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<p>[QUOTE="AncientJoe, post: 2457905, member: 44357"]I'm in the same scenario with the same auction house with an invoice with a couple more zeros on it. I've pushed back: it's clear that they're doing this just because of the Brexit. The change to Euro from GBP is arbitrary and purely seeking profit from their side. The auction was held in GBP and they have a UK address and company name - if the pound had gone up in value, making us US buyers pay more, they undoubtedly would never have changed the invoice to Euro.</p><p><br /></p><p>As mentioned, the risk is always on the side of the buyer: normally, an auction house can't choose after the fact to change the currency in which the sale occurred to suit them <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" /></p><p><br /></p><p>That said, they've actually changed the terms and conditions on their website to say that they CAN do this, but I have screenshots of them as they originally were. Ex post facto doesn't exactly apply to auction houses like this!</p><p><br /></p><p>I've been hit by exchange rate changes many, many times. Sometimes it works in my favor; sometimes it really doesn't (especially with the volatility in the CHF and EUR in the last couple years).</p><p><br /></p><p>What they're doing is definitely unfair to the collector. Interestingly, I had a dealer representing me on one lot in the same sale, and they were also buying coins for stock. I'll soon be able to see if they're treated the same way - I spoke with another dealer who literally laughed out loud at the circumstances, saying, no, that's not how it works.</p><p><br /></p><p>So, I suggest fighting it. I'm not as concerned with the dollar value as I am with the precedent (although I don't foresee others changing invoices to whatever currency suits them). This auction house is known for playing games, so I shouldn't really be surprised.</p><p><br /></p><p>I sent them a lengthy email two days ago after receiving my invoice and haven't heard back. If they don't agree, they will certainly have lost me as a customer.[/QUOTE]</p><p><br /></p>
[QUOTE="AncientJoe, post: 2457905, member: 44357"]I'm in the same scenario with the same auction house with an invoice with a couple more zeros on it. I've pushed back: it's clear that they're doing this just because of the Brexit. The change to Euro from GBP is arbitrary and purely seeking profit from their side. The auction was held in GBP and they have a UK address and company name - if the pound had gone up in value, making us US buyers pay more, they undoubtedly would never have changed the invoice to Euro. As mentioned, the risk is always on the side of the buyer: normally, an auction house can't choose after the fact to change the currency in which the sale occurred to suit them :-) That said, they've actually changed the terms and conditions on their website to say that they CAN do this, but I have screenshots of them as they originally were. Ex post facto doesn't exactly apply to auction houses like this! I've been hit by exchange rate changes many, many times. Sometimes it works in my favor; sometimes it really doesn't (especially with the volatility in the CHF and EUR in the last couple years). What they're doing is definitely unfair to the collector. Interestingly, I had a dealer representing me on one lot in the same sale, and they were also buying coins for stock. I'll soon be able to see if they're treated the same way - I spoke with another dealer who literally laughed out loud at the circumstances, saying, no, that's not how it works. So, I suggest fighting it. I'm not as concerned with the dollar value as I am with the precedent (although I don't foresee others changing invoices to whatever currency suits them). This auction house is known for playing games, so I shouldn't really be surprised. I sent them a lengthy email two days ago after receiving my invoice and haven't heard back. If they don't agree, they will certainly have lost me as a customer.[/QUOTE]
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