Posted By:
Corey R. ShanusIn my view that info is material and therefore should be disclosed.
To go back to the question I raised, here's another twist. Why couldn't it be argued that (i) because there seems to be a consensus that the percentage of altered cards in graded slabs is 15% or higher (yes, I know some think it is much lower but at least from the posts on this board I think that number reflects general consensus), (ii) the economic loss from buying such a card could be staggering, and (iii) auction houses can cost effectively take reasonable measures to substantially lower the risk, that auction houses will be found to have acted recklessly unless and until they themselves conduct their own examination of such cards, which shall include examination under halogen and black lights?