Would you follow through and pay? Brady's last TD

[BobC]

Originally Posted by Aquarian Sports Cards

I have to follow my conscience and return the money. If my consignor wants to litigate that decision then all the arguments that have been advanced in this thread come into play, but between me and my consignor instead of me and my buyer. How was the item listed on the consignment contract? If it was listed as Tom Brady's final TD ball then I think I have a chance. If it was listed in some more nebulous fashion I feel like I'm at risk.

I will say if my company had the $500k (we don't) and it wouldn't cripple us, I would likely pay the consignor. On my scale I have done things like that in the past, it's just my scale is much smaller. Doesn't mean I haven't had to suck up a few that hurt, just that pain is relative. I would think one of the HUGE auction houses shelling out $500k isn't all that different than me shelling out a few grand. That being said I really don't know enough about Leland's to know if they could absorb that kind of hit, and would never presume to say everyone should do things the way I would.

I'd be curious to see if this would be covered by errors and omissions insurance. At the very least my insurance company would likely get involved in the litigation if it came to that, to prove this wasn't an error or omission but an unforeseeable event and back to the arguments we've all been having. I know I'd sure as hell file the claim to get them involved if it came down to it.

Thank you for the very interesting and straightforward answer, and I'd probably agree and do what you did. I guess one major question can be who comes up with and is responsible for the actual auction description. I assume the consignor tells the AH what the item is, but that is probably embellished a bit by the AH then, so responsibility may be a bit murky.

And thanks for bringing up the insurance aspect. I totally forgot about that. It is another reason to go with your Option #1 if your insurer is on board. You watch, if this Brady football case ends up costing some insurance company big money, don't be shocked if down the road you see something about policy changes or new requirements from your insurer because of this.

Tell you what, I hope you personally never have to face an issue like this one yourself.

And from what I was just reading in Steve's link to Leland's auction terms, I think they may be in a worse position than I ever would have expected. Can only imagine what their consignment agreement and terms look like.

[FrankWakefield]

The 30 day and 14 day differing due dates... that's a mess.

As to when it's binding, I'd say that's when a bidder bids.

When is the consignor bound, when he sends the lots to the auction house AND they agree to terms. After all, why do auction folks want you to send stuff to them up front... so the house can be sure of what it is and that the consignor actually has (read had) it.

It is a mess.

ONLY thing that comes to mind that could have compounded it... just imagine that PSA graded NFL footballs...

[JimC]

Has someone already asked what happens if it turns out the ball was deflated?

[Tabe]

Originally Posted by JimC

Has someone already asked what happens if it turns out the ball was deflated?

Why would it be?

[Steve D]

Originally Posted by Tabe

Why would it be?

Well, Brady did deflate its value (at least temporarily) with his un-retirement. Further proving that he does like deflated balls.


Steve

[steve B]

Originally Posted by Tabe

Why would it be?

To fit a medium flat rate box instead of a large one.

[Clutch-Hitter]

Don’t know if this is new information

https://www.dailymail.co.uk/tvshowbi...n-charity.html

[rjackson44]

Has Leland’s commented on this at all?

[BobC]

Originally Posted by Clutch-Hitter

Don’t know if this is new information

https://www.dailymail.co.uk/tvshowbi...n-charity.html

That is interesting Greg, and clearly shows Brady was well aware of the football being sold. It also brings into question Brady's motives and doing what he did in announcing his unretirement right after the auction closed. I had heard rumors there was speculation in some corners that Brady may have intentionally done the unretirement announcement to get back at the seller because he wouldn't return the football Mike Evans unfortunately threw into the stands. Have no proof or basis, just repeating rumors heard.

Such a seemingly generous offer to donate a Bitcoin in someone's name may not be what it seems, and could easily be a stunt to throw people off from looking at this retirement announcement as a form of retribution that was supposed to impact the seller, not the buyer. Just look at this thread, can easily see someone initially thinking that the timing of the announcement would give the buyer reason to cancel and back out of the purchase, to the seller's detriment. But the person doing so may not have realized that the buyer may legally still have to go through with the transaction. So possibly as a PR move they offer to donate a Bitcoin in the buyer's name to the charity of their choice.

So what, that doesn't do crap for the buyer, he's potentially still out close to $500K. The donation is only made in the buyer's name, so want to bet who's going to actually get credit on their tax return for the charitable donation? It just makes you wonder a little more if there was something else going on.

[BobC]

Originally Posted by FrankWakefield

The 30 day and 14 day differing due dates... that's a mess.

As to when it's binding, I'd say that's when a bidder bids.

When is the consignor bound, when he sends the lots to the auction house AND they agree to terms. After all, why do auction folks want you to send stuff to them up front... so the house can be sure of what it is and that the consignor actually has (read had) it.

It is a mess.

ONLY thing that comes to mind that could have compounded it... just imagine that PSA graded NFL footballs...

Good lord Frank, all we need now is a graded football, you're right, what a mess.

I still can't believe those auction terms include no mention of a bid being a binding contract. As I mentioned to Scott Russell, this Brady football debacle could get some AHs to maybe review and do a little updating to their terms and rules. LOL