Legendary's auction that ended last night

[rainier2004]

Originally Posted by Publius

Why anyone would bid or consign to Legendary at this point is beyond me.

You bid and win, send them your money,they cash it and go out of business, Feds seize the assets and you get ten cents on the dollar.

You consign something nice and, well see above

Why gamble with your money and collection on a company that could be gone any day now and take your stuff or money with it, when there are so many other options?

Too risky, that is a sinking ship I got off of a long long time ago.

Yup...

[keithsky]

I personally wouldn't consign to Legendary not knowing what will happen with the company. I would like to know if there is any consignors on this board that do consign with Legendary and what your thinking is on why you do. Just curious. Don't need guys blasting anyone why they do just what the draw to Legendary is over another company since there seems to be such a risk. Anyone willing to admit they do and there views on it and please guys don't jump on anyone that does.

[BeanTown]

Originally Posted by keithsky

I personally wouldn't consign to Legendary not knowing what will happen with the company. I would like to know if there is any consignors on this board that do consign with Legendary and what your thinking is on why you do. Just curious. Don't need guys blasting anyone why they do just what the draw to Legendary is over another company since there seems to be such a risk. Anyone willing to admit they do and there views on it and please guys don't jump on anyone that does.

Keith, Ill take the bait. Lol. What many consignors look for is protection (reserves) on high end lots. It wasnt until recently in the last 5 years that AHs common advertised reserves and it became a thing of the norm. Plus, the sellers commissions has dropped from paying 15 percent to where you recieve 10 percent back. But the biggest thing that any consignor should look at is the companies mailing list. I believe all the long running AHs have the simular lists. Heritage would be the exception as they would have a great cross over list with all the other collectible auctions they run.

Another big thing to think about when consigning to an AH is trust... Trust that they say they will do what they said they would at the time you gave them your consignments. Most AHs now have detailed contracts and are pretty good following thru on their promises. This can not be said 5 years ago or later on some AHs in the business.

[Leon]

Originally Posted by BeanTown

Keith, Ill take the bait. Lol. What many consignors look for is protection (reserves) on high end lots. It wasnt until recently in the last 5 years that AHs common advertised reserves and it became a thing of the norm. Plus, the sellers commissions has dropped from paying 15 percent to where you recieve 10 percent back. But the biggest thing that any consignor should look at is the companies mailing list. I believe all the long running AHs have the simular lists. Heritage would be the exception as they would have a great cross over list with all the other collectible auctions they run.

Another big thing to think about when consigning to an AH is trust... Trust that they say they will do what they said they would at the time you gave them your consignments. Most AHs now have detailed contracts and are pretty good following thru on their promises. This can not be said 5 years ago or later on some AHs in the business.

As long as everything is transparent things are usually ok. It's when people/companies say one thing and do another, they tend to have issues.

[pawpawdiv9]

Wow, i didnt know any of this stuff. I won 1 lot - my 1st Cobb (which i posted in Feb p/ups)

[calvindog]

Originally Posted by BeanTown

Another big thing to think about when consigning to an AH is trust... Trust that they say they will do what they said they would at the time you gave them your consignments. Most AHs now have detailed contracts and are pretty good following thru on their promises. This can not be said 5 years ago or later on some AHs in the business.

Again, as per a federal indictment to which Doug Allen pleaded guilty and to which you testified in the grand jury, you and he conspired to shill bid up your lots you consigned to Mastro. Leon asked me not to hound you about your fraud and I won't -- but I don't think it's appropriate for you to discuss these issues and lie. Your written contract with Mastro surely did not say that Doug would bid for you in order to artificially inflate the price of your lots. His exact comment to you in an email was part of the indictment in which he was charged with fraud. Your "trust" with Doug about your consignments was a fraudulent, criminal understanding.

Maybe you and he trusted each other but the people who were ripped off obviously weren't part of that "trust."

[Peter_Spaeth]

..

[turtleguy64]

you just hit one out of the park with your post.Thanks.my advice to Legendary: close it up.it's over.the trust bond was broken long ago.The Osers left with some dignity intact.You have to know when to fold 'em(thanks Kenny Rogers ).

[BeanTown]

Hey Jeff Litchman. Why dont you just STFU!!!! You think you know the facts and you might be an expert debater. But you DONT!! I know your personality type well ! You have some facts and you try to fill in the blanks. You try to stir up strife and conflict when its not there.

Fact.. You never saw cell text records and I dont agree with everything that Doug did 5-7 years ago. You never saw contracts either. Plus, you were never apart of any meetings I had along with other consignors that I know of. So, jeff Litchman Im asking you to stop badgering me publically. I have read how your ethics have been brought into question in New York. Have you ever been investigated for ethics Jeff Litchman???? I have read that you accepted 150k cash from known people involved with illegal drugs. Im sure you reported that on your taxes as I read you filled out proper forms.

I could try to fill in theblanks on many things I read about you Jeff Litchman but I don't. I actually could care less and won't stoop to your level. I have left a message for you at your office and privately thru this board to fall upon def ears. So, Im asking you now to stop implying anything that has to do with me and consigning to any auction company. You have been hounding me for a month now and you need pound sand and STFU! Im sure there are laws about badgering people as you might know about? Plus being a social figure in New York you might want to tone it down on a public board.

Originally Posted by calvindog

Again, as per a federal indictment to which Doug Allen pleaded guilty and to which you testified in the grand jury, you and he conspired to shill bid up your lots you consigned to Mastro. Leon asked me not to hound you about your fraud and I won't -- but I don't think it's appropriate for you to discuss these issues and lie. Your written contract with Mastro surely did not say that Doug would bid for you in order to artificially inflate the price of your lots. His exact comment to you in an email was part of the indictment in which he was charged with fraud. Your "trust" with Doug about your consignments was a fraudulent, criminal understanding.

Maybe you and he trusted each other but the people who were ripped off obviously weren't part of that "trust."

[calvindog]

Originally Posted by BeanTown

Hey Jeff Litchman. Why dont you just STFU!!!! You think you know the facts and you might be an expert debater. But you DONT!! I know your personality type well ! You have some facts and you try to fill in the blanks. You try to stir up strife and conflict when its not there.

Fact.. You never saw cell text records and I dont agree with everything that Doug did 5-7 years ago. You never saw contracts either. Plus, you were never apart of any meetings I had along with other consignors that I know of. So, jeff Litchman Im asking you to stop badgering me publically. I have read how your ethics have been brought into question in New York. Have you ever been investigated for ethics Jeff Litchman???? I have read that you accepted 150k cash from known people involved with illegal drugs. Im sure you reported that on your taxes as I read you filled out proper forms.

I could try to fill in theblanks on many things I read about you Jeff Litchman but I don't. I actually could care less and won't stoop to your level. I have left a message for you at your office and privately thru this board to fall upon def ears. So, Im asking you now to stop implying anything that has to do with me and consigning to any auction company. You have been hounding me for a month now and you need pound sand and STFU! Im sure there are laws about badgering people as you might know about? Plus being a social figure in New York you might want to tone it down on a public board.

JC, I'm allowed to accept cash from clients and I do so legally and ethically -- and I filled out the proper tax forms when receiving cash. Clearly your reading comprehension is as good as your ability to follow federal laws when consigning your cards to Mastro, i.e. not very good. Unlike you, I've never had to confess fraud to federal agents. Unlike you, I've never made as a condition of consigning my cards a promise from the auction house to let me shill bid my own lots.

And If you think that a scumbag fraudster like you -- who testified in the grand jury about the fraud you committed with Doug Allen -- is going to intimidate me you're dumber than your spelling would imply.

[Peter_Spaeth]

Are def ears what people get from listening to too much Def Leppard?

[tiger8mush]

Originally Posted by BeanTown

But the biggest thing that any consignor should look at is the companies mailing list.

How do you see an AH's mailing list?

[BeanTown]

Originally Posted by tiger8mush

How do you see an AH's mailing list?

I would ask them how many people they mail out catalogs to. It would not surprise me if AHs sold their lists.