I still have a problem with the dealer being fully responsible for restitution. Sure, if it's a $300 item and it turns out to be bad, write a check and move on. It's a writeoff and just good business.
But let's say it's a 100K item, and it's something you wouldn't normally handle, but because it had a LOA from a reputable third party, you had a sufficient level of comfort. Then five years later, you get a call from the person you sold it to who says he knows it's bad and he wants his 100K back. And you don't have that kind of money (most dealers don't), you can't get any satisfaction from the authenticator, you sold it in good faith, and you might have to refinance your house or go belly up to reimburse him.
And what if that 100K item was an auction consignment, and the auctioneer goes back to the consignor who refuses under any circumstances to return all the money. Should everybody be whole except the dealer who will be out 100K? I think this is a complicated matter.
Last edited by barrysloate; 01-16-2012 at 08:13 AM.
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