Selling at an Auction - how long does it take to get paid after car sells

[pu911rsr]

For those that have sold a car at an auction I am wondering how long the various auction houses take to pay the seller after they have been paid by the buyer.

Thanks,

Phil

[trdking]

Typically within a week.

[pu911rsr]

That is about what I would have thought.

Thanks,

Phil

[trdking]

That is of course assuming the your buyer does not drag their feet paying and processing paperwork. and that there are no issues with title transfer.

[Robert5995]

Three weeks, at least - they need to make interest on the $30 mil they netted from the auction!

[pu911rsr]

[QUOTE=Robert5995;888354]Three weeks, at least - they need to make interest on the $30 mil they netted from the auction![/QUO

The auctions are about making $$ for the auctions houses not about the customers.

Phil

[Frank Beck]

Phil,
On a scale from 1-10 it sounds like your experience has been a minus 5.

[pu911rsr]

Let's just say my exceptionally low expectations were not exceeded.

Phil

[sithot]

They want to get paid before you get paid.

[mac73s]

They want to get paid before you get paid.

Exactly....so glad I did not have to go the auction route on the recent sale of my 73-S. The auction houses grab all YOUR money (commission, fees, etc.), YOUR car, and YOUR title....and then you hope they settle up at some time in the future. No thanks.