Latest development in Shanus v. REA

[travrosty]

Originally Posted by byrone

Homer Simpson and lawyer Lionel Hutz

Homer: "All you can eat--hah!"
Hutz: "Mr. Simpson, this is the most blatant case of fraudulent advertising since my suit against the film, “The Never-Ending Story.”
Homer: "Do you think I have a case?"
Hutz: "Now, Homer, I don't use the term “hero” very often. But you are the greatest hero in American history."

ha-ha.



mrs. simpson, where did your family go after you left the all you can eat seafood place?



we went fishing.


ladies and gentlemen, does this sound like someone who had all they can eat?

[Deertick]

Seems to me that in order to claim $500K in damages, they would have to show a net decrease in YOY sales of sheet music AND that it was directly attributible to the post cited.
As for ""claims to have expended time in connection with efforts at "watching the bid process to detect shill bidding by Shanus' cohorts," which "translates to money."", isn't that what they should be doing all the time, every time?

[WhenItWasAHobby]

Again, here's the quote that's in question:

In the recent REA auction, for example, the sheet musics entitled the Live Oak Polka and the Home Run Quick Step did abysmally, selling for a small fraction of what they transacted for in the past. For those who collect that sort of thing, those sheet musics represent the pinnacle of 19th century chromolithography. They are quite rare and the particular pieces offered by REA were in exceptionally good condition for the issue.

One could also just as easily argue that Mr. Shanus alerted the public of the undervalued bargains of rare, quality items on REA's auctions, which therefore added interest to REA's future business which would thereby increase their profits.

[oldjudge]

This is a quote from the REA summary of the 2011 auction:

Watchung, New Jersey. The strength of the high-end baseball card and memorabilia market amazed collectors at Robert Edward’s record-setting May 7, 2011 auction. An astounding 179 lots sold for $10,000 or more. Collectors, dealers, and market watchers look to REA’s annual event as the key barometer of the health of the market and the most important auction event of the year. According to REA president Robert Lifson, “The market was extremely strong. If everything went perfect we were expecting the total to be maybe $7 million to $8 million. The results came in at $9.5 million.

Sounds like things went pretty well.

[WhenItWasAHobby]

Originally Posted by oldjudge

This is a quote from the REA summary of the 2011 auction:

Watchung, New Jersey. The strength of the high-end baseball card and memorabilia market amazed collectors at Robert Edward’s record-setting May 7, 2011 auction. An astounding 179 lots sold for $10,000 or more. Collectors, dealers, and market watchers look to REA’s annual event as the key barometer of the health of the market and the most important auction event of the year. According to REA president Robert Lifson, “The market was extremely strong. If everything went perfect we were expecting the total to be maybe $7 million to $8 million. The results came in at $9.5 million.

Sounds like things went pretty well.

Thanks for posting that oldjudge.

I'd love to hear how REA explains their damages after claiming better than "perfect" results. If this auction was on a card grading scale it would have gotten a PSA 12 or an SGC 120 (Super Ultra Pristine).

[Peter_Spaeth]

What REA would say is that while the items consigned to it went higher than expected, it was hurt because it should have received additional consignments. That said, as stated previously, my opinion is that on its face the post is not libelous, and that even if it were, REA would have a difficult time proving a connection between the statement and any loss of consignments to its auction a year later. EDIT TO ADD If the counterclaim survives Corey's motion to dismiss, these matters will be probed during discovery.

[CW]

Originally Posted by WhenItWasAHobby

Again, here's the quote that's in question:

In the recent REA auction, for example, the sheet musics entitled the Live Oak Polka and the Home Run Quick Step did abysmally, selling for a small fraction of what they transacted for in the past. For those who collect that sort of thing, those sheet musics represent the pinnacle of 19th century chromolithography. They are quite rare and the particular pieces offered by REA were in exceptionally good condition for the issue.

One could also just as easily argue that Mr. Shanus alerted the public of the undervalued bargains of rare, quality items on REA's auctions, which therefore added interest to REA's future business which would increase thereby their profits.

I agree. Also, the bolded part, while it does mention REA, is simply a statement of fact. No real opinion of REA was given, nor was any blame applied to the auction house. Perhaps the term "abysmally" was a bit over the top, but that's hardly worthy of a lawsuit.

There obviously must be more to this (ie. the accused shilling), but just based on the forum post I am amazed this has gotten this far.

I would make a negative comment about lawyers right about now, but I don't want to piss off half the members on this board.


€hû¢k Wölƒƒ

[Bosox Blair]

Originally Posted by CW

...but that's hardly worthy of a lawsuit.

There obviously must be more to this (ie. the accused shilling), but just based on the forum post I am amazed this has gotten this far.


€hû¢k Wölƒƒ

Chuck,

This is not the lawsuit...this is the Counterclaim. Shanus sued REA. REA defended and filed a Counterclaim. Standard stuff.

[CW]

Originally Posted by Bosox Blair

Chuck,

This is not the lawsuit...this is the Counterclaim. Shanus sued REA. REA defended and filed a Counterclaim. Standard stuff.

Ah, I see. Every time I see x vs. y, I think lawsuit. Thanks for clearing that up.

[Peter_Spaeth]

A counterclaim is a lawsuit.