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HELLO FRIENDS.I HAVE BEEN LOOKING AT PORCELEN ON EBAY FOR A LITTLE MORE
THAN A YEAR NOW.
AND OFTEN I SEE ITEMS SHOW UP AGAIN A WEEK AFER THEY WERE SOLD!
I CANT UNDERSTAND THE BUYERS WHO BID ON ITEMS AND DONT PAY.
/MIKAEL
Some buyers in China in particular, or buyers abroad wanting to sell to Chinese collectors, will chase auctions and win the bid. After the auction they'll then send out images to possible buyers, if they then will find out they haven't a customer, or the customer won't pay enough. The winning bidder just walks away from the deal.
Some bidders will also run up an item, win it and then bail forcing the seller to relist it again, often, in this case, it will sell for less. The smart sellers then relist with a RESERVE around the last price realized.
Its a pain in the neck and eBay has been steadfastly reluctant to take any serious steps to mitigate the problem.
and so it goes.
Peter
Peter
I have seen lot that it bad for eBay not do nothing
In general, this happens at all auction houses. eBay asks buyers to pay within the week. When we sell stuff at auction in New York - payment can take months to receive. I even have a colleague who sold two Yongzheng plates to one of the wealthiest porcelain collectors in China through a major auction house - payment took almost a year. eBay, which allows an unpaid item case to be opened within 3 days, is perhaps a little unforgiving when it comes to large ticket items and payment.
I think things have gotten better (knock on wood). I've seen very little of this in the last two years in comparison with 5-6 years ago. The average US salary is currently $3284 per month, and 57% of US having less than $1000 in savings with 39% having no savings - those numbers dont mix well with expensive internet sales that require quick payment. And sometimes getting payment from Asia can take a little finessing to get it done.
It's a reality of all markets. I think there was a large diamond, the Pink Star, at Sotheby's that didn't get paid for a year or so ago. It happens. And high prices, paid or not, keep the market up. What people are doing, acting as dealers before making payment, is pretty common. A lot of wealthy art buyers purchase through middle men who are supposed to stick to a price and certain criteria...
It is what it is!
A few years ago Poly Group Auctions in Shanghai reported an annual "un-paid rate" of just over 50%.
Peter
Peter
Yikes... that's high. But, I think Poly offered a lot of questionable pieces in the sales I viewed of theirs. I think I also remember reading something where their consignors were bidding on their own items...
It is what it is!
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Topics and categories on The BidAmount Asian Art Forum | Chinese Art
Kangxi vases, Kangxi dishes and chargers, Kangxi ritual pieces, Kangxi scholar's objects, Qianlong famille rose, Qianlong enamels, Qianlong period paintings, Qianlong Emporer's court, Fine porcelain of the Yongzheng period. Chinese imperial art, Ming porcelain including Jiajing, Wanli, Xuande, Chenghua as well as Ming jades and bronzes.
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The BidAmount Asian Art Forum | Chinese Art
A free Asian art discussion board and Asian art message board for dealers and collectors of art and antiques from China, Japan, Korea, Thailand, Cambodia, Vietnam and the rest of Asia. Linked to all of the BidAmount Asian art reference areas, with videos from plcombs Asian Art and Bidamount on YouTube. Sign up also for the weekly BidAmount newsletter and catalogs of active eBay listing of Chinese porcelain, bronze, jades, robes, and paintings.
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Bonhams : Fine Chinese Art We use cookies to remember choices you make on functionality and personal features to enhance your experience to our site. By continuing to use our site you consent to the use of cookies. Please refer to our privacy and cookie policies for more information.
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