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#1
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#2
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Nothing. But that’s a silly rabbit hole detail.
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#3
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I tend to look at things from a real estate perspective because that's the business I'm in.
If you offered me a property at a specific price and I agreed to that price but I didn't have to pay 1 cent to acquire the rights to that property but had the option to consummate the deal at a future date based on future value how is that not a win for me? |
#4
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When people bid in an auction with a 'respected' auction house, the implicit expectation is that it is an actual, legitimate auction and the cards will be sent to the winner. Instead of sending payment and getting the card, in most of these cases here a very rare and difficult card you can't just go get another of, they have been given an option on a contingency that probably won't transpire. This did not happen because of a last second problem, but because the auction house lied and continued to lie running a fake, fraudulent auction for items they do not have and cannot possibly deliver and they knew they could not deliver. What a bait and switch! |
#5
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Furthermore I would love to acquire no cost options on multiple cards in an auction. Last edited by Casey2296; 05-07-2024 at 11:19 PM. |
#6
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#7
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They own the cards they won in the auction and do not need to spend any money until they receive their cards, how is that not a collecting win?
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#8
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I think what they own is more in the nature of an option subject to a contingency, I don't think they own the cards, they haven't paid and indeed they are not obligated to pay under any circumstances.
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Net 54-- the discussion board where people resent discussions. ![]() My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ Last edited by Peter_Spaeth; 05-07-2024 at 09:50 PM. |
#9
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Which gives the high bidder all the power, No?
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#10
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It's a contingent contractual right, but realistically the contingency is unlikely to materialize.
__________________
Net 54-- the discussion board where people resent discussions. ![]() My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ |
#11
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Maybe, is there a chance these significant cards don't show up and end up in some Russian Oligarchs collection? Of course, but if they do show up the ownership provenance is ironclad.
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#12
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If the thief is sophisticated, or passes the cards along to someone sophisticated, they'll show up in different slabs (or raw), perhaps slightly damaged to avoid detection, etc. etc. I would not say ironclad.
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Net 54-- the discussion board where people resent discussions. ![]() My avatar is a sketch by my son who is an art school graduate. Some of his sketches and paintings are at https://www.jamesspaethartwork.com/ Last edited by Peter_Spaeth; 05-07-2024 at 10:03 PM. |
#13
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So far this discussion has mainly been focused on establishing value, for insurance purposes and to make everybody whole (after it's determined where liability lies.)
Here's a hypothetical: Since the cards were mailed from out of state, and it's a large sum, suppose the FBI is, indeed, running the investigation. Maybe it was THEIR idea to run the auction as though nothing had happened. If it wasn't public knowledge that cards were stolen, and more importantly, exactly which ones, maybe it was an FBI-initiated "sting" operation to try to identify unusual bidding behavior. For example, some person, or group, bidding up only the stolen cards, to inflate their perceived value. Or, hoping some bidder might somehow reveal knowledge unknown to the public, like asking unusual questions, etc. IF this is generally what happened, then I would have to change my mind and say that ML did the right thing in working with law enforcement to solve the crime. Another package was tampered with, but not taken. I wonder if fingerprints were obtained that could be cross-checked against employees or others with access to the package. Maybe this is the reason for their stated "optimism." So... If it was done to establish value, I think that was wrong. If it was a key part of the investigation, under direction of law enforcement, I would unquestionably change my mind completely. |
#14
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If the insurance company does pull through and magically pays out on this rather dicey claim, then they would become the owners of the cards should they ever surface.
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If it's not perfectly centered, I probably don't want it. |
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This is perhaps one of the most interesting things to me, but again this is assuming a lot. I have no dog in this race, I'm a lower level collector that makes less in a year than some of these cards go for in an auction. All that being said the only way I would think the Insurance company would pay out, correct me if I'm wrong, is if there was next to zero chance of the cards being recovered. If they suddenly are what exactly happens to them? I doubt the insurance company wants a bunch of old pre-war cards. Do they auction them off?
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#17
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Auction law is weird, the situation is weirder, lawyers could get rich off of this kind of weirdness.
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Check out https://www.thecollectorconnection.com Always looking for consignments 717.327.8915 We sell your less expensive pre-war cards individually instead of in bulk lots to make YOU the most money possible! and Facebook: https://www.facebook.com/thecollectorconnectionauctions |
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