Quote:
Originally Posted by Lorewalker
That was my failed attempt at the point. It was done for their consignors. The house does not benefit at all from having done this.
I did raise the question the other day that Ryan and the house had already estimated the values of his consignments. Not sure if all 54 cards stolen were his but there was an agreement as to what they both felt the cards would sell for. I know that estimate prior to consignment being sent is not the same as the auctions having run their course but the house was not in total darkness about what those lots were worth. Turned out they were close to spot on. It begs the question if they really needed to leave the lots in there for valuation purposes.
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Their valuations on specific lots were all over the map according to what Ryan posted, they just happened to work out in the aggregate. Not sure insurance is going to just accept a pre auction estimate either as you point out.