Memory Lane sold cards they didn't have per SCD

[parkplace33]

Originally Posted by G1911

For the fourth time, I will repeat my request for an example of any insurance policy, demand or decision in all of human history anywhere in the world that a company run a fake fraudulent auction to value items.

This narrative so many of you are pushing makes absolutely no sense. What insurance company has ever done this? How are they paying out $2M but not securing the assets if recovered?

Please, correct me! All I’m seeing is claims that make no sense with no precedent. The story should make sense.

You won't get it, nor I do I believe a statement is coming out from ML. We only can speculate.

The bottom line for me is what I said earlier. An AH in 2024 ran an auction with cards that were stolen. I can't belive that.

[SyrNy1960]

This thread started out in a straight line. This is how I feel now.

Will be interesting to see how this whole thing plays out.

[G1911]

Originally Posted by parkplace33

You won't get it, nor I do I believe a statement is coming out from ML. We only can speculate.

The bottom line for me is what I said earlier. An AH in 2024 ran an auction with cards that were stolen. I can't belive that.

I definitely won't get it, which is really the point. No insurance company works this way and everyone knows that, they can't use an example to put me in my place because there isn't one to use.

Just as we all know that if I did the exact same thing in the BST, not a single person would defend me (nor should they). I would almost certainly be banned (justly so) for doing the same thing. When a filthy plebe with the wrong ideas about consistently applied rules does it we would all know this is wrong. But lies and fraudulent auctions are just fine if they are run for the gain of the right people. This is precisely why this hobby will never be cleaned up - the corruption is a desired feature, not a bug.

[Peter_Spaeth]

Originally Posted by parkplace33

You won't get it, nor I do I believe a statement is coming out from ML. We only can speculate.

The bottom line for me is what I said earlier. An AH in 2024 ran an auction with cards that were stolen. I can't belive that.

You make it sound like they were deliberately trying to move stolen goods. Please.

[parkplace33]

Originally Posted by Peter_Spaeth

You make it sound like they were deliberately trying to move stolen goods. Please.

Not saying that. I am saying that they auctioned off cards that were stolen and not in their possession at the time of the auction.

[Peter_Spaeth]

Originally Posted by parkplace33

Not saying that. I am saying that they auctioned off cards that were stolen and not in their possession at the time of the auction.

Some cards were stolen after they started an auction, and they made a decision to run the full auction to completion to simplify what otherwise could have been a litigious and complicated process of establishing values in case the cards were not recovered and compensation needed to be paid to consignors. Sure, one can fairly criticize that, but let's characterize it accurately.

[nolemmings]

Assuming the cards are not located soon and returned in the same condition, then there likely will be an insurance payout– my guess would be under multiple policies. It is interesting and a bit tricky as to what happens from there if the cards are recovered, particularly if this occurs ad hoc over time. As a general matter yes, the insurer who pays for the loss would be considered the owner entitled to possession once the cards are found. However, I would imagine that before any claim is paid, there will be a written understanding among all concerned regarding any rights to the cards. I can imagine there are myriad scenarios as to who has rights to buy, who must sell, and the process by which the card will be transacted. I would also think that the insurance company could assign its rights to someone for a price and be done with it. Again, a much cleaner process if the entire group is found at once and relatively soon, but a cluster**** if these cards pop up one or a few at a time over the next ten years.
Also keep in mind law enforcement’s role. It is my understanding that if these are recovered and held by law enforcement, the applicable agency may have rules regarding what it requires in the way of authorizations before it will release stolen property. Maybe not a problem by the end of the day for someone relieved to finally get his card, but another party to deal with nonetheless.