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My name appears on the list of "shill bidders" on one transaction where my friend, Ron Goldberg, was the consignor. I don't view myself as a shill bidder, nor do I believe Ron did anything inappropriate. I have no doubt that some of you will disagree, and candidly I have shared this with a few people I respect a lot and they come out different ways. In any event, these are the facts.
In 2007, Ron had a valuable but relatively low demand oddball set (one of the Red Men sets). At some point he was talking to Doug and Doug asked if he would consider consigning the set. Ron said that he would but that because it was an oddball set, he was reluctant to do so unless a reserve could be placed on the auction, particularly since one of Ron's lots had sold well below his expectations in a previous auction. Doug said that he would not place a formal reserve, but instructed Ron that he could achieve the same result if he had a friend bid the reserve amount. Doug insisted, however, that if the friend won the auction, Ron would have to pay the buyer's premium. Ron then asked me if I would let him bid using my ID. After thinking it over, I agreed. My thinking at the time was that Ron was not going to consign the set anyhow without a de facto reserve (so that there really was no scenario of a no reserve auction where someone could have won the set for a pittance), and that because Ron was going to have to pay the buyer's premium if the bid from my account won, the result would be the same as if I paid for the set and then flipped it back to Ron. As it turned out, Ron's fear was correct and the bid from my account was high bid, even though Ron had hoped the set might go much higher and in fact sold it for 20k more eventually. So he paid the premium and the set was returned to him. It worked out exactly the same as if there had been a reserve, or higher opening bid. No victim. Nobody "run up." To be clear, Ron had no idea who else had bid or whether they had placed a top all. I am pretty sure, by the way, that many of the lots identified by the government as allegedly involving shill bidding (including multiple lots consigned by other Net 54 board members whose names have not been mentioned yet) are of the same character. Some, on the other hand, doubtless are lots where Mastro and Allen knew the top alls and bid them up themselves, or told the consignor. I understand there are different ways to view the transaction. We have, in fact, debated this issue before at least in the abstract. I understand the other side, and have no doubt many of you folks will vilify Ron and me. So be it. I have nothing to hide. And apologies for the delay in posting, but I needed to verify the facts with the consignor. If you are going to vilify Ron, by the way, please be sure to include the other board members identified as consignors on multiple lots, it would be very unfair to single him out. Last edited by Peter_Spaeth; 02-03-2016 at 06:56 PM. Reason: clarity |
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Yes, and after discussing this with some people I respect, I do see the gray area.
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List
well peter admits to being a shill...how nice
so he believes theres nothing wrong with making the public believe the value of that item is what he bid when in fact there was no one willing to actually pay that price...ie the most anyone person was willing to pay lets says is 1800 and he puts in 2000...but the 1800 bidder actually would have won the lot for 1200 as the 3rd bidders hi bid was only 1100...and he doesnt see anything wrong with that....if your consignor friend ron wants at least x dollars then he should consign it to an AH that will start the bidding at x dollars...this is nothing more than artificially upping the perceived value in the eyes of the public...but theres nothing wrong with that....hmmmmm |
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This list just shows 2007-2008. Can you imagine what the list would look like if it included all the years that Mastro was in business? You know that it doesn't end with Mastro. I am sure that this is still going on within many AH's today. I am not saying that the AH are involved but there must be shilling done by individuals that have a connection with the consignor.
I have won 21 items from Mastro between 2005-2009 for a total of $34,000. The list shows that I was shilled only once in 2007 on a lot of 38 Colgan Chips. It makes me wonder how many other times they shilled me. |
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By the way when is someone going to post a picture with a bunch of people holding pitchforks with something funny stated on it.....you net54 guys are good at that stuff Last edited by 1952boyntoncollector; 01-28-2016 at 04:45 PM. |
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The fact is there was never any intention to purchase the lot.
My opinion is that this was not the first time this occurred. What I ask is to stop the BS gray area talk, no excuses, the same conversation I have with my kids and myself, daily. No pitchfork just advice. Jeff D'Errico |
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Procedural query
How was it determined shill bidding occurred on all these lots? Many of them are obvious, such as the ones listed as the shiller being the auction house or an employee, and ones from consigners with multiple lots, each having the same shilling bidder, but how about the other one-offs? Are there records of 'shill agreements' that wasn't obvious in this document? Being a non-lawyer, I refused to read the whole document.
Brian Last edited by brianp-beme; 01-28-2016 at 05:19 PM. |
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Peter
Peter, the only reason that no one was "run up" is because it happened that there were no bidders. If there had been bidders, you would have run them up.
__________________
Rick McQuillan T213-2 139 down 46 to go. |
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Can't make this stuff up...
...you gotta love this dirty hobby.
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As I thought of it, if Ron had not consigned the set at all, or if there had been a reserve or an opening bid at the reserve level, nobody could have won it for less than one bid above mine anyhow. So your hypothetical is not real, as I see it. But as I said, I do understand there are other ways to look at it.
Last edited by Peter_Spaeth; 01-28-2016 at 04:28 PM. |
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Here's my take: If there had been, say, a $2,000 reserve on the lot, and the highest bidder bid $1,500, everyone would see that the set did not meet the reserve. This could be attributed to either the reserve being set too high, or there just being low interest in the set at that particular time. As it happened, a "shill bid" was placed for $2,000, to match the "unstated" reserve. This led people to believe the set had sold at that price. This is the lie, that the set sold, when it actually did not; and this is where, in my opinion, the main problem lies. It results in false price information being released to the public, and a false value being placed on the item. The set may later exceed the value that was falsely reported at that time, but there is really no way of knowing what effect the false info had, even if there are years between the auction in question, and the actual later sale. The safest and best way to proceed is to set a reserve (if desired), and let the bidding determine if the reserve is realistic (at that particular moment in time). Then at least, if the item does not sell, the public has accurate information to use, in later placing a value on it. Steve
__________________
Successful BST deals with eliotdeutsch, gonzo, jimivintage, Leon, lharris3600, markf31, Mrc32, sb1, seablaster, shammus, veloce. Current Wantlist: 1909 Obak Howard (Los Angeles) (no frame on back) 1910 E90-2 Gibson, Hyatt, Maddox |
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Last edited by Peter_Spaeth; 01-28-2016 at 08:06 PM. |
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Random Thoughs
Peter Nash must be smiling, rubbing his hands and getting his next column ready
Did anyone notice in the 2002 auction Rob Lifson's name was posted. Now I know that things have evolved since then but that was fascinating. I repeat something I was thinking after Rob's Friday night announcement in his blog about retiring. I just found it strange a story broke on a Friday night. Usually in politics, if you want to bury a story, release the news on Friday Night. If it's good news, release the story on Monday Morning about 9 AM TJ Schwartz's name is posted as well as well -- he writes a column for SCD called on your side. HMMM Peter Calderon (now at Heritage) is also listed as a shill bidder. These are just some of the quick highlights as I don't have the eyes to read through every name.
__________________
Look for our show listings in the Net 54 Calendar section |
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Last edited by ullmandds; 01-28-2016 at 09:13 PM. |
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Point taken Peter; and that is where Doug Allen's feet need to be held to the fire. At least in your case, Doug appears to be the one spearheading the illicit activities. It, perhaps, does not fully eliminate the consigner's or your culpability, but it would serve to mitigate it. Steve
__________________
Successful BST deals with eliotdeutsch, gonzo, jimivintage, Leon, lharris3600, markf31, Mrc32, sb1, seablaster, shammus, veloce. Current Wantlist: 1909 Obak Howard (Los Angeles) (no frame on back) 1910 E90-2 Gibson, Hyatt, Maddox |
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If ANY auction house offers this type of shady practice, it should have been a big red flag and clearly was not worth the respect people were giving it. Just because a person or auction house compels someone to do something illegal/unethical, doesn't mean they have to do it. Parsing it for people sitting in judgement now is a cop out. It was wrong then - that's the point. |
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CU Thread...Poof. Not sure why. Disappointing.
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Gone...
....in two shakes of a lamb's tail
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nah was more than 5 nanoseconds
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There is no gray area...you attempted to help a friend at the expense of others. Own it and move on.
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You are certainly entitled to your opinion, and I have owned it, unlike anyone else so far who is on that list. I disagree with your opinion, as I see it this was not at anyone else's expense, please see my response to Rick.
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yeah I agree he has owned it...it over now...we can take the pitchforks to the other villages now. (the other guys on the list)....there may be frankenstein out there to grab but peter would barely be a reprint of part of a shoelace on Frankenstein,, if that..
Last edited by 1952boyntoncollector; 01-28-2016 at 04:37 PM. |
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Yea I'm not seeing any gray area. Should just admit you made a mistake and move on. Everyone does something they regret once in a while.
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My son's mother What the hell was I thinking
__________________
429/524 Off of the monster 81% 49/76 HOF's 64% 18/20 Overlooked by Cooperstown 90% 22/39 Unique Backs 56% 80/86 Minors 93% 25/48 Southern Leaguers 52% 6/10 Billy Sullivan back run 60% 237PSA / 94 SGC / 98 RAW Excel spreadsheets only $5 T3, T201, T202, T204, T205, T206, T207, 1914 CJ, 1915 CJ, Topps 1952-1979, and more!!!! Checklists sold (20) T205 8/208 3.8% |
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Per forum rules, your name please
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For the moment I am not saying anything except that your full name, and everyone posting in this thread who makes any comment per the rules, needs to put their name in their post (if not easily found by your sig line etc)....per the rule in bold letters at the top of every page. It's not that important though. If anyone doesn't want their full name in their post then they can edit their comments out. Otherwise I will be putting names in posts per the rules at my leisure .......thanks to all
__________________
Leon Luckey |
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I'm not a big baller in the card world, but I do follow the story. Peter, I disagree 100% of what you did. But you did step up and tell your story. I do applaud your for that. Thanks. |
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Have been looking over the information in this document a lot through the day and while I was not directly affected by this I have a lot of thoughts I want to express.
1. Peter, seeing your name appear as a shill bidder was disappointing to me as I genuinely appreciate the knowledge, experience, and opinions you contribute to this community. However, I thank you for being willing to acknowledge your actions and face fallout from them. I respect you for doing that even if I think your actions were wrong. There are others that have much more to answer for but so far remain silent. 2.This is only a tiny portion of the fraud. 2 years worth of auctions by only one AH and this is only the transactions that someone with direct knowledge squealed on or confessed to having direct knowledge of the conspiracy. We know about Peter's because of conversations between the consignor and Maestro. How many agreements like that might have been reached that the AH didn't know about. I don't have to tell the AH that I am going to have a proxy place a protection bid on my consignment to keep from losing it at too low a price. 3. If a name appears as a shill bidder you placed a shill bid or one was placed under your name. The only way your name appears in that column was if there is direct evidence or testimony that the bid in question was part of the conspiracy. Some of the theories that some in that list may not be directly involved is in my opinion likely just wishful thinking. 4. The AH has an incentive to shill if there is a high max bid so it is possible for a consignor to have his lots shill bid without his involvement. However, when I see a board member appear as a consignor for 30 lots in this list and the names of the shill bidders only appears on their lots then I can make a pretty safe inference they were a willing participant in the fraud. If there is some other explanation for that JC Clarke I welcome you to offer it. 5. The occurrences I mention in 4 are present for Ken Goldin as well. So, there is a strong likelihood that he was involved in arranging shill bidding of several consignments to Maestro. If he is willing to participate in such actions in other auctions why should I have any confidence that he doesn't allow or even facilitate it in the auctions his AH runs? I hope Leon is already considering whether Goldin Auctions should continue to be allowed to advertise on this forum. I know I am unlikely to ever bid in one of their auctions. I know I am just a bottom level collector and I don't have a spit's worth of significance in the collecting world but even a novice nobody like me can see that there are a whole lot more people than just the ones on this list that have dirt on their hands.
__________________
Personal Collection Magic Number: 29 Collecting Hall of Famers and players with Nebraska connections. |
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I'm going to unsubscribe to Goldin Auctions Do I have to start a thread to ban myself? |
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again i understand no one got hurt this time..but sometimes bad things are done many times but only one time they get caught for it....though you always hear it on 'to catch a predator' it was their first time they ever did this... I don't think you are part of the hobby problem at all..i think personally you are a great asset for the hobby and i am sure everyone would agree....i would bid on any of your ebay auctions if you had any with no hesitation.. you also are a great resource on knowledge on cards...i hope its doesn't look like i am bashing you...i just commenting.....also you are mentioned like the very very least out of the 100s of other names on there Last edited by 1952boyntoncollector; 01-28-2016 at 04:33 PM. |
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Garth Guibord
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Not to mention the data point each shill auction, including that one, provides the industry, but is also deceptive. I would hope people would be smart and decent enough that when they engage with somebody with shady practices, in this case an auction house who doesn't provide a specific service but encourages a deceptive alternative, they would simply walk away and find a more respectable auction house. Not offering a reserve, but suggesting this type of bidding as a proxy is a big red flag. Last edited by AGuinness; 01-28-2016 at 05:08 PM. |
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Just when I was warming up to you Pete......... Please tell me that you're not a family court lawyer though. Then I could care less. Those are the ones that directly piss me off the most. I think you can basically now be known as the Jason Giambi of this site. You admitted it and thus will take less flack. You will also be commended for owning up to it rather than hiding behind lies. It will be a mute point, it will all blow over. Now I'd like to know who the other's are on the site that aren't owning up !!
__________________
429/524 Off of the monster 81% 49/76 HOF's 64% 18/20 Overlooked by Cooperstown 90% 22/39 Unique Backs 56% 80/86 Minors 93% 25/48 Southern Leaguers 52% 6/10 Billy Sullivan back run 60% 237PSA / 94 SGC / 98 RAW Excel spreadsheets only $5 T3, T201, T202, T204, T205, T206, T207, 1914 CJ, 1915 CJ, Topps 1952-1979, and more!!!! Checklists sold (20) T205 8/208 3.8% Last edited by Joshchisox08; 01-29-2016 at 06:34 AM. |
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I know I was using your quote.
__________________
429/524 Off of the monster 81% 49/76 HOF's 64% 18/20 Overlooked by Cooperstown 90% 22/39 Unique Backs 56% 80/86 Minors 93% 25/48 Southern Leaguers 52% 6/10 Billy Sullivan back run 60% 237PSA / 94 SGC / 98 RAW Excel spreadsheets only $5 T3, T201, T202, T204, T205, T206, T207, 1914 CJ, 1915 CJ, Topps 1952-1979, and more!!!! Checklists sold (20) T205 8/208 3.8% |
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__________________
Read my blog; it will make all your dreams come true. https://adamstevenwarshaw.substack.com/ Or not... Last edited by Exhibitman; 01-28-2016 at 05:23 PM. |
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Last edited by Peter_Spaeth; 01-28-2016 at 05:42 PM. |
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Crickets
Anyone whose name is on that list in spite of their innocence is welcome to come here and set the record straight. Feel free to let us know all about how you didn't do it and how you're outraged that your reputation is being dragged through the mud. Go ahead and publicly declare your innocence right here. There is absolutely no reason not to, if you're innocent, so please post here so we can help you clear your name. If innocent people are being publicly accused of unethical actions which they didn't do, I say we demand an investigation into how that happened. Don't just sit there and let everyone think you have zero integrity. The truth shall set you free! Or shut you up. The truth will definitely do one of those two things.
-Ryan |
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Why would you ever put a bid in for something that you didn't think it was worth? Seems to me if you put a bid in for something at $5,000 and it's bid up to it, that's what you are willing to pay for it and what it's worth(to you).
__________________
I'm always collecting Hall of Fame Rookies and First Year Cards. |
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Based on Peter S's history on here...I am a little surprised as well that you do not see this type of behavior as wrong...a little shocking...but I respect u for coming forward.
On another note...apparently this type of behavior routinely occurs in other areas of collecting...fine arts, etc...where the "house" will "bid up" an item to a "hidden reserve" or such...and this is accepted. While I dont like this...I dont like most things...so go figure!!!! Many here consider these pieces of cardboard "Art"...is it time for the hobby rules to change? |
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Last edited by Peter_Spaeth; 01-28-2016 at 05:39 PM. |
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+1 I also know what Peter done was wrong but respect him for coming forward.
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I appreciate that. I much prefer to be slammed by people who disagree with me than to appear to be cowardly and not confront the issue.
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As heroic as it was to "come forward" AFTER he'd been publicly outed for shill bidding, which he actually did do, maybe every board member doesn't still need to come forward and congratulate Peter. I think we all get it. He did a wonderful thing and has received plenty of kudos and validation for it. Hopefully Peter will serve as inspiration for others to come forward and admit their guilt, which will certainly be received with thunderous applause while board members sing "For he's a jolly good fellow" before each one individually praises the shill bidder in a brand new post for being such a stand up guy.
-Ryan |
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It appears you haven't gone through the 10-step shiller program. Your are now a recovering shiller, which means stop digging. But I do commend you for having the balls to post. In 12 months, no-one will remember this. |
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Yeah, that is what I meant with my post. Agree Ben.
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Thanks for your response, Peter. Obviously, you did not gain from this transaction, and frankly, although you are defending him, I think your friend put you in a bad spot. If you had not accepted that request out of friendship, you would not be having to defend yourself now.
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Im a little confused
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__________________
The speed of light is faster that the speed of sound that is why some people appear bright until you hear them speak. Trying is the first step towards failing, and failing is the first step towards success! Life's lessons cost money Some lessons cost a lot.. |
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