COYS AUCTIONEERS - Has anyone been paid yet??

[TheSpiderMan]

I had a car in the auction at the autosport show back on on 15th January. The car sold but as yet I haven't been apid by Coys, but have been given the usual excuse of the cheque being "in the post". Has anyone out there been paid yet??

[terence]

They have been known to take thier time in paying up in the past
A face to face visit perhaps?

[simon drabble]

as Terry said they sadly have form in this department. I found a face to face worked when I sold my E Type through them admittedly a few years ago now....

[John Turner]

I always get a tad edgy with these sorts of threads, so please keep any posts, as they have been so far, factual.

[Colin Parkinson]

I also had a car sold in the same auction, and I also have not been paid. I was told the cheque was in the post last week. Still no sign!

[Tim Falce]

Uncle Eric sold a car via them a few years ago and he waited a month or two for his money, you have to keep reminding them as their accounts department workers seem have the memory span of a 6 month old puppy dog.

[Nick JM]

I would be interested in seeing their terms and conditions as between them and the vendor. Does anyone have any they could pm to me?

[john ruston]

Martin Emmison is the man who knows this subject.
One of the best Historic Car lawyers.

The Accounts Dept only pay in any organisation when instructed by their management!

[TheSpiderMan]

I will be factual, and avoid any suposition. As an accountant I'm used to dealing with both facts and Terms and Conditions.
I have a copy of their Terms and Conditions from when I entered my car and paid my fees. They have taken longer to pay than the T&C state. I have been in touch with Colin Parkinson who has also posted here and not been paid. We have both been in touch with Coys by phone today. I spoke with Coys very firmly and I have been told my cheque is in the post today.
Their service, up to paying me, has been very good.

[terence]

Let's hope there is no post strike then.

[ensign14]

A cheque? 1918 called, it's got this new-fangled thing called the electronic transfer.

[exnigel]

Sticking to facts. in 2004 Coys of Kensington (sales) limited was placed into creditors voluntary winding up. The following articles may be of interest. I believe that following this event the remaining Coys auction company set up escrow accounts for the proceeds of auctions to satisfy clients selling cars that the same problems would not arise again. As has been said before Terms and Conditions are the key.

http://tentenths.com/forum/showthread.php?t=49133

http://www.ferrariownersclub.co.uk/h.../coys/text.asp

http://www.telegraph.co.uk/finance/2...quidators.html

[Colin Parkinson]

Well after putting some more pressure on Coys, I have received a cheque today for the sale of my MGA. That is day 41, so will not clear until day 47.
Unfortunately it is incorrectly calculated! At this time, I will give them the benefit of the doubt, and call it an admin error!!

[TheSpiderMan]

Like Colin, after phone calls and pressure my cheque has also arrived. Mine is for the correct amount and is being banked today. I'll update the thread when it clears, and with my final comments.
One thing I will say. When I spoke to Coys on the phone on Thursday 24th Feb I was told the amount on the cheque, and it was incorrect. They assured me they would write out a new cheque for the correct amount and send it out that day. They have done exactly what they said, and it arrived Friday by special delivery. My only query with this is the cheque was written on 24th Feb, so how come it is dated 18th Feb?

[RTH]

Well this saga has certainly put me off.

[john ruston]

Seems to be a lot of this human error stuff.

Good thing H&H,R&M,Bonhams do job properly.

[UKBentleyGirl]

Still waiting, after 10+ calls. Last week they told us the cheque was cut on Friday, February 18, and to call if not received by the next Thursday. Still no cheque. Today, they claim "no directors in the office today" as the excuse not to cancel and re-cut the cheque...glad to read about the escrow accounts...

[john ruston]

You sellers are all brave people!

[UKBentleyGirl]

Called again. "No directors in the office to sign the cheque yesterday or today, really sorry". Maybe tomorrow, with assurances of best efforts from sales... We have requested a same day delivery. Will keep you posted. Thanks for offers of support Fingers crossed (lessons learned later).

[morninggents]

Get a solicitor on to them and pass on solicitor's cost to Coys through small claims court.

[terence]

Why bother with solicitors fee's when you can diy on line for £108.00,been there-done it etc.

[skentellytubby]

http://www.hmcourts-service.gov.uk/i...aims/index.htm

http://www.hmcourts-service.gov.uk/o...mcol/index.htm

Like Terry, I've done it. Dead easy, not much to lose.

[Nick JM]

Originally Posted by terence bower

Why bother with solicitors fee's when you can diy on line for £108.00,been there-done it etc.

slight correction chaps and sorry if this is boring/the moment has gone but:

1. you cannot recover costs in the small claims court
2. small claims is really only for claims of £5k or less
3. better to issue in the High Court as you can make an application to recover costs and the enforcement process is less forgiving than the county/small claims court

I do not know the sums you are talking but given the increase in historic race car prices you will probably only bother with the small claims to recover the loss of interest from Coys and the seller's comission!

[UKBentleyGirl]

Cheque arrived today. Less than expected but still scrutinising the detail was to why. T&C was 35 days after auction, today is day 47. Post gets lost, mistakes happen, OK, but the response time to correct was very disappointing to say the least. Will update more after it clears and detail understood.

[simon drabble]

in order to retain a balanced argument Spiderman should confirm whether his cheque has cleared as it has been a few days now since he recieved it....
If it has then we should merely assume tardy accounting.