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Michael CEveryone here is much more knowledgeable about Mastro than me, but since this is an Internet Message Board....everyone can have an opinion 
I agree that this seems like putting lipstick on a pig. Seems like a lot of short term thinking going on by those guys.
Some people will still be suspicious about them and think there is something crooked going on. But I have to believe that the new heads of Legendary Auctions don't really care about those few people. They have a bunch of consignments for their next auction in April and are eager to reap the $$ from those sales. Is that short term thinking? Yup.
Long term they will continue lose ground to REA and others, as future consignors see the huge sums and top notch items being sold by other houses. But there is enough of an established base of people who will consign and bid in their auctions to keep them humming. No disrespect meant, but the 20 or so vocal people here, who disdain them won't prevent the people who run the place from making a good living. Mastro was once upon a time at the top of the heap. Now they are headed to be a second tier auction house (at least in sports). But can you still make a good living running a 2nd tier house? Yup.
PR-wise I would say from reading their press release that these guys have heard the complaints about Mastro customer service. It will be interesting to see if they can improve the service so many people complain about.