Does "ON HOLD" & "PENDING SALE" mean "SOLD" 99% of the time? ? 0

[Peter G]

When a dealer lists a piece on their website as ON HOLD, does that mean it probably sold ? How common is it for an item to go back up ?

For example : Status ON HOLD - http://www.romitaman.com/GalleryPiece.asp?Piece=21380&ArtistId=947

I remember this cover was recently  listed for $400,000, and now its NOT available as its "ON HOLD" - so was this piece a SALE  ?

Also, Comic Link frequently lists item as PENDING SALE 

Is it common for monies on such big sales to be so tentative ?

I cant imagine a dealer agreeing to take merchandise off their website unless a potential buyer puts down a significant deposit of earnest money.

 

[vodou]

Depends on the cart system 'rules'. I believe both Romitaman and ComicLink operate under any form checkout completion and submission resulting in the automated update on the site to "on hold" or "pending sale" respectively. Whether payment follows through or not is another matter, a manual adjustment matter. Meanwhile at FelixComicArt, you can do the same thing (form completion and submission) and the status doesn't change until Felix updates it. Not sure how that works as he's behind the scenes for that (not me!) but it's definitely not an auto status update at form submission.

[Madman1138]

A lot of the time when taking time payments, a dealer or seller will mark it as "sale pending" or "on hold." That usually will mean sold eventually, in my experience, but is pending until paid off. From what I have seen and noticed, sale pending means payments have started and on hold means someone has agreed to it but no money has changed hands yet. But as with anything, people have different interpretations of the same thing. So it's hard to say for sure, but I know from my buying from Romitaman with payments myself that it was changed to "sale pending" on his site while I paid it off.

[Peter G]

On 4/20/2018 at 10:21 AM, vodou said:

Depends on the cart system 'rules'. I believe both Romitaman and ComicLink operate under any form checkout completion and submission resulting in the automated update on the site to "on hold" or "pending sale" respectively. Whether payment follows through or not is another matter, a manual adjustment matter. Meanwhile at FelixComicArt, you can do the same thing (form completion and submission) and the status doesn't change until Felix updates it. Not sure how that works as he's behind the scenes for that (not me!) but it's definitely not an auto status update at form submission.

Yes, good point. The automated shopping cart may be reason for some of the status change. Still, one would think that a dealer would be incentivized to put back merchandise online in those instances where the potential buyer is a faker.

On 4/20/2018 at 7:29 PM, Madman1138 said:

A lot of the time when taking time payments, a dealer or seller will mark it as "sale pending" or "on hold." That usually will mean sold eventually, in my experience, but is pending until paid off. From what I have seen and noticed, sale pending means payments have started and on hold means someone has agreed to it but no money has changed hands yet. But as with anything, people have different interpretations of the same thing. So it's hard to say for sure, but I know from my buying from Romitaman with payments myself that it was changed to "sale pending" on his site while I paid it off.

It just never makes sense to me that a big ticket item like $400,000 for the Spider-Man 59 cover for example is “ON HOLD” or that an item on Comiclink website is listed as “PENDING SALE” status for a very long long long time. 

Yes time payments & automated shopping carts account for some of this interim action before a final sale may occur but still some of this action just seems odd to me.