services do to their enormous reach & audience size.

Good for business but not good for seller relations.


Wanted TEXACO related items & SUNOCO related items .Signs -Globes et'c. Oil Cans - Grease cans .
Steven C. #528582 Wed Apr 16 2014 05:32 AM
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Would they let me play if I told them my check would not clear for 30 days? I'm with Kevin, KW and Dave. Makes E-bay more attractive. Ron Lease-Collector. ;;;;;;;;;;

oillease55 #528587 Wed Apr 16 2014 05:50 AM
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46 days is inexcusable. What other explanation can there be than "float", like Dave said? I can see reasonable travel and processing time - like maybe 7-10 days.... I also agree that 33% is too much, especially when they have no inventory cost! I have heard that Morphy charges up to to 25% buyers premium at some of their sales. After all this, eBay's 13% total doesn't seem so bad.

Signs&Neons #528592 Wed Apr 16 2014 06:01 AM
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Originally Posted By: Signs&Neons
After all this, eBay's 13% total doesn't seem so bad.


I remember many people upset when ebay changed their fee structure. Seems like a bargain..


FREEDOM oil items wanted.




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Originally Posted By: Ryan Underthun
Originally Posted By: Signs&Neons
After all this, eBay's 13% total doesn't seem so bad.


I remember many people upset when ebay changed their fee structure. Seems like a bargain..



Not to mention a much much larger audience!!


Steve Coppens
Always interested in Sunoco items!
Really want a Sunoco National pump ad glass!!
Signs&Neons #528595 Wed Apr 16 2014 06:09 AM
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I charge 15% and sometimes less on certain situations but you get paid within a week or two when it sells on my site gasglobes.com I feel it's fair. Any less it's not worth it unless the item is big bucks. Seem to work out. Scott B.

scottpcm #528603 Wed Apr 16 2014 06:57 AM
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It's better then 47...LOL


Collecting Vintage Sunoco
Cold Pizza #528665 Wed Apr 16 2014 01:35 PM
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Several years ago the Iowa Gas auction was done by a small time local auction company. No on line catalog or internet sales. Some of the auction stuff were things that did not sell on the show field prior to the auction. This limited the buyers as for the most part it was on site bidders only. Good for the buyers but probably not good for the sellers. Matthews Auctions took advantage of new technology and got internet bidding, online auction catalogs and mailed out fliers and paper catalogs to get more potential buyers. This was better for the sellers as it helped drive up prices. This extra advertising is not free to the auction house and is probably what accounted for the buyers and sellers premiums being what they were. The auction company is a buisness and they need to make if worthwhile if they are to stay in buisness. In my opinion, Dan was doing it right and had the right size operation. Now Matthews was taken over by Morphys. A bigger company will have higher expenses. This can be bad for both the buyers and sellers. Time will tell if Morphy is as successful as Matthews. If they said 30 buisness days to get paid, that could end up being about six weeks. To long in my opinion but if it was stated up front, probably not something to complain about. A bigger company will have more auctions going on at once with the resulting more paperwork and payments. They may get things smoothed out in the future with the oil and gas auctions but then again, it is an auction no matter what you are selling and you would think they would have their system already in place. I think Dan Matthews had a good thing going and was the right size. Time will tell who rises to the top as the next Oil and Gas collectables go to auction company.


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Recycle68 #528671 Wed Apr 16 2014 02:13 PM
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Morphey opened up paying by check or any other means meaning you had 2 weeks to pay for item after you bought it.
Dan had check cash or cc day of the auction. If you bidded on internet you got billed That day! Dan operated different that morphey does.
They did say 30 business days... Not 30 days.
It's not dan Matthews anymore. Call morphey and complain!


Looking for anything from Hoosier Pete, Platolene 500 and Red Bird.
Jarvis #528676 Wed Apr 16 2014 02:48 PM
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How long were you made to wait John?

Dick Bennett #528678 Wed Apr 16 2014 02:54 PM
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Take into consideration time value of money...the longer they hold the money the more time they can use it to fund the business.


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57tbirdkid #528701 Wed Apr 16 2014 04:40 PM
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At 14k+ profit on a 62k Harbor sign multiplied by all the other lots I would imagine business is not suffering.

Just making a statement fellas...

Regarding the subject brought to our attention, I believe JJ said it best. If in fact it says 30 business days and that was meet, then what's the issue. Move on......

Last edited by Chevrolet SS; Wed Apr 16 2014 04:50 PM.

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Chevrolet SS #528705 Wed Apr 16 2014 05:10 PM
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Originally Posted By: Chevrolet SS
At 14k+ profit on a 62k Harbor sign multiplied by all the other lots I would imagine business is not suffering. ....


This has nothing to do with a business doing well or not doing well. Using someone elses money for 30 days or 46 in this case with no interest is a pretty good deal I would say....


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Dick Bennett #528708 Wed Apr 16 2014 05:11 PM
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Now I'm looking at some signs of his in an upcoming auction I don't want to pay 20%.


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57tbirdkid #528721 Wed Apr 16 2014 05:43 PM
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Originally Posted By: 57tbirdkid
[quote=Chevrolet SS]Using someone elses money for 30 days or 46 in this case with no interest is a pretty good deal I would say....


Just like the credit card companies. Darn straight I will use their money for 30 days free if they offer that. Anyone who doesn't should start. When the monthly statement arrives...pay it!

However, any seller has a choice of how to liquid inventory. It's also their choice what auction company to utilize if that is the route chosen. If the contact was read and it disclosed up to 30 business days for proceeds to be received by consignor. Then why complain about something that's spelled out in black & white (if those are the actual facts).

Life is full of decisions...if you made one and it's not to your satisfaction, then don't repeat it.


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Chevrolet SS #528724 Wed Apr 16 2014 06:02 PM
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I just want to know one thing, why do all of you on here bitch and complain to each other and not to me? (are you scared to talk to me???)

Morphy's pay consignor in 30 business which is around 45 days, that is the norm with most but not all big auction companies. One of the reason this happens is that they wait up to three weeks for people to send checks in. Matthews Auctions contracts said 21 business days which is almost 30 days. I did not let people send checks in and if they did they had to be there in six days or they paid a higher percentage, so I had my money faster. Matthews Auctions usually paid in two to three weeks.

And for you that do not know Illinois or Pennsylvania auction law you can only pay consignors out of the escrow account, so you have to have all the money in before you can buy everyone.

Morphy also do not pay a consignor until they are pay.

Also for you people that think they are "super smart" you can not collect interest on fund in an escrow account. Morphy makes no extra money on the consignor's fund from interest.

I will not respond anymore to anybody else on here.

You can call me, my number is 217-259-7059

I bet no one calls.

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