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Posted By: leon

You are correct in my hoping that Mastro is found to have not done any wrongdoing. Many of them I consider friends and I always hope the best for friends. I am not naive though so am waiting for the outcome of the investigation. I think you are smart enough to know that the piddly amount I receive from any advertiser is not enough to lose what decent name I have made for myself in the hobby. I don't "protect" anyone on the board and the board is wide open for comments, with the anonymity rules in place. When O'keefe called me at the National I told him exactly what I thought and he did a damn good job of reporting exactly what I said. Friend or not, if someone gets caught with their hand in the cookie jar then they should pay just like anyone else, inluding you or I. I think there are folks close to the investigation that read the board and my understanding(privately)is that there will be some indictments eventually handed down. I do not think this will be the demise of the auction business at all and it might actually make it stronger, after the fact. As a matter of a fact I have told numerous people that I hope more investigations happen. Why not? Scott B and I are in an extraordinary position with our auction house in that we know most of the current pitfalls and have written procedures in place to help alleviate concerns, whereas older more established ones have set policies....that they may have to change a little bit moving forward. I still find it hard to believe that it is common practice for employees of auction houses to bid in their own auctions...but that is a personal opinion.... best regards