Quote:
Originally Posted by carlsonjok
You mean like people with low value cards?
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Yes, but who's to say those same people didn't also consign cards to them that did get bids over $10? At least most reputable AHs that I've ever heard of will tell you they have some type of minimum value or level, under which they will not accept and sell a card, or at least combine cards from the same consignor so the lot reaches their required minimum.
I would be stunned if of the 3,000 or so lots that apparently didn't sell in their inaugural auction, every one was with a completely unique and different seller, and/or a large percentage of those owners of the unsold lots didn't also have another lot(s) that did sell for at least the minimum bid. So why when setting up and initially putting the auction together didn't PWCC simply take and combine some of those eventually unsold cards with other cards of that same particular owner so they would get minimum bids, instead of just taking some of that owner's cards? It isn't like PWCC is ignorant as to what most cards are approximately worth and likely to sell for. And given the known fact that they had been the top seller of sportscards in the secondary market on Ebay, and therefore likely in the world, I could easily see some attorney making the argument that they, of anyone else in the world, would probably know what cards should sell for, and by not advising (or requiring) consignors to combine cards in lots to meet their own minimum bid requirement, they were at least negligent in the provision of advice and sales services to clients, or at worst, doing it intentionally so as to take advantage of unsuspecting or unknowing consignors/owners. And I can also see an attorney further arguing that once they had taken ownership of someone's cards through this forfeiture provision, what is to stop them from turning around and doing what they should have done for the original owner, combine several of the cards so the lot does go for at least their minimum bid, except now instead of just getting their normal seller's commission/fee, they get to keep 100% of the sales amount.