Every now and then I get the inclination to start a little limited dealing venture, I spend some time investigating whether it's a good idea at the time (inevitably the answer is either no or not quite). This time when I was looking into Heritage purchases as a dealer, I found out that you can pay with a credit card up to $2,500 and anything over that can be paid on a payment plan - but only for non-dealers, it seems dealers must pay with check/echeck/wire transfer for all purchases regardless of amount. Some auction houses don't allow cc purchases at all, while some like Stacks and Goldberg still allow dealers to pay with a cc for amounts under $2,500 or $5,000. Have I misunderstood Heritage's terms somehow, and if not, how do dealers usually handle purchases from Heritage? Business loans and bank credit lines, or does everyone always have enough cash on-hand for these purchases?
I am a small fish in a big pond, with my biggest auction purchase around the 15K mark but I always pay by check.
