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Iconic Auction payment problem

Good morning,

I would like to ask you if anyone had negative experience with Iconic Auction.

I sold my items on 21^st of June 2015 and I am still waiting for payment.

Mr. Jared Mast told me that check would be sent at the beginning of August but nothing received till now.

I ask explanation every day, but nobody reply me.

Anyone knows how to communicate with them and solve this matter?

Thanks and regards

Francesco

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Permalink Reply by Paul on September 1, 2015 at 12:28am

There not the most reputable business I believe, how about a money transfer, wouldn't that be more appropriate than a cheque.

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Permalink Reply by Paul on September 1, 2015 at 12:30am

Also fran, the mail is slower these day going through customs, they cut staff because the business hasn't been doing well. It could be around the corner.

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Permalink Reply by Francesco Collina on September 1, 2015 at 12:44am

Dear Paul,

Thanks for your reply.

It was my first time I sold an item in an auction memorabilia. Yes maybe transfer was better but nobody ask me what method of payment i preferred.

Regarding mail, i live in Italy so I agree with you that it needs more time to arrive, but I hope they didn't sent a check by standard mail.

A check must be sent be registered mail at least, so it can be traceable in any time., but I nobody in IA give me a tracking number.

so I don't know if the check is coming , if it has been sent , if it has been lost and if i get paid.

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Permalink Reply by Paul on September 1, 2015 at 12:53am

I had you mixed up with the Australian Fran, nevermind.
I'm sure the Americans will be helpful.

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Permalink Reply by Nate on September 1, 2015 at 4:09am

I'm also due for a payment. It was also my first time (and I won't be going back). The payment is, as yet, not late because it is due today, but as I have heard nothing from them since the item sold I think it is safe to say it will be late.
BTW - I was told payment would be via wire transfer.

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Permalink Reply by Francesco Collina on September 1, 2015 at 6:40am

Thanks for your reply

I hope you have better luck than me.

I think that lack of communication is not acceptable especially if you are handling money and valuables

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Permalink Reply by Nate on September 1, 2015 at 9:02am

Thank you, and I will let you know how it goes.

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Permalink Reply by Bruce Juice on September 1, 2015 at 12:46pm

What did you sell Nate -- and what did it sell for if I might ask? Were you happy with the final price?

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Permalink Reply by Nate on September 1, 2015 at 1:09pm

It was a Clapton LP. Personally I was happy with the price, though others might not have been. But still nothing yet from the people at Iconic, in fact no contact at all since the completion of the auction (though I have emailed them), so let's see if they have decided to stop paying their sellers or are just not very good at keeping to their word (or, just maybe, they leave things to the very last second. Tomorrow will tell on that one).

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Permalink Reply by Francesco Collina on September 1, 2015 at 1:49pm

Dear Nate,

Payment is usually made within 30 business days.

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Permalink Reply by Nate on September 1, 2015 at 2:02pm

Ah! Yes, my bad, next week I'll find out. Apologies, RR may have had some issues but at least they contact the sellers after the auction to confirm pay-outs/dates etc. as I have had nothing I had to check the T&Cs again.

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Permalink Reply by Steve Cyrkin, Admin on September 1, 2015 at 6:56pm

I don't know Iconic's payment terms, but 45 days to pay consignors is common for many auctions, because the buyer may have 30 days to pay the auction house.