NonSports Forum

Net54baseball.com
Welcome to Net54baseball.com. These forums are devoted to both Pre- and Post- war baseball cards and vintage memorabilia, as well as other sports. There is a separate section for Buying, Selling and Trading - the B/S/T area!! If you write anything concerning a person or company your full name needs to be in your post or obtainable from it. . Contact the moderator at leon@net54baseball.com should you have any questions or concerns. When you click on links to eBay on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network. Enjoy!
Net54baseball.com
Net54baseball.com
T206s on eBay
Babe Ruth Cards on eBay
t206 Ty Cobb on eBay
Ty Cobb Cards on eBay
Lou Gehrig Cards on eBay
Baseball T201-T217 on eBay
Baseball E90-E107 on eBay
T205 Cards on eBay
Baseball Postcards on eBay
Goudey Cards on eBay
Baseball Memorabilia on eBay
Baseball Exhibit Cards on eBay
Baseball Strip Cards on eBay
Baseball Baking Cards on eBay
Sporting News Cards on eBay
Play Ball Cards on eBay
Joe DiMaggio Cards on eBay
Mickey Mantle Cards on eBay
Bowman 1951-1955 on eBay
Football Cards on eBay

Go Back   Net54baseball.com Forums > Net54baseball Main Forum - WWII & Older Baseball Cards > Net54baseball Sports (Primarily) Vintage Memorabilia Forum incl. Game Used

Reply
 
Thread Tools Display Modes
  #1  
Old 05-28-2009, 01:15 PM
gnuche gnuche is offline
member
 
Join Date: May 2009
Posts: 22
Default Mastro/legendary consignment checks?

For the last month the message on mastroauctions says the intend to send checks out in May. With two days left in may what are the chances?
Will Mastroauctions ever pay the consignors? From a legal standpoint I consigned
when all the new owners of legendary auctions were with Mastro. Can they legally be held responsible for the debt since they were a part of mastro when the auction took place.Am I the only one who feels that legendary is badly tainted by this whole mess? Is mastroauctions eventually going to pay or are they getting ready for bankruptcy?

Last edited by gnuche; 05-28-2009 at 01:16 PM.
Reply With Quote
  #2  
Old 05-28-2009, 01:41 PM
slidekellyslide's Avatar
slidekellyslide slidekellyslide is offline
Dan Bretta
Member
 
Join Date: Apr 2009
Location: Lincoln, Nebraska
Posts: 6,122
Default

I have no idea if Mastro is ready to file bankruptcy, but I'm almost certain the principles of Legendary are not responsible for anything that Mastro is liable for. Since all the individuals running Legendary are also the same as those who were running Mastro I can't see how not paying consignors won't reflect poorly on Legendary.

The whole thing reminds me of a fellow here in town (Rod 'The Krusher' Kush - yes the former pro football player) who owned a furniture store that had possibly the worst customer service you can imagine...I had two poor experiences with his store and the last one ended up with me filing a complaint with the BBB. The store had the lowest rating one can get from them before I ever lodged my complaint. His store went out of business a few years ago.....now he is opening a new store and he still owes hundreds of thousands of dollars on his old store.
__________________
Looking for Nebraska Indians memorabilia, photos and postcards
Reply With Quote
  #3  
Old 05-28-2009, 02:06 PM
Jim VB's Avatar
Jim VB Jim VB is offline
Jim VB
Member
 
Join Date: Apr 2009
Posts: 2,090
Default

Just to clarify, are you waiting for payment from the final Mastro auction, of the premier Legendary auction?

In the case of the former that seems well over due. If it's the latter, you may be waiting a little while longer.

I'm not a lawyer, but it seems to me that all the steps they have taken to separate Legendary from Mastro would not stand up to close scrutiny. To announce that Legendary has acquired the assets of Mastro is ludicrous. They were/are owned by the same investment group (Silk Road Equity). Any money transfered during the sale came out of a left hand pocket and into a right hand pocket (with perhaps, a little going Bill's way to stay out of the new company.) Doesn't seem like it would take much work to prove that the "sale" was a farce.
Reply With Quote
  #4  
Old 05-28-2009, 02:21 PM
gnuche gnuche is offline
member
 
Join Date: May 2009
Posts: 22
Default mastro/legendary consignment checks?

Jim,
I consigned a large lot of cards to mastroauctions on 9/28/2008
Yes 2008! It was auctioned in mastro's last auction. 8 months
Reply With Quote
  #5  
Old 05-28-2009, 02:24 PM
Jim VB's Avatar
Jim VB Jim VB is offline
Jim VB
Member
 
Join Date: Apr 2009
Posts: 2,090
Default

I'd be looking for an attorney by now.
Reply With Quote
  #6  
Old 05-28-2009, 02:56 PM
Rob D. Rob D. is offline
Banned
 
Join Date: Apr 2009
Posts: 3,422
Default

Quote:
Originally Posted by Jim VB View Post
I'd be looking for an attorney by now.
Or perhaps an owner of a chat room.
Reply With Quote
  #7  
Old 05-28-2009, 03:05 PM
Leon's Avatar
Leon Leon is offline
Leon
peasant/forum owner
 
Join Date: Mar 2009
Location: near Dallas
Posts: 34,196
Default owner of a chat room?

Are we a chat room? As much as I get beat up I thought it was a boxing ring, or an octagon? I will make a call or two but I have a feeling I might not find much out. I am sorry you are having this problem Gary.....You are certainly one of the good guys in the hobby.....

btw Gary- have you tried calling Doug?

Last edited by Leon; 05-28-2009 at 03:05 PM. Reason: additional question
Reply With Quote
  #8  
Old 05-28-2009, 04:06 PM
gnuche gnuche is offline
member
 
Join Date: May 2009
Posts: 22
Default http://www.net54baseball.com/showthread.php?p=726331#post726331

Leon, I have not talked to Doug or anyone else for that matter. The message on mastroauctions said they were hoping to have all checks mailed in May.
I was waiting(naively I guess) thinking I will get paid in May. Legendary said they are not responsible for consignment checks for the last mastro auction.
Why call Doug?
Reply With Quote
  #9  
Old 05-28-2009, 04:17 PM
Leon's Avatar
Leon Leon is offline
Leon
peasant/forum owner
 
Join Date: Mar 2009
Location: near Dallas
Posts: 34,196
Default Why call Doug?

Hey Gary
Doug was the President of Mastro. He probably has connections. As for me making calls that is who I would call to find out. I have never spoken with Bill Mastro on the phone but I have spoken with Doug many times....I would start with him....shoot me an email if you want his number or you want to chat off line...

leonl@flash.net
Reply With Quote
  #10  
Old 05-28-2009, 05:22 PM
Rob D. Rob D. is offline
Banned
 
Join Date: Apr 2009
Posts: 3,422
Default

Quote:
Originally Posted by Leon View Post
Are we a chat room?
Sorry, I got mixed up on my Internet communication venues.

Although technically, thanks to this new forum platform, you could list a chat room among your assets.
Reply With Quote
  #11  
Old 05-28-2009, 05:36 PM
Leon's Avatar
Leon Leon is offline
Leon
peasant/forum owner
 
Join Date: Mar 2009
Location: near Dallas
Posts: 34,196
Default Rob...an asset?

Quote:
Originally Posted by Rob D. View Post
Sorry, I got mixed up on my Internet communication venues.

Although technically, thanks to this new forum platform, you could list a chat room among your assets.

or a liability
Reply With Quote
  #12  
Old 05-28-2009, 05:41 PM
Rob D. Rob D. is offline
Banned
 
Join Date: Apr 2009
Posts: 3,422
Default

Thanks for that.
Reply With Quote
  #13  
Old 05-28-2009, 07:15 PM
HRBAKER's Avatar
HRBAKER HRBAKER is offline
Jeff
Member
 
Join Date: May 2009
Location: Somewhere
Posts: 5,255
Default

Quote:
Originally Posted by leon View Post
or a liability
say no to crack!
Reply With Quote
  #14  
Old 05-28-2009, 10:10 PM
Jim VB's Avatar
Jim VB Jim VB is offline
Jim VB
Member
 
Join Date: Apr 2009
Posts: 2,090
Default

Quote:
Originally Posted by Leon View Post
or a liability

Leon,

If you've got a suggestion box going... that is probably a feature we could do without.


I'm just saying...
Reply With Quote
  #15  
Old 05-29-2009, 09:46 AM
RichardSimon's Avatar
RichardSimon RichardSimon is offline
Richard Simon
Member
 
Join Date: May 2009
Location: New York City
Posts: 5,425
Default

Considering they were lightning fast to criticize my testimony in a deposition I gave in a lawsuit against them by Bill Daniels, it is amazing that speed has deserted them when it comes to paying consignors.
Reply With Quote
  #16  
Old 05-29-2009, 10:31 AM
egbeachley's Avatar
egbeachley egbeachley is offline
Eric Bea.chley
 
Join Date: May 2009
Posts: 920
Default

The consignors don't have the ultimate risk, the buyers do. If Mastro goes bankrupt, and has no money, the items go back to the consignor since the sale wasn't completed (a consignment becomes a sale only upon payment).
Reply With Quote
  #17  
Old 05-29-2009, 01:54 PM
baseballart's Avatar
baseballart baseballart is offline
Max Weder
Member
 
Join Date: Apr 2009
Location: Vancouver BC
Posts: 1,137
Default

I can't comment on any aspect of law in the United States, but in Canada, a consignor should register a personal property security interest for their consignment, and even then, the interest is generally not sufficient to compel the return of goods from a bona fide third party purchaser. This means that if a Canadian auction house goes under without paying its consignors, the consignors are out of luck

Max
Reply With Quote
  #18  
Old 06-09-2009, 06:17 PM
Knuckles Knuckles is offline
member
 
Join Date: Jun 2009
Posts: 6
Default

I'm in the same boat. I consigned back in October. One item made it into their December auction and I received payment finally by mid March. The second item went into the February auction and I'm still waiting for the close to 2 grand for that one.


On May 13th Walter Tomala sent me this e-mail

Garret, we're expected to make all payments to consignors by the end of May. Sorry for the delay.

Thanks,

Walter Tomala



Then on Sunday, May 31, 2009 I received this e-mail.


Subject: Mastro Auctions Consignor Update

Dear Garret,

Now that June is upon us we thought it would be appropriate to communicate the current situation related to the amounts owed to you from past consignments.

First and foremost in liquidating Mastro Auctions we remain confident that all consignors will be paid. We were hopeful that based on monies received by Legendary Auctions and by liquidating other assets including accounts receivable and inventory this would have been accomplished by the end of May. We are working diligently to liquidate all assets in order to be in a position to remit the outstanding obligation you are due. We have had to take legal action on a few significant accounts that owe us money. In addition we have a few large receivables that will mature in the next few months. We are confident that the actions we are taking will yield positive results which will enable us to pay you. As of the current date we have extinguished all of our senior secured bank obligations and the monies we recover from these other sources will be used to pay out these final obligations. Our inability to pay these obligations in a timely fashion has been very unfortunate and for that we apologize. We ask for your to bear with us as we continue to work through this very difficult situation.

Sincerely,

Walter Tomala
Controller
Mastro Auctions



It's been frustrating, and it's no wonder why their current auction is so weak. How about paying the consignors that make your business a possibility.

- Garret
Reply With Quote
  #19  
Old 06-09-2009, 06:23 PM
Knuckles Knuckles is offline
member
 
Join Date: Jun 2009
Posts: 6
Default

Also, for what it's worth I've read else where that Legendary and Mastro are still under the same ownership: Silkroad Equity

- Garret
Reply With Quote
  #20  
Old 06-09-2009, 06:47 PM
gnuche gnuche is offline
member
 
Join Date: May 2009
Posts: 22
Default http://www.net54baseball.com/showthread.php?t=112699

Sooo, they have a few CD's that will come due in several months. The bank that
has them would give them a short term loan for probably a 1/4 of a point
using the cd's as collataral. I can understand why Mastro wouldn't care, but you
would think the other three owners would want to clean this up as quickly as possible to avoid all the negative publicity. Just because Doug/Mark/Bill and Ron made a gentlemen's agreement amongst themselves as to who owes what a court of law would probably laugh at it.
IMO they will all go into bankruptcy after they auction off Bob Gibson's stuff at the national, and that is why none of them give a rat's ass. I have held off talking to an attorney but wondered if a class action suit could be filed against legendary & Mastro? Any lawyers on the board have any opinion?
Reply With Quote
  #21  
Old 06-09-2009, 08:14 PM
three25hits's Avatar
three25hits three25hits is offline
Brian
Member
 
Join Date: Apr 2009
Posts: 157
Default

Random thoughts by legendaryauctions.com

we offer consignors peace of mind that their consignments will be treated with the utmost care and that every aspect of the auction process will be executed with the greatest attention to every detail.

Our goal is your total satisfaction with the presentation of your fine collectibles. We do whatever it takes

Last edited by three25hits; 06-09-2009 at 08:15 PM.
Reply With Quote
  #22  
Old 06-10-2009, 09:03 AM
Griffins Griffins is offline
Anthøny N. ex
Member
 
Join Date: Apr 2009
Location: Los Angeles
Posts: 1,282
Default

I had a hard time getting paid by Mastro. Calls to Doug went unanswered, as did faxes, emails and letters. Leon kindly stepped in and got it taken care of. Although they did move slowly, they did move and it was eventually resolved.
Based on my experience I would rather haul everything to a local card shop before I ever considered consigning to them again. This ship looks to be taking on water fast.

Last edited by Griffins; 06-10-2009 at 03:37 PM.
Reply With Quote
  #23  
Old 06-10-2009, 12:11 PM
chaddurbin's Avatar
chaddurbin chaddurbin is offline
qu@n nguy3n
 
Join Date: Apr 2009
Posts: 2,688
Default

ugh that's some bad news gary...hope it gets straightened out soon but if not you can talk to doug/mastro/legendary personally at the nat'l?

quan
Reply With Quote
  #24  
Old 06-12-2009, 03:51 PM
Bosox Blair Bosox Blair is offline
Member
 
Join Date: May 2009
Posts: 1,470
Default

Quote:
Originally Posted by chaddurbin View Post
ugh that's some bad news gary...hope it gets straightened out soon but if not you can talk to doug/mastro/legendary personally at the nat'l?

quan
Hahaha! For the guys I grew up with "talk personally" would be an effective and fear-instilling tactic .

Cheers,
Blair
Reply With Quote
  #25  
Old 06-24-2009, 01:52 PM
Wesley Wesley is offline
Member
 
Join Date: May 2009
Posts: 183
Default

Any progress for you, Gary? Strangely, I have been paid for the April auction, but not the February one.
Reply With Quote
  #26  
Old 06-24-2009, 04:56 PM
gnuche gnuche is offline
member
 
Join Date: May 2009
Posts: 22
Default Mastro/legendary cosignment checks?

Nothing from mastro/legendary yet. They advertise peace of mind to consignors.They owe me over 5k and I wonder how many other consignors are being scammed. They advetise their ethics are seconed to none. What a joke. These guys maneuvered to legally put themselves in a position so as to not
be liable for mastro's debts but continue to take credit for all the positives about mastro. Sale of a Wagner, millions in sales etc etc. These guys have
the same ethics as coaches corner. CC screws the buyers and The sons of
mastro auction house screw consignors. Leon, I think youn should suspend all
their advertising until everyone is paid. How much do they owe people Millions?How many consignors have they shafted Hundreds? Thousands? REA listen up!You do 3 or 4 auctions a year and these guys will be begging you for a job.
Leon, remember how mad you got when you got screwed. Legally they may
have covered their asses but ethically they have no excuses. They should all
be ashamed of themselves. Kick them off net54 The biggest scam of all times in both number of people screwed and the number of dollars consignors
have lost. I hope Bob Gibson got some up front money.
Reply With Quote
  #27  
Old 06-24-2009, 05:29 PM
three25hits's Avatar
three25hits three25hits is offline
Brian
Member
 
Join Date: Apr 2009
Posts: 157
Default

Quote:
Originally Posted by gnuche View Post
Nothing from mastro/legendary yet


Very interesting points gnuche -- sorry you are having to deal with this...


.

Last edited by three25hits; 06-24-2009 at 05:30 PM.
Reply With Quote
  #28  
Old 06-24-2009, 06:03 PM
Wesley Wesley is offline
Member
 
Join Date: May 2009
Posts: 183
Default

If Mastro/Legendary still has not paid their consignors for the December 2008 or February 2009 auctions, then I don't think Gary's suggestion is unreasonable at all. Certainly the decision belongs to Leon, but we have seen BST users (appropriately) banned before for not honoring their agreements, and this seems a lot worse and on a much larger scale.

Last edited by Wesley; 06-24-2009 at 06:17 PM.
Reply With Quote
  #29  
Old 06-24-2009, 08:30 PM
three25hits's Avatar
three25hits three25hits is offline
Brian
Member
 
Join Date: Apr 2009
Posts: 157
Default

Seems that two people in this thread are owed $7,000.00

I'd wager to say that if this money were "lost" on the BST in just two transactions, the indignation would be loud and constant. Just today, the posts were fast and furious over someone "selling" cards before he had the cards in his possession. That is minor and trivial compared with what's going on here...

Last edited by three25hits; 06-24-2009 at 08:34 PM.
Reply With Quote
  #30  
Old 06-24-2009, 08:39 PM
Jacklitsch's Avatar
Jacklitsch Jacklitsch is offline
Steve Murray
Member
 
Join Date: Apr 2009
Location: Illinois
Posts: 1,739
Default

When I'm ready to divest there is no way Legendary is going to get any of my business. I'm to the point of not even looking at the catalogs.

For what its worth this might have got more traction if posted on the main board.
Reply With Quote
  #31  
Old 06-24-2009, 09:31 PM
HRBAKER's Avatar
HRBAKER HRBAKER is offline
Jeff
Member
 
Join Date: May 2009
Location: Somewhere
Posts: 5,255
Default

Quote:
Originally Posted by three25hits View Post
Seems that two people in this thread are owed $7,000.00

I'd wager to say that if this money were "lost" on the BST in just two transactions, the indignation would be loud and constant. Just today, the posts were fast and furious over someone "selling" cards before he had the cards in his possession. That is minor and trivial compared with what's going on here...
Brian,
I am in full agreement. This is beyond ridiculous. Let me add that I believe the Ryan situation was handled correctly and promptly unlike the payment situation IMO.
Jeff

Last edited by HRBAKER; 06-24-2009 at 11:23 PM. Reason: clarity
Reply With Quote
  #32  
Old 06-24-2009, 09:42 PM
Leon's Avatar
Leon Leon is offline
Leon
peasant/forum owner
 
Join Date: Mar 2009
Location: near Dallas
Posts: 34,196
Default always an ongoing concern

Banner advertisers are always under scrutiny and I am sure these issues will be taken into account when the next term for their ad is due. I certainly understand the frustration.....

AS for what happened on the board today with the Ryan situation it was an obvious error and was corrected on both of the biggest boards it was on. I would say that particular issue was taken care of very well, at least in the long run.....
Reply With Quote
  #33  
Old 06-24-2009, 09:57 PM
three25hits's Avatar
three25hits three25hits is offline
Brian
Member
 
Join Date: Apr 2009
Posts: 157
Default

From what I know, the situation today was handled correctly and fairly.



How much longer does legendary/mastro have on their term? I'm glad that T-206 Museum didn't have a banner ad term when their business methods were revealed, or we'd have to look at their logo for the remaining term as well.

That legendary/mastro can continue advertise here, and gain new "customers" here, while not paying folks here -- it just stinks. If a random board member were doing what legendary/mastro is doing, they would be ridiculed and banned (probably very quickly). And rightly so...

I can't imagine the frustration of our hobby brothers who consigned to mastro in good faith, and then have promise after promise broken, and still not paid.

As Steve mentioned, its a shame this thread isn't on the main board...
Reply With Quote
  #34  
Old 06-24-2009, 10:47 PM
E93's Avatar
E93 E93 is offline
Member
 
Join Date: May 2009
Posts: 2,202
Default

Gary,
I am really sorry to hear this is happening to you. You are one of my favorite people in the hobby. This really sucks.
JimB
Reply With Quote
  #35  
Old 06-24-2009, 11:02 PM
3-2-count's Avatar
3-2-count 3-2-count is offline
T0NY @
Member
 
Join Date: Apr 2009
Posts: 1,844
Default

Gary,
I echo Jim B's feelings here. You are top notch and this is just an absolute "CRIME"!!!! So sorry you have to deal with this.
Brian states it best above. For them to be able to advertise here for business and then not pay is just sickening.

edited to add, I am in full agreement that this thread should be moved to the main board. It's the right thing to do........

Last edited by 3-2-count; 06-24-2009 at 11:07 PM.
Reply With Quote
  #36  
Old 06-25-2009, 12:29 AM
Bicem's Avatar
Bicem Bicem is offline
Jeff 'Prize-ner'
Member
 
Join Date: Apr 2009
Location: Seattle
Posts: 4,051
Default

Quote:
Originally Posted by 3-2-count View Post
edited to add, I am in full agreement that this thread should be moved to the main board. It's the right thing to do........
agreed, need to warn people before others think about consigning to them.
Reply With Quote
  #37  
Old 06-25-2009, 08:34 AM
smtjoy's Avatar
smtjoy smtjoy is offline
Scott Mt. Joy
Member
 
Join Date: Apr 2009
Posts: 1,020
Default

This is down right wrong and something should be done. After reading this, just seeing the adds above is like a slap on the face, they really should be taken down till they take care of this. Give them their advertising money back, maybe they could use it to pay their consignors.
Reply With Quote
  #38  
Old 06-25-2009, 08:52 AM
Leon's Avatar
Leon Leon is offline
Leon
peasant/forum owner
 
Join Date: Mar 2009
Location: near Dallas
Posts: 34,196
Default Guys

Ya'll don't know the whole business story. Regardless, I agree with pretty much everything folks are saying. Their ad was paid for in advance for 6 mos, from Jan1. The renewal is only a few days away. I doubt they will continue to have a banner on this board. I wish I could say everything I am privy to but I just can't. Gary N is a good hobby friend and there is no way I like what is happening to him or any other consignor that hasn't been paid. Thanks....
Reply With Quote
Reply



Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On

Forum Jump


All times are GMT -6. The time now is 09:16 AM.


ebay GSB