Advice on payment options to Auction Houses 0

[FormerReader]

All, looking for advice on what payment options are used by others for books greater than $10k. My buying up until now has been less than that and I have used PayPal or a credit card. CL requires a check or wire transfer at this price.

[shadroch]

If they accept personal checks, that is the way to go. A wire transfer can get expensive. 

[FormerReader]

Shadroch, thank you for the advice. This may be a dumb question, but is it safe to pay using a personal check. I guess I’ve always felt comfortable with a credit card or PayPal as you have recourse where you don’t with a check.  I don’t know what I need to worry about with an auction house, but I just want to make sure I ask others who have more experience here.

I may be overthinking this. 

[shadroch]

I'd have no problem paying a major auction house with a check. I doubt comic link is going to fold up their tents and abscound with your funds. 

Edited November 16, 2021 by shadroch

[FormerReader]

On 11/16/2021 at 11:01 AM, shadroch said:

I'd have no problem paying a major auction house with a check. I doubt comic link is going to fold up their tents and abscound with your funds. 

Fair point. I’m being overly concerned. Thank you for the advice.

[KCOComics]

On 11/16/2021 at 10:58 AM, FormerReader said:

Shadroch, thank you for the advice. This may be a dumb question, but is it safe to pay using a personal check. I guess I’ve always felt comfortable with a credit card or PayPal as you have recourse where you don’t with a check.  I don’t know what I need to worry about with an auction house, but I just want to make sure I ask others who have more experience here.

I may be overthinking this. 

Agree with Shadroch - 

If I'm buying off a stranger, a prefer to have the protection of a credit card company or PayPal.  

But the big auction houses are established and trustworthy.  I wouldn't have an issue mailing them a check. 

[Vixom]

Auction wins that the books are in house no problem. If you buy a consignment book buy it now and you are happy with the price then just be prepared to wait for your money. When a book goes up the books owner will usually want to sell it for the new price. The old I have no idea where I placed my $50,000 book. 

[FormerReader]

Thanks guys I appreciate the advice. This is new territory for me so figured I would ask the experts.

[gumption]

If you can’t go with a Paper check or echeck, and a wire transfer is your next option, consider using Wise online… their bank transfer fee is typically cheaper than what a normal bank would charge.
I used Wise for a bank transfer to a dealer in the UK for a couple of golden age books. Wise charged me $15 IIRC versus $35 which is my bank’s fee.

[MattTheDuck]

I would just add that I've faced this at Comiclink, although I have yet to spend 5 figures on a book there.  They charge extra if you use a credit card, so I've been sending a check to save that money.  No problems.

[FormerReader]

Thank you everyone for all the good advice! I really appreciate the help.