Memory Lane sold cards they didn't have per SCD

[Aquarian Sports Cards]

Originally Posted by parkplace33

Scott, appreciate your insight. Since you are the only AH to comment on this thread, what would you have done if consignments in an upcoming auction were stolen?

I do want to avoid making comments that seem critical of other companies, ESPECIALLY not knowing all the details.

I can say that I have always personally traveled with consignments that are going to shows. Of course in my case that is, to date, larger amounts of lower value items than the ones in question. I've brought maybe half a million in consignments to the National, but it was a helluva lot more than 50 cards!

Of course just because I am with the items doesn't mean they couldn't be stolen, but most of what we sell has pretty easily established value unlike many of the items in the ML situation. So I doubt we'd "need" to let them continue at auction to come up with an accurate settlement. Even so I would obviously comply with whatever path my insurance company wanted me to take.

My preference would be to pull the items but if my insurance company (or lawyer or law enforcement) requested I do otherwise, I imagine I would do what ML is doing.

Our travel/transport rider is 600k I am sure ML's is significantly higher. When insurance companies have to start paying on bigger claims they call a lot of the shots. They are likely also involved in the investigation of the crime. They'd rather it be solved and resolved than paid.

There are no winners in a situation like this and I'm sure ML is trying prevent as many people as possible from feeling like they're on the losing end.

I don't personally know anyone at ML so anything I say is conjecture and shouldn't be taken as me having inside information.