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Posted By: marshall barkman

Bruce...i can answer your question. In 2003 a major auction house declared bankruptcy in Washington Dc. That auction house would be compared to Sotheby's of New York. They owed consignors and also estates millions of dollars. The clients were never compensated and anyone who consigned to Sloan's was not allowed to bid on any items while the bankruptcy was going on in fear they would not pay for the items due to the fact money was owed to them. The auction house was then bought by new ownership in 2004 but only the name was purchased and not the debt. The people still have not been payed back nor will they ever be. If a auction house goes bankrupt after selling your cards or antiques then you basically are done unless there is tangible assets. In the case of Sloan's the building was leased and the company owned nothing. My advice to anyone who feels a auction house or company is questionable then sell your goods on sites like this where you control your destiny.