Quote:
Originally Posted by vintagetoppsguy
I guess it depends on what they reimburse him for. It is my understanding that Donovan was the sumbitter of the item. If that is the case, they would only have to reimburse him for the authentication fees. Legally the cut would still be his. I guess they would have the option to buy it back at fair market value, but if they're only reimbursing him the authentication fees then the cut is still his.
If he were to have purchased the cut already authenticated and then sent it back in for re-evalution, then that is a different story. Then they would have to reimburse him full fair market value. At least that's my understanding of how it works.
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If he was the buyer of the cut that was already slabbed, they wouldn't HAVE to do anything. They have no fast and hard rules regarding buybacks. It's up to their discretion based upon how much bad publicity they might want to receive or avoid on any one item.
They have a disclaimer saying their loa's are only their opinion, and no warranty is given, and they make no guarantee. That gets them out of any of these situations and any money given to anyone is voluntary on their part.
I would be surprised if they gave him the cut back and didn't buy it from him. maybe that is why it is being destroyed immediately, so we can't see it first.
I want to see it when it comes back.