Memory Lane sold cards they didn't have per SCD

[parkplace33]

It will be be interesting to see what material auction houses bring to the National and other cards shows this year and if this theft (and other thefts) affects that. I expect them to bring less that what they have brought in the past. The risk now outweighs the gain in my opinion.

[Aquarian Sports Cards]

Originally Posted by parkplace33

It will be be interesting to see what material auction houses bring to the National and other cards shows this year and if this theft (and other thefts) affects that. I expect them to bring less that what they have brought in the past. The risk now outweighs the gain in my opinion.

1. I doubt it has any impact on what is brought.

2. I don't doubt it will have an impact on HOW it's brought.

The only exception to point one might be if a consignor requests his items not to travel, but that really isn't in their best interests as promoting the items is the real job of the auction company.

[Jewish-collector]

This whole situation might mean auction houses will never bring the really great cards to showcase. Maybe they will have enlarged heavy cardboard photocopies or power point presentations.

[Yoda]

A global outfit like Great Western will have a master policy in place that will provide a difference in conditions and limits over local hotels everywhere. The local GW hotel to where the cards were shipped will have coverage locally as well as under the master policy. Once the property claim has been settled, the carrier is legally free to subrogate against BW for their failure to protect guests lives and (ML) property, their primary legal obligation. The carrier will seek subrogation not against the local hotel but the parent co. Of course, this assumes the cards are never recovered.
GW also has the right to subrogate against anyone involved in the theft. For example, if the thief is apprehended then GW could start litigation against him, although good luck on that one. He probably doesn't have a pot to piss in.
Since it is a police matter as well, it is going to be a complicated claim. The statutory state Innkeepers Liability Law is a minor piece in all this. It is more designed for the guy who claims that his load of dirty laundry has been lost than the lady who claims her precious 10K diamond ring was stolen in the hotel. That's why the limit is so low.

[Snowman]

Originally Posted by Aquarian Sports Cards

1. I doubt it has any impact on what is brought.

2. I don't doubt it will have an impact on HOW it's brought.

The only exception to point one might be if a consignor requests his items not to travel, but that really isn't in their best interests as promoting the items is the real job of the auction company.

I would argue that the added value for the consigner of having their cards brought to a show for display is very low. Likely near-zero, especially if the auction house provides good scans along with complete and accurate descriptions.

I think the added value is almost entirely for the auction house itself. They want to display the cards as bait so they can lure in other high end items for consignment.

That's not intended to be a criticism of the AH. They have to generate business and it's an effective mechanism for doing that. But they're definitely leveraging the property of their consigners to build their business.

I think this is also why, assuming the reporting is accurate, that most of us think that the carelessness with how ML chose to ship and handle these cards (which belonged to their customers and not them) is the greater offense in this entire debacle.

[Seven]

My biggest fear concerning these cards, is that they never see the light of day again, which would be a tragedy for the hobby, especially that Mello-Mint Cobb. I'm sure many of the cards can be cracked and reslabbed, but that one is so rare I feel like If someone tried it, they'd be outed immediately.

[LOUCARDFAN]

I love that auction houses bring items to shows because there have been a few times being able to see the item in person just cemented the fact that I had to have that particular item.

The question is did ML inform anyone at BW that a package was being shipped to them? If so, did they tell them the value?

The amount of employee turn over at a cut rate hotel like BW is huge so unless the owner (if privately owned) or the General Manager was contacted and informed then ML was just playing with fire. Hotels like this aren't equipped to protect valuables like that. Does anyone expect a hotel desk clerk making $13 an hour is going to care or protect a package. Hell, I can't tell you how many hotels I have walked into and there isn't anyone at the desk and it takes someone a couple of minutes or more to actually show up.

Even if they did inform the hotel that a very valuable package was being shipped to them it just opens the door for a low wage hotel worker to set up the theft.

Is it common for auction houses to ship collectibles to a hotel like this for a show? I can't imagine that it is. I just don't understand the thought process of ML to send someone else's property like this.

[Snowman]

Originally Posted by LOUCARDFAN

Is it common for auction houses to ship collectibles to a hotel like this for a show? I can't imagine that it is. I just don't understand the thought process of ML to send someone else's property like this.

No, of course not. Only an idiot would do that. Or more specifically, only an idiot that doesn't give two shits about their customers that is.

[Leon]

When I sold my 1st collection, I wanted it displayed at shows. A good bit of it was at the 2015 National, as I recall.

Originally Posted by Snowman

I would argue that the added value for the consigner of having their cards brought to a show for display is very low. Likely near-zero, especially if the auction house provides good scans along with complete and accurate descriptions.

I think the added value is almost entirely for the auction house itself. They want to display the cards as bait so they can lure in other high end items for consignment.

That's not intended to be a criticism of the AH. They have to generate business and it's an effective mechanism for doing that. But they're definitely leveraging the property of their consigners to build their business.

I think this is also why, assuming the reporting is accurate, that most of us think that the carelessness with how ML chose to ship and handle these cards (which belonged to their customers and not them) is the greater offense in this entire debacle.

[parkplace33]

For those who have consigned items with AHs, did they ask you if they could bring your items to shows or do they just have the power to do that as part of the contract?

[Snapolit1]

Originally Posted by parkplace33

For those who have consigned items with AHs, did they ask you if they could bring your items to shows or do they just have the power to do that as part of the contract?

Don’t recall it ever being raised, either orally or in the contract.

Up until this debacle, I would have been thrilled if an AH dragged my items to shows. Great advertising. Now… not so much.