Need help regarding a sale at a auction house in the US

**stuka f** · 05-17-2017, 07:21 AM

hello all,

what does it means when the auction house asks;

If you wouldn't mind verifying your mailing address; I want to make sure we have the correct address to send the auction proceeds. (We could also wire the funds to you, if you prefer.) Payment is sent out thirty days after the auction.

I don't get the part; " I want to make sure we have the correct address to send the auction proceeds"....
Do they send the money one way or a other ???
Isn't ; bank wire the best option?

**bananamafia** · 05-17-2017, 01:37 PM

Think they send you a cheque/bank draft.
Id go for the wired option too.

**MAP** · 05-17-2017, 02:05 PM

Me to...but wires usually have a flat fee so that would eat into your profits. I know at my bank, the charge $15 or so for wire fees....

**stuka f** · 05-17-2017, 05:12 PM

Thanks guy's!
Check fee's over here are quiet something too!
I understood now! Bankwire it will be.
Thanks again.

**Chopperman** · 05-19-2017, 01:47 PM

A couple years ago I tried to a wire transfer from my bank to Germany.
They had no idea how to even do it. Once they figured it out, the fee was $50.

**rbminis** · 05-20-2017, 05:55 AM

by Chopperman

A couple years ago I tried to a wire transfer from my bank to Germany.
They had no idea how to even do it. Once they figured it out, the fee was $50.

I used a wire transfer once to Europe, never again if I can avoid it. Too expensive!

Ralph.

**stuka f** · 05-20-2017, 07:09 AM

Eighter wich way the funds come, it will cost me...
If it isjust 50 $ or euro, I can live with that.
A few years ago I had the same probleme with funds that had to come from a French auction house.
France is also a country that is not used to bank transferts, mostly they pay with cheques.
But I managed to reduce the cost from 200 to something like 50 euro too...
That is worth to seek the best way to get the funds, it seems to me!