Hunt Auctions Article of interest

[JLange]

I saw this article in today's Delaware County Times (PA). It mentions that items stolen by a housekeeper were from the Amos Strunk Baseball Collection, and were subsequently auctioned by Hunt Auctions in July 2008. I'm not posting to jump all other yet another auction house, and I do not feel that Hunt Auctions did anything wrong. I thought it more important a topic to understand what happens to the bidders in this (ie, do they need to return said items, will they be compensated, etc.) and what liability or indemnity exists for the auction house. Interested in board opinions.

http://www.delcotimes.com/articles/2009/08/19/news/doc4a8b64fcf10b5046181876.txt

[Rich Klein]

1) I think this specific story has run before. I remember this story. Having said that, it does bring up an interesting point; which is what is the role of the auction house in collecting material. If the auction house does due dilligence and this happens; what is any responsibility do they have both legally and morally.

2) This is the 2nd time in a couple of months that Hunt Auctions has found out after the fact that merchandise may not have been salable. Last month, if you recall, they had the material pulled that some believe may have been taken from various libraries. Now this, I suppose this is a normal part of doing business in old collectibles like this.

3) And yet; you can't say that Hunt Auctions did anything wrong on either occassion. Sometimes; bad things happen to good auction houses.

Rich

[Leon]

As I said in our emails I think it's a good topic to talk about but I don't think Hunt did anything wrong, if they were unknowing. I think it's when auction companies are complicit, or let things go that they shouldn't, that the waters get murky.