AMI payments

[jonincleve]

Re: AMI payments

i think the person who consigned the item would have to file a police report listing the item as stolen first. without the police report nothing can happen.

howard, nice photo. i think they would do everything they can to make it to the national to get new consignments for one final hoorah

take care
john

[kingjammy24]

Re: AMI payments

AMI ad - may 2009 - "No one pays faster than AMI"

victor - may 2009: "We are aware that there has been a delay of payments..."

"Our intention is to continue the excellent business practices we have enjoyed for over 13 years and we have devised a plan to do just this."

is it as good as the plan which has netted them 52 complaints in only 36 months? excellent business practices! excellent with a capital F:




anyway, AMI's plan is unbelievable in its premises and assumptions. if this is the sort of stuff rolling around in victor's head, it's not hard to see why the business is failing.

dave grob nailed most of it; the pertinent conclusion, imo, being "AMI is leveraging a current consignment fee to pay a past debt, when now more of the burden for getting the item consignment ready falls on the collector; A collector who is both owed money and now doing the bulk of the work. In essence, collectors are being charged for the time they are now spending to sell their own item. Since the money they were rightfully entitled to is now being seen by AMI as credit against their account, why would a collector do more work that only results in eliminating a debt that is not his to begin?".

basically, AMI's plan to pay back its consigners is to have them work it back. you do the work and the amount that AMI normally charges to do this work themselves will get deducted from your account. AMI is essentially saying they will pay back their consigners if the consigners do all of the work for free; (i say "free" because i don't consider having old debts paid to be payment for new work being done. imagine if you mowed a guys lawn, he didn't pay you, and he said "mow my lawn again and i'll pay you what i owe you on the last job and that'll square us up".) victor's ingenius plan seems like little more than a ponzi-esque debt repayment plan. he's not going to do any work, he'll have you do all the work, he'll charge for the work you've just done and that amount will pay off your old debt. fine but then who'll pay you for your work? noone will. you've worked for free just to get your old debt repaid. unreal. i'd like to speak with the consigners who victor has said "all feel that the solution is sound.."

dave also adds:

"1. How long can AMI keep this up with zero cash flow on consigned items from these collectors?

2. What is the impact on the collector who is owed $25k? In this case, if this the only way they will get paid out, this collector will have to consign items that bring final bids of $70,000. ($25K x 3.5 – 20%) These final bids at $70,000 will result in a net payout of $87,500 required to meet both current obligations and service the previous debt.

What is not factored in to all of this is how much this costs the collector in having his money tied up at a zero % return over the time he is helping finance the AMI debt. While it is true he is making more on each sale than in years past, the end result is he is only getting the monies he is actually owed over a much longer period of time."

if the consignor is responsible for the authentication do those monies come out of the consignor's pocket as well? so on a $1000 sale, the collector supposedly gets $350 of his debt repaid but how much of that $350 is eaten by authentication fees? you're getting miniscule amounts of your debt repaid in exchange for continuing to patronize AMI and enduring all of the stress that that entails. of course, if AMI owes you thousands, then you're either required to consign hundreds of thousands of dollars worth of material in the future or wait an incredibly long time. the only party this plan works for is victor. it enables him to get out of debt by having collectors do his work for him. participating in this scheme sounds even more foolish than consigning with AMI to start with.

"As I see it, your only hope is that AMI can attract new consigners or retain those they have and don’t owe money to in sufficient numbers to get you paid out."

yeah..good luck with that AMI consignors.

anyway, i've come up with a much simpler plan:

1) don't consign to AMI
2) see step 1.

victor is trying to negotiate with creditors/consignors and offering ludicrous terms. if consignors want the monies that are rightfully owed to them, i encourage them to forget victor's latest hare-brained scheme and contact a good lawyer.

rudy.

[MSpecht]

Re: AMI payments

"victor is trying to negotiate with creditors/consignors and offering ludicrous terms."
---Rudy


Hey Rudy-- I thought that was alrready copywrited ??

[DirtShoot]

Re: AMI payments

I have consigned with AMI in the past... Like most businesses in this downturn they are not immune and neither is my own business (I too owe some debts).

I like the new payment system to get all payed off. Basically if your owed past monies they can set you up as an "Authorized Dealer". Your items in thier auction are paid directly too you (you need free paypal account) by the bidder. Your items are payed immediatly and ALL fees (the buyers premium and consignor fees are applied to any past due amounts)

They work hard to please thier customers. At least they don't run with questionable items I have seen them turn down and showed up in another auction.

[admin_old]

Re: AMI payments

I have consigned with AMI in the past... Like most businesses in this downturn they are not immune and neither is my own business (I too owe some debts).

I like the new payment system to get all payed off. Basically if your owed past monies they can set you up as an "Authorized Dealer". Your items in thier auction are paid directly too you (you need free paypal account) by the bidder. Your items are payed immediatly and ALL fees (the buyers premium and consignor fees are applied to any past due amounts)

They work hard to please thier customers. At least they don't run with questionable items I have seen them turn down and showed up in another auction.

Hello DirtShoot,

As per the forum rules, you will need to register with a vaild first and last name for your post to remain.

[hblakewolf]

Re: AMI payments

Hello DirtShoot,

As per the forum rules, you will need to register with a vaild first and last name for your post to remain.

Why do I have a feeling the name that will be registered is James Rath?

Welcome back, James!

Howard Wolf
hblakewolf@comcast.net

[DirtShoot]

Re: AMI payments

Hello DirtShoot,

As per the forum rules, you will need to register with a vaild first and last name for your post to remain.

OK update my profile....
Sorry...

[33bird]

Re: AMI payments

Wow-a homer for AMI. Who would have guessed?

[sportscentury]

Re: AMI payments

Outstanding. We haven't had a genuine AMI shill in a while. This should get good fast.

.

[both-teams-played-hard]

Re: AMI payments

Outstanding. We haven't had a genuine AMI shill in a while. This should get good fast.

.

Reid, you are officially challenged to a popcorn gif contest!

[sportscentury]

Re: AMI payments

Reid, you are officially challenged to a popcorn gif contest!

Warren, I officially decline! I could not even begin to match your graphics and electronic art!

[hblakewolf]

Re: AMI payments

...and the "positive press" continues!!!!

http://www.gameworn.net/cgi-bin/GW/ultimatebb.cgi?ubb=get_topic;f=2;t=008627

Howard Wolf
hblakewolf@comcast.net

[mvandor]

Re: AMI payments

OK update my profile....
Sorry...

There really MUST be an IP check on this one, it MUST match a prior AMI GUU account or 55 years of studying human nature has gone to waste!

[sportscentury]

Re: AMI payments

There really MUST be an IP check on this one, it MUST match a prior AMI GUU account or 55 years of studying human nature has gone to waste!

Eric used to catch these frauds on a weekly basis (not just the AMI clowns like Rast, Rocco, and the rest of the braintrust, but the genius from Steiner who registered as Jay Z [classic!] and only posted to promote Steiner, Ken Golem and his 40 different GUU userids which were all somewhat similar, etc.). But I think Eric is busy with other activities these days. Keeping up with the nonsense on here is a full-time job.

[Eric]

Re: AMI payments

Oh, I looked up the IP all right and I emailed the user... waiting to hear back. Very interesting...
Eric