Dealers Checking Your Dealer References

[gmarguli]

I'm just curious, how often dealers/auction houses actually check references?

 

I just registered with a major auction company today. They requested some dealer references (in lieu of placing a deposit of X%) as most major auction houses do. Frequently the company will also request some financial information (bank account, employment, etc). I never give the financial information, but I did list two dealers I've done a fair amount of business with. I got an email confirmation fairly quickly and I assume they granted the credit line amount I requested. I really doubt they called to check my references.

 

I can only recall once when a reference told me that someone called to check and that was when NGC called my references when setting up my dealer account. Thankfully my references were quick thinking and were able to lie about what a great person I am.

 

Does anyone know how often companies actually check references?

[michael]

more often than you think

 

it is an old boys network

[jom]

I don't ever remember anyone telling me afterwards whether a reference was called. I've been through the process several times with Heritage (why more than once I don't know) and a couple of the other auction houses. The only time I've had a referral check was at shows where a dealer didn't want to take my check so I walked them over to a dealer than knew me.

 

Thankfully my references were quick thinking and were able to lie about what a great person I am.

 

You're welcome.

 

jom

[jtryka]

I've had the same experience as Jom, just having a dealer vouch for me at a show when I paid for a coin with a check. I've never provided any references for Heritage as I just use my visa card to pay for my purchases.

[Hoot]

Thankfully my references were quick thinking and were able to lie about what a great person I am.

 

 

I've never known. I've been asked with an intervening pause in business of a day, so I can only assume they did.

 

I've also never had a dealer turn away a check or even ask for ID at a show - Even when I only had a guest pass.

 

Hoot

[James_OldeTowne]

I can think of only a couple of instances where my references were checked out - and that was early on in my elusive quest for vest-pocket status. I have checked references a couple of times, but since becoming one of "da boys", at least in my local area, nobody's given a second thought to taking my checks.

 

Maybe it really is a small fraternity.

 

James

[wayneherndon]

more often than you think

 

Correct. I regularly check reference and frequently get calls when someone gives me as a reference.

 

WH