Heritage Live Auction -- Black Swamp debacle

[David R]

Originally Posted by Matthew H

How is "this is the only high grade example" truthful here? There were 700 high grade examples found. They could've stretched the truth by saying "This is the only highly graded example" if they only graded one in the find. Thankfully, since they weren't "in" the hobby, the odds of them being scumbags was lower then we're used too.

"this is the only highly graded example" was my example of an affirmative statement that would be untruthful when selling these cards and could be considered fraudulent. But if the seller doesn't make any untruthful statements about the cards and doesn't answer any questions untruthfully, there is absolutely no affirmative duty to disclose to a buyer that you have a lot of other high grade examples of the card you are selling.

We are talking about an arms length transaction between two third parties. There is no special relationship between the buyer and seller that would give rise to any affirmative duties of disclosure as far as I am aware.