[Archive]

Posted By: P Spaeth

As to your other point, if the auction house is not entitled to rely on the third-party opinion but instead is held to a duty to independently authenticate, then at least in this context how "meaningful" is the third-party opinion? It seems to me, because it is difficult to articulate partial duties, one must either take the position that the third-party opinion absolves the auction house of duties except in the case of red flags; or the auction house has a duty to independently authenticate certain types of material, in which case the third-party opinion has no legal effect.