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Updated: 7:37 PM Sep 1, 2008
Auction Cash Delayed
Account finally settled A model train collection might be worth more than you think. The auction of one man's hobby brought in thousands of dollars but securing the payments was another matter. Posted: 5:22 PM Sep 1, 2008 |
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A model train collection might be worth more than you think. The auction of one man's hobby brought in thousands of dollars but securing the payments was another matter.
Model trains weren't just a hobby for Pam Johnson's father who passed away earlier this year.
Pam says, "His passion was his trains -- the building and recreating of historical trains."
Pam contracted with Bunach Auctioneers when it came time to sell but after the auction of the collection for $9,000, there was a problem. Pam says for weeks after the contracted payment date she got excuses instead of proceeds and finally, when a check did come in the mail, she called the auctioneer's bank. The check didn't clear.
Six on Your Side contacted Bunach Auctioneers and Pam got her money.
Pam tells us she said, "Please call off the dogs because the money is in the bank."
Longtime auctioneer Tom Rine says many states license auctioneers Nebraska does not.
"Anyone can do it," Rine said. "If you can say one dollar, two dollar, you can be an auctioneer."
Though Omaha requires a $1,000 bond, Nebraska auctioneers have an association that self-polices disputes.
Tom Rine says state licensing would raise the stakes.
He says, "Everything would have to be deposited into escrow accounts. There wouldn't be any money mixing and there wouldn't be this problem."
Though the auction proceeds arrived late Pam Johnson says she can now settle her father's estate.
"I'm very relieved," she said. "A lot of stress is off my shoulders right now."
Although Bunach Auctioneers left Channel 6 a message that the money to cover the check was in the bank, they did not return our calls about why it took so long.
The Nebraska Auctioneers Association also declined comment except to say the dispute has been resolved.







