Should auction houses honor all items that accompany their own LOA?

[drcy]

I notice that my answers to your questions involve me repeating what I said in the first place.

The foolishness isn't that there's a margin of error, but when people treat, say, 95% accuracy as 100%.

[Stampsfan]

I have to tell you about my recent (and only) experience with Heritage, and their LOA's. In the early November 2015 auction, I consigned two pieces. One was a Jerry Rice 49er game worn jersey from the mid 90's, and the second was an Andres Galarraga Expos uniform (jersey and pants) from 1987. The Rice jersey came with an LOA from Carmen Policy, and the Galarraga jersey had his signature on the Expos logo on the front of the jersey. I'd had both pieces for years.

When the listings were done, there was an additional LOA from HA on the Rice gamer, and another LOA from HA on the signature of the Galarraga. At that time, I naively thought "Wow, what a nice touch to add an HA LOA to each piece."

When I finally got my check for the lots (at the end of December), there was a charge for each of the LOA's totaling (if I recall) $250. I was pretty pi$$ed. To me, the $100 for the Galarraga signature verification did nothing to add to the credibility or increasing the bid total. As for the Rice gamer, the LOA from Carmen Policy on 49er stationary provided credibility far outweighing any LOA Heritage could provide. That piece cost me $150.

I felt ripped off, as I was not asked if I wanted Heritage LOA's, nor was I informed there would be a charge when they produced them.

To me, it was an excuse to keep an additional $250 from the sale of the items, without running it my me prior.

[SyrNy1960]

First, let me start by saying that I have no desire to personally attack anyone. I just want to share my own personal positive and negative experiences with the collecting community, while also getting others opinions on it. And as we all can see by the responses in many posts, there are many differences of opinion, which is ok.

I do have to say that I have never personally been involved with any auction house, as I have read and heard just too many negative experiences for me to want to get involved (yes, I am aware that there are many positive and good experiences too). In addition, I just can’t get past having to pay the ridiculous “buyer’s fee” and other additional ridiculous charges. To be honest, for those having to pay the Auction Houses fees, the Auction Houses should go above and beyond to ensure the items they sell are legit, especially when they are putting their name on it (Auction House LOA)! Let’s be real. They know those letters help in the sale of their items and they know many collectors want those LOA’s for security reasons, as collectors believe it proves the item is authentic (well, maybe not for the seasoned collector).

With that being said, I’m not someone known in the hobby. I don’t rub elbows with the big boys. Actually, I was a private collector of 30 years, before finding GAMEUSEDUNIVERSE 10 years ago. My first experience with any online forum.

As stated above, there are many differences of opinions, which is ok. However, I believe that in the scenarios I provided in this post, both items were auctioned and sold by the Auction Houses with their own LOA (Again, major conflict of interest). They are, without question, 100% accountable and responsible for the sale of that item, if proven later to be fake or not authentic; no matter how many years have passed. However, I think when the item changes hands multiple times over the years, and say buyer #5 finds the item is fake or not legit; it then can become somewhat complicated, as prices for the sale of the item between previous buyers could vary. Maybe at that point, the Auction House should pay buyer #5 what he paid for the item (providing proof of purchased of course) and leave it at that.

My issue with Auction House A is that I provided them solid proof from the player himself via Steiner, that the item was not used by him (Sent the item to Steiner to be authenticated by the player). A hand written name was found on the item during the authentication process at Steiner, which was not the player. After providing the proof, and numerous telephone calls and emails with Auction House A, they stated that the item was received from someone overseas, who they still believe is a reliable source, so they auctioned it with their LOA, and they still stand behind their source, even after I provided them solid proof from the player himself.

So let's recap: Auction House A receives item from a reliable source (which was proven not so reliable) overseas; Auction House A puts their own LOA on it; Auction House A sells the item; Player said they didn't use the item; another persons name is found on the item; Auction House A is provided this information; Auction House A still stands behind their overseas source and the item.

The right thing to do is what Auction House B did. We throw around words like Honesty, Integrity, and Ethics. When it comes to the all mighty dollar, those words seem to get smaller and smaller. I get so annoyed watching bad people defend bad people. But even more, it makes me sick to watch good people defend bad people. I’m not naïve. I realize we don’t live in a perfect world.

I’m not looking for anything from Auction House A. Just sharing my experience. I don’t think myself or anyone else reading this needs to hear an explanation on why what occurred. The answer is a simple one - $$$$

[packs]

No AH has to issue an LOA. So to me if they choose to issue one with their company name on it, that should be honored.

[SyrNy1960]

I would like to close this out with my goal here wasn't to trash Auction House A or anyone specific within the organization. I'm sure they did a lot of good things. This was my one time experience with them, which I thought was important to share, as many discuss issues with Auction House LOA's. This was more about Auction Houses LOA's and where does the accountability fall if an item is proven fake or not legit. I really hoped some Auction House people would have chimed in to maybe give their thoughts about it. With that being said, I'm out! Happy Collecting! Thanks!

[dhernandez]

If a AH writes a LOA for a specific item I fully agree in the argument that the LOA is binding. Those AHs which hire in-house writers are generating rubber stamp pieces of toilet paper by the masses. They make Lou Lampson look like Hemingway. Dave M. has been rubber stamping for years. At this point that company can save on $$ by buying Charmin vs high quality print paper to print Dave's pro assessments.

[dhernandez]

In addition I highly doubt Dave M. actually physically inspects each and every item. Every LOA says the same BS. Baseball is actually Dave M's forte and I for one am skeptical of Dave's all around knowledge of other team sports jersey authentication. Dave M has sold out for the buck but the ironic thing is his name actually devalues an item vs adding value (ala Lampson letters). Does not take much to fill in the lines on the same repetitive gibberish over and over. Hell even a monkey could do it.

[WindyCityGameUsed]

Originally Posted by dhernandez

If a AH writes a LOA for a specific item I fully agree in the argument that the LOA is binding. Those AHs which hire in-house writers are generating rubber stamp pieces of toilet paper by the masses. They make Lou Lampson look like Hemingway. Dave M. has been rubber stamping for years. At this point that company can save on $$ by buying Charmin vs high quality print paper to print Dave's pro assessments.

Another spot on post David!!

I think this picture sums things up rather nicely

[SyrNy1960]

Originally Posted by dhernandez

If a AH writes a LOA for a specific item I fully agree in the argument that the LOA is binding. Those AHs which hire in-house writers are generating rubber stamp pieces of toilet paper by the masses. They make Lou Lampson look like Hemingway. Dave M. has been rubber stamping for years. At this point that company can save on $$ by buying Charmin vs high quality print paper to print Dave's pro assessments.

One has to wonder just how much stuff in collections are truly legit. Truly sad!