Memory Lane sold cards they didn't have per SCD
 

Well color me shocked. Shocked I tell you...

Anyone hear anything about this or know more details? SCD claims that Memory Lane ran auctions for $2 million worth of cards that were stolen from the hotel at Strongsville and they just allowed the auctions to run anyhow, in hopes that they might be able to track them down lol.

https://www.sportscollectorsdaily.co...om-ohio-hotel/

Wow, wonder if the D304 Matty was one of the cards.

Gypsies?

This has to be a first, no? How many of those cards were Ryan's and did they ever inform him? Seems a little irresponsible (huge understatement) to have shipped 2 million dollars worth of cards to a Best Western for the hotel to receive on behalf of the card dealer. I mean what could possibly go wrong?

They had 3 weeks to find the cards but they let them run anyway? Hmmm...

This one trumps both the 51 Bowman Mantle being stolen in the line for ice cream and the dude who held the brown paper bag full of $1 bills while the customer took a pile of cards to show his son.

When I arrived at the hotel in Strongsville Thursday, Joe was in the lobby having a prolonged conversation with the authorities. I guess I now know why.

I think things are going to change after this debacle. I never felt comfortable about AH’s displaying consigned items at card shows thousands of miles away from their headquarters. Especially with today’s prices. It’s too risky. Is insurance going to cover all of this?

Wow, I really dislike people who steal, especially when it's an inside job which I would bet dollars to donuts this is.

In my best Desi Arnaz voice, "Best Western, you have some splainin' to do".

This doesn’t make sense, why would ML keep an auction running if the items were stolen? Something doesn’t add up.

Good question. I guess it depends on the requirements of the policy. It is possible they would decline coverage since it was not sent to someone who was a party to the transaction. They essentially sent it to a stranger and told them to hang on to it for them for a few days. :eek:

In the hopes that the cards would be found, which is unlikely.
What it does do is establish the value of the insurance payout for the consignors.

Maybe kept the auction going so they would have values for insurance claim?

I really hope that’s not the case.

I'm not sure how else would you establish insurance value?

Leaving the auction run actually makes more sense than trusting a shipping company with a small box worth millions of dollars.

And leaving the auction run only makes a tiny bit of sense to me.

Lol, no. Of course not. Not if the details in that article are correct anyhow.

Now I'm worried that they won't be able to pay me for my lawsuit... Ugg

Not sure either, but if I’m a bidder I am bidding with the assumption the card is not stolen. I think that’s a fair thing to assume!

Correct

So if I went after a card they can't deliver over another card I also wanted, I guess I'm just SOL...Or if I sold stock, paid a big capital gains tax to finance a card they can't deliver....now what????

You’d have to keep the loss of the cards close to the vest then too. If people knew they didn’t have to pay, they might bid things up for unscrupulous reasons.

I don’t even want to know how thieves are able to monetize heists like this. For those of us who appreciate the artwork and rarity in cardboard, this is no different than paintings being pilfered from galleries, in my view. Pisses me off.

From the article:

"The cards remained in the auction in hopes that police could recover them prior to last weekend’s close but as of Monday night, they were still missing and company officials spent Monday informing buyers of what happened. All were fully insured so consignors will receive their proceeds from Memory Lane."

Are you saying consignors will not be compensated fully for the hammer price of the missing cards?

Tonight will be the second night in three that I won’t get much sleep. I’m pretty devastated.

Did you get a Dear John email?

Imagine assuming that the staff of a Best Western in small town U.S.A. can be trusted with a $2 million package, just for a few days…

By selling them to the huge number of collector's that won't care they are stolen. Our most frequent topic is explaining why lying and fraud are okay, they won't have a hard time moving stolen goods in this hobby.

Phone call and email. I just hope and pray the cards are recovered and the scumbag thief serves hard time.

Integrity is definitely in short supply nowadays.

Sorry to hear.

Want to disclose what card or cards?

https://uploads.tapatalk-cdn.com/202...4fe03cbd49.jpg

Truly sorry to hear that, bidders got the short shrift but I don't see how it could have played out differently.
I'd assume if the cards are recovered you would be given first option, which isn't much of a consolation but it's something.

And I agree, some flunky Best Western thief should definitely spend some time in the cooler.

Holy Shit Daryl, that's a gut punch.

Yes, that’s correct.

If ML uses Collectibles Insurance Service, if I read it correctly, it appears they will have no coverage. The attached is from a standard dealer policy that a friend just sent me.

It will be interesting to hear from Ryan on this. I for one didn't receive a call/email, but I just had some mid grade T206 and a T200. Old Mill E Collins PSA 6 was most valuable. Lots of winners of of Cracker Jacks posting in the ML auction thread here.

The article mentioned T206, Cracker Jacks, Caramel cards and Brunners as missing.

And Exhibits.

My CJ wins would not have made the Strongsville cut, I'm curios about the Matty though, that's not a card that would miss detection in the hobby. Much like trying to sell the Mona Lisa at a flea market, it's too hot. Unless a Russian Oligarch wants to bury it in his collection.

Insurance
 

Holy shit that sucks...I understand the insurance angle but that money could have gone to other cards in the auction...Jerry

Of course ML had insurance on the cards in case of theft at or loss on the way to a show.

There were 50 cards or so stolen, cards that are easily identifiable if they're either offered for sale at auction or sent into PSA or SGC, who I presume have already been provided scans of the cards and are on the lookout for these cards if sent in raw for grading. Anyone who buys the cards as slabbed would be buying stolen property; not a great investment I promise.

And I have no doubt Ryan will be made whole as if his cards sold for the prices realized at auction; that's what insurance is for.

My guess is some hotel employee stole them, having no idea either the value or rarity of the cards. He's probably panicked at this point, not appreciating what he stole at the time. I just hope he didn't dump them somewhere in an effort to get rid of the evidence. While it's incredibly frustrating for any of the winners of these really rare, special cards, the buyers aren't out any money, just a few hours of sleep. Travis, that can be count two of your humdinger of a lawsuit. :)

That’s some bad news. I’m crossing my fingers as I won two of the tougher T206’s in the auction. I just watched a couple of the YouTube videos from Strongsville to see if if they happened to be in the videos, but I didn’t see any T206 on their tables during a couple of the YouTube videos.

No VM or emails, so I’ll keep my fingers crossed.

Bob

They shipped them to the hotel? It's like asking for them to be stolen... Is that seriously something dealers at shows do? If so I would STOP doing that asap.

Drive them in a car, or armored truck if that's your thing. But don't ship them to a hotel your staying at that is going to be a mecca for expensive cards. Come on now.

Auction houses
 

Now other auction houses can say "at least our stuff doesn't get stolen in crappy hotel rooms and we pay our consignors within 30 days"...Jerry

My lawsuit has nothing to do with this. It's a small claims court filing.

Also, I am less confidence than you that the insurance company would pay out on this claim. Hopefully the cards are recovered.

You’re actually going to take the time to sue ML in small claims court? And then take a judgment from one state and try to enforce it in another state?

I’m reminded of the great Morris Albert hit of 1977 “Feelings”.

https://m.youtube.com/watch?v=CyBcHU...FsYmVydA%3D%3D

Just curious - let's say the cards were found and a perp was arrested - would they have to be held as evidence until a trial? Or could ML sell them and ship them out to the winning bidders and use pictures/scans as evidence?

What if the perp was going to plead innocent. Doesn't that make it even more likely that law enforcement would hold on to the cards as evidence?

My guess is ML would care more about getting the cards to the auction winners than pressing charges. I have no doubt that’s all that matters to the auction house.

Yep. They pissed me off. Plus it'll be a fun learning experience.

Same state.

Interesting case for that amount of cards to be stolen and still auctioned!! Hate it for all the winning bidders especially the 14 CJ winners!

FYI Police detectives will only hold onto the cards as long as necessary to conduct their investigation. They would not be holding $2M worth or cards in property for the duration of a trial. All US courts are backlogged with cases since COVID so a case going to trial will likely take months to years.

Think about it if your 2020 Tesla was stolen and the police recovered it they certainly would not hold onto it for a trial to take place a year later. That would cause too many inconveniences especially if that was your only mode of transportation. Once the investigation is complete the property will be returned to the owner.

LOL. Yeah, the fact that a large heavily insured box showed up at a Best Western a few days before the card show next door . . . who could possibly have connected the dots.

Here's an insane thought . . . .hire a bonded security guy and put him on an airplane and throw in two nights at the Best Western . . . one rule . . . must take cards on the plane and never leave them from your sight. That means they don't go into checked baggage and don't even go in the overhead compartment. Just keep them in your eyesight until the moment you hand us the bag.

Nah, fk it, just mail them to the Best Western and hope for the, uh, best.