Posted By:
ScottI'm not sure I follow the reasoning for holding the auction. If the attempt was to establish what a NM Mantle is "worth" on the market, then there are/should be dealers who could provide actual sales of various grades of the same card over the past 1-2 years. I would also assume that to PROVE that someone was willing to pay what they bid, you would then have to reveal their identity (to confirm it wasn't simply your best friend or mother bidding) - which would kind of defeat the purpose of having a private auction.
Just because someone else is willing to pay 12,500 dollars for a card doesn't mean that I am (or that you were whenever the card was bought).
If the people that sold you the cards in question originally, knew they were ripping you off, then I hope that at the end of this they are duly rewarded. But I would also say that there just seem to be many better ways to be going about this without affecting others. Personally, I don't think the auction really proves anything. But then again maybe thats why I'm not a lawyer.