Posted By:
Aaron M.As someone who has spent alot of money over the years in Mastro auctions, I have been closely following the developments of the last year with respect to the FBI's investigation of Mastro. I'm sure some of you read that Mastro was hit with subpoenas during the National as the FBI is investigating Mastro for all sorts of practices including shilling (Mastro was unable or unwilling to supply the FBI with past bidding records) and doctoring and misrepresenting "authenticated" material (PSA was hit with subpoenas in connection with the government's building case).
So with the FBI watching so closely and the investigation on-going, last night Mastro's big summer auction ends and its final total tally barely surpassed $5M. Despite the fact that for many years Mastro's auctions would without fail surpass $10M and usually inch closer to $12M.
So what do you think is happening?
Is the economy slowing down buying?
Is Mastro just not attracting the same quality of cards and memorabilia?
Are bidders scared to bid high with Mastro because of the investigation?
Or has Mastro stopped the practice of shilling (if indeed they were shilling to begin with)?
I would love to hear fellow collectors opinions.