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#1
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Bruce Dorskind
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#2
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: JimCrandell
Bruce, |
#3
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: barrysloate
They are doing the right thing and should be commended. |
#4
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Jay
I always had complete faith in Mastro so, for me, this was unnecessary. However, I think it sets a good example for other auction houses to follow. |
#5
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: John Basilone
The new policy definitely puts pressure (internal or external) on the "one" person in the company who has access to all of the bids. Ideally, it would be nice to see a "whistle blower" protection program in place to protect said individual against possible legal action. |
#6
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: rand
doug will respond to any issues |
#7
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: shane leonard
this is good. |
#8
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Jeff Lichtman
You can wrap your fish with a Memory Lane Code of Ethics. |
#9
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Brian
"Perhaps. our hobby, has finally matured to the point, where all of the partiipants |
#10
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Bob C
This is the exact reason I am not comfortable with this auction house...allowing employees to bid, perhaps even on their own items, then using Christies and Sotheby's, two companies that have had legal problems with shill bidding etc. in the past, as examples of other companies with similar practices. I am sorry but this is not the way to provide confidence or win trust from my point of view. I will say it is better that they identify which items are owned by Mastro or its employee's. |
#11
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: David Davis
Doug Allen's e-mail indicates that they were not able to include their code of ethics for the October auction, so it will begin with their December auction. Why not just include the disclosure of ownership, etc., in an e-mail for the October auction? |
#12
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: JimB
"I am not comfortable with this auction house...allowing employees to bid, perhaps even on their own items" |
#13
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: E, Daniel
though Jeff is right about the vanished bidding records of previous auctions. |
#14
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: rand
Why on earth would Mastro destroy bidding records after each auction? Gee, I wonder why? |
#15
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Jeff Lichtman
Jim -- they've basically admitted that they destroy bidding records once an auction is over. That is a bad, bad thing. So going forward they will be more - but not totally - transparent. That's a good thing but not so good as to ameliorate concern over past destruction of bidding records which would, coincidentally, erase evidence of shill bidding. |
#16
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Cobby33
We believe that one doesn't need a Code of Ethics when all that is required is following the law and good business practices. |
#17
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Jeff Lichtman
Cobby, did you just post Memory Lane's Code of Ethics? |
#18
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: rand brotman
Jeff, take a look at the post i just placed, this is interesting |
#19
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Joe D.
good one jeff. |
#20
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: David R
I think this is a good and positive development -- honesty, transparency and integrity are good things. But, absent fraud or misrepresentation, I guess I don't fully appreciate why this is as big an issue as others seem to think. The folks who bid on these items (including those on this board) are presumably as knowledgeable and expert as anyone about what is being offered and what it's worth. As long as the description and photos are fair and accurate and everyone has full knowledge of exactly what's for sale, it seems to me that each bidder can decide how much they are willing to pay. If the price goes higher, for whatever reason, then you don't buy it if you don't think the item is worth the price. If you think the item is worth the price, then you buy it. |
#21
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: John Basilone
Um..this audit is going to take some time. |
#22
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: leon
First of all I think this a positive step Mastro Auctions has put forward. |
#23
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: leon
Hey Joseph- you are unfortunately in this boat for anonymity. Please edit out all of your posts or put your name out here....thanks again... |
#24
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Aaron M.
Most of this is a step in the right direction and welcome (if long overdue) change, but man, does Jeff have a point about bidding records. |
#25
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: JimB
When did Mastro say they destroyed bidding records? People seem to be presuming or inferring things that just are not there. I seriously doubt they don't know the bidding records of everybody who has bid in their auctions since they have been doing them online (and probably before). |
#26
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Jeff Lichtman
"Effective for auctions held in 2007, all Mastro Auctions bidding records are maintained into perpetuity." |
#27
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: JimB
Jeff, |
#28
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: rand brotman
doug will listen to anyone with any issues |
#29
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Jeff Lichtman
"One thing I discussed with the FBI is the fact that during discovery, Mastro could produce no records about the lot," Daniels said. "They could not produce records about who the runnerup was or whether there were even any other bidders." |
#30
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: JimB
Rand, |
#31
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Gary Weatherhead
Obviously this is something to be considered as an attempt to enhance the integrity of a section of our hobby. If it is the result of an alternative dispute resolution or settlement, it is still a step in the right direction as regards consumer protection. |
#32
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: jay behrens
I find this statement laughable "...taking a leadership role..." They are still lightyears behind REA in this area. |
#33
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Harry Wallace (HW)
Bob C, |
#34
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: jay behrens
Do google search for Sotheby's and law suits. They have been found guilty of price rigging, shill bidding and other things. I used to have the link, but lost it when I built this new computer |
#35
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: rand brotman
Jim, your 2 posts clearly show your opinion, defending Mastro and you stated for Jeff to call mastro. |
#36
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: JimB
I guess it should not suprise me that those who impute implications into other's statements will do so with mine as well. All I can say is: Read the words I actually wrote. They deal only with facts and are absolutely neutral in tone. I said I did not take Mastro's statement to mean any more than the words stated. I said that I did not believe they do not have bidding records for previous auctions. I do not see those statements as either supporting or denigrating Mastro Auctions. |
#37
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Jeff Lichtman
Jim, are we still debating this issue? You wrote that you doubt that Mastro does not have the bidding records of all of its bidders in all of its prior auctions -- and yet their language in their latest Code of Ethics as well as discovery in a civil lawsuit suggests otherwise. Can you at least appreciate that your words on this thread are a bit puzzling? |
#38
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: JimB
Jeff, |
#39
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: rand brotman
Nice duck, but your comments are confusing. |
#40
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Joann
I think it's a positive step even if it might not close every loophole. It's still progress. |
#41
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: JimB
Rand, |
#42
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: GaryM
There is nothing in the language of the release that says that records have been destroyed. They are almost certainly just saying that they will be continuing to save all bidding records in the future just as they have in the past. This is very positive and should be applauded. |
#43
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: Jeff Lichtman
Gary, your interpretation is wrong. Did you not read the above quote about Mastro's retention of bidding records in a recent lawsuit? |
#44
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: GaryM
Never mind |
#45
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: jay behrens
....said Emily Lutella |
#46
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Why All Auction Houses Should Publish A Code of Ethics
Posted By: David Davis
Has anyone else noticed that Mastro no longer lists Lou Lampson as one of their authenticators on their website? The still list Mears though. Does this mean they have agreed to the terms and conditions laid out by MEARS as discussed in a separate thread? |
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