Posted By:
Brian H (misunderestimated)Without having researched the issue (under Nevada law, is my best guess)... I would venture to day it is legal provided it is properly disclosed -- i.e. not deceptive....
Ethical -- well, that's up to you to some extent although I would think that it is ethical as long as its disclosed clearly.... The key is not to deceive consumers while performing the "prime directive" of an consignee (which Bruce identified in no uncertain terms -- maximizing profit for its consignors).
Still, as someone who bid on individual lots (and has in similar auctions in the past) I can certainly see why "Blacksox" is rather frustrated/peeved by this sort of auction -- it almost feels like there is another reserve or bidding an option for a card rather than a card...
By the way AmericanMemorabilia.com really impressed me so far with how quickly they: let me know if I won (as an individual lot bidder this meant telling me that the set did not sell as a set), Accepted payment (credit card which is nice for achange, and shipped out my winnings.