Memory Lane sold cards they didn't have per SCD

[brunswickreeves]

This is devastating, but only a matter of time until investigators work their way to the culprit and the cards are recovered.

I wonder if parties involved are thinking….

[Johnny630]

The Con goes on and on…..

[parkplace33]

I’m sorry for Ryan and for the collectors who thought they won these cards, but I am flabbergasted that ML decided to still run the auction with these cards in it. It’s not a good look for the hobby at all. I expect to see changes in the future.

[Carter08]

Bad karma from the Goudey Gehrig situation?

[SyrNy1960]

Originally Posted by parkplace33

I’m sorry for Ryan and for the collectors who thought they won these cards, but I am flabbergasted that ML decided to still run the auction with these cards in it. It’s not a good look for the hobby at all. I expect to see changes in the future.

Truly sad this happened. The moment it was known the cards were stolen, the auctions should have ended, so bidders could have focused their money on other cards they may have been interested in. If and when the cards were recovered, the cards could have been listed in a future auction.

And the end of the day, this sucks for everyone involved.

[Leon]

Originally Posted by Johnny630

The Con goes on and on…..

What does that mean? There is no con. ML had to do what they had to do and no doubt they took advice from counsel as well as others. There is a possiblity of the cards being recovered. It sucks for everyone involved. Hopefully, the cards will eventually be returned. Most of our pre war cards are like fingerprints, so there is a possibilty......
.

[4815162342]

Originally Posted by Leon

What does that mean? There is no con. ML had to do what they had to do and no doubt they took advice from counsel as well as others. There is a possiblity of the cards being recovered. It sucks for everyone involved. Hopefully, the cards will eventually be returned. Most of our pre war cards are like fingerprints, so there is a possibilty......
.

+1

[jacksons]

As a consignor, are you given the option of having your card(s) not included in a card show display case? Wonder where this is in the fine print of the consignor agreement. I would expect my consignment to be in a vault.

[Aquarian Sports Cards]

Originally Posted by jacksons

As a consignor, are you given the option of having your card(s) not included in a card show display case? Wonder where this is in the fine print of the consignor agreement. I would expect my consignment to be in a vault.

Tough call, you also want the auction to be promoting your items right?

[Rhotchkiss]

Originally Posted by Leon

What does that mean? There is no con. ML had to do what they had to do and no doubt they took advice from counsel as well as others. There is a possiblity of the cards being recovered. It sucks for everyone involved. Hopefully, the cards will eventually be returned. Most of our pre war cards are like fingerprints, so there is a possibilty......
.

+2 (coming from the consignor with the most to lose and a bidder who won a very rare and expensive card that will almost certainly not come up again for sale for many years).

The people most impacted understand and are satisfied with how ML is handing it. The situation sucks and is unfortunate, but there is no perfect answer. That said, I am sure that ML proceeded on the advice of counsel, the insurance company, the cops, etc.

[Mark17]

Originally Posted by Rhotchkiss

+2 (coming from the consignor with the most to lose and a bidder who won a very rare and expensive card that will almost certainly not come up again for sale for many years).

The people most impacted understand and are satisfied with how ML is handing it. The situation sucks and is unfortunate, but there is no perfect answer. That said, I am sure that ML proceeded on the advice of counsel, the insurance company, the cops, etc.

Hypothetical: A collector's prize card is a rare Old Judge, of a player who was his great-grandfather, that's almost never seen. An upcoming auction has an example of the same card, but in much better condition. The collector, to raise needed funds, sells his example, figuring that'll cover part of his anticipated upgrade.

The auction ends, the collector is thrilled because he's won and upgraded his prized card, but then the AH sends him and email, and SURPRISE!

"We didn't actually have the card we just auctioned and pretended to sell to you. We did it because we, for our own purposes, just wanted to see how high you would bid..."

But, hey, the collector is no worse off than before the auction, right? Except he no longer has his best, prized card.

[Leon]

When a catastrophe happens there are unintended victims. As a business, or a person with a conscience, you do the best thing at the time. The auction was handled correctly given all of the circumstances.

Originally Posted by Mark17

Hypothetical: A collector's prize card is a rare Old Judge, of a player who was his great-grandfather, that's almost never seen. An upcoming auction has an example of the same card, but in much better condition. The collector, to raise needed funds, sells his example, figuring that'll cover part of his anticipated upgrade.

The auction ends, the collector is thrilled because he's won and upgraded his prized card, but then the AH sends him and email, and SURPRISE!

"We didn't actually have the card we just auctioned and pretended to sell to you. We did it because we, for our own purposes, just wanted to see how high you would bid..."

But, hey, the collector is no worse off than before the auction, right? Except he no longer has his best, prized card.

[Carter08]

Originally Posted by Leon

When a catastrophe happens there are unintended victims. As a business, or a person with a conscious, you do the best thing at the time. The auction was handled correctly given all of the circumstances.

I think it’s more than fair to question whether sending the package the way they did and continuing an auction of items they no longer had without saying a word are the best things.

[Mark17]

Originally Posted by Leon

When a catastrophe happens there are unintended victims. As a business, or a person with a conscience, you do the best thing at the time. The auction was handled correctly given all of the circumstances.

I can't see how auctioning off cards you don't have can be either legal or ethical.

[Rhotchkiss]

Originally Posted by Mark17

Hypothetical: A collector's prize card is a rare Old Judge, of a player who was his great-grandfather, that's almost never seen. An upcoming auction has an example of the same card, but in much better condition. The collector, to raise needed funds, sells his example, figuring that'll cover part of his anticipated upgrade.

The auction ends, the collector is thrilled because he's won and upgraded his prized card, but then the AH sends him and email, and SURPRISE!

"We didn't actually have the card we just auctioned and pretended to sell to you. We did it because we, for our own purposes, just wanted to see how high you would bid..."

But, hey, the collector is no worse off than before the auction, right? Except he no longer has his best, prized card.

But this is not what happened. Also, there is a real expectation that the cards will be found and they will have the cards. Finally, regarding your hypo, what if the guy sold the card in anticipation of winning the other but was outbid and did not win it. Nobody made the guy sell his existing card BEFORE he wins the other card. That's on him.

I fully agree with Leon: "there are unintended victims. As a business, or a person with a conscious, you do the best thing at the time. The auction was handled correctly given all of the circumstances."

The situation blows. Plain and simple. There are no winners. You do the best you can under the circumstances, and, as any smart business would do, you follow the advice of counsel, the insurance company, and the police investing the case, all of whom (from what I have been told) said to run the auction.

Its a good question as to why the cards were not held at Fedex, but instead delivered to the hotel. My gut is that its because valuable cards have been sent to their end destinations a zillion times without incident, so there was no reason (until now), to change the practice. I bet going forward, AHs will send cards (if at all) to be held by FedEx/UPS for employee pickup. But there is no reason to change the way something has always been done until a reason presents to change.

[parkplace33]

Originally Posted by Rhotchkiss

+2 (coming from the consignor with the most to lose and a bidder who won a very rare and expensive card that will almost certainly not come up again for sale for many years).

The people most impacted understand and are satisfied with how ML is handing it. The situation sucks and is unfortunate, but there is no perfect answer. That said, I am sure that ML proceeded on the advice of counsel, the insurance company, the cops, etc.

I would love for ML to comment on this, especially the last sentence. Maybe a statement will be forthcoming.