Originally Posted by RGold (Post 1497520)

I was the consignor of a 1955 Red Man set in the August, 2007 Mastro Auctions which appears on the list being discussed. It is the only item where my name is listed as consignor and Peter Spaeth as the bidder.

Peter has already related the facts and expressed views as I see them. People may question my ethics but I ask that they at least acknowledge that this was the lone entry on a very long list, and that this one transaction was much different than many of those listed. I have had many private transactions with people on this board and as a seller and buyer on eBay, and I hope my past dealings are at least considered before passing judgment.

I made the decision to consign this set with Mastro Auctions despite the fact they would not use a reserve or high starting bid. They told me that they would allow me to select one bidder to place what constitutes a hidden reserve, as long as I understood that if that bid was the winning bid, I would have to pay a buyer's premium on that amount.

I assumed this was an acceptable practice as I was told this was done on other Mastro auction lots. At that time I believe Mastro Auctions was considered the premier auction house in our hobby.

I have been a member on this board for about 8 years, and have read the many discussions regarding shill bidding. My understanding and views have evolved over that time like I am sure it has for many other members. I understand and agree that using a hidden reserve in the way Mastro Auctions suggested is wrong. I only ask that the members here consider that this was done in 2007, that it was recommended by the leading auction house, that it was done once, that the hidden reserve was a fraction of the value of the lot, and that the buyer's premium was paid by me.

There was no intent to deceive anyone. This set was #1 on the PSA Registry by a very large margin. Every card was the highest graded at that time and almost half of the 50 cards were the only ones graded at that level. Any one interested in Red Man cards could see that I retired the set before the auction and then re-registered the set after the auction showing that the set had not changed hands.

Finally, and most importantly, I want to clarify the record. Peter is a good friend and wrote his explanation in such a way as not to distance himself from me, but the fact of the matter is that he did not place these bids, I did. He did know what I was doing because we discussed how I had been instructed to proceed by Doug Allen, and he does not deny that, but he was not an active participant in the bidding. The worst part of this whole affair is that an honest, good guy is being hurt for doing me a favor.

Originally Posted by RichardSimon (Post 1497541)

I don't know this individual but do want to ask one question.
When Mastro refused to take the set with a high minimum or reserve why would you not search for another auction house that would take it. The competition among auction houses is fierce and I am sure you could have found one of the leading auction houses who would have taken it under your terms.

Originally Posted by BASEBALLCARDGURU (Post 1497548)

As a newbie a few questions I like to ask is does anybody think this news will affect the market for Topps 1952 Mickey Mantle card or other similar much sought after cards?
Do some of these high sought after cards have artificial higher value because of this?

Originally Posted by RGold (Post 1497550)

I have not consigned many items but every auction house I have talked to does not like high starting bids because it looks bad to have unsold items. Also, there were not as many auction houses in 2007. Today, I see some of the newer and smaller auction houses using high starting bids, and I agree it is a bad look to see many lots unsold.

I am not sure why more auction houses will not use reserves except most buyers do not like participating in them.

Originally Posted by RGold (Post 1497520)

I made the decision to consign this set with Mastro Auctions despite the fact they would not use a reserve or high starting bid. They told me that they would allow me to select one bidder to place what constitutes a hidden reserve, as long as I understood that if that bid was the winning bid, I would have to pay a buyer's premium on that amount.