Memory Lane sold cards they didn't have per SCD

Aquarian Sports Cards · #1 05-20-2024, 01:07 AM

Quote:

Originally Posted by FrankWakefield

Scott / Aquarian...

I don't see how that clause 7 of your contract can be stretched to say that unless buyer and seller agree to pull a lot from the auction, then it cannot be done and you must continue with a lot's auction when you no longer have the item; and that as a seller you are authorized to defraud bidders and an eventual winner by accepting bids when you well know that you don't have the item.

Regardless of clause 7, you know that's not right.

Context my friend. Someone asked a specific question about requesting items back. I was in no way saying what you seem to think I was.

Snowman · #2 05-20-2024, 02:33 AM

edited

steve B · #3 05-20-2024, 08:56 AM

Well, that's been interesting.

Some industries have peculiar and particular defintions of things that seem off to people not in that industry.

I think that's what we're seeing here.
There's a dictionary definition of a word, then there's how that act is legally defined. And they don't quite match.

My wife is in computers, and we argue like this fairly often. My all time favorite one was a warning that read "virtual memory minimum too low"
WTF. how can a minimum be too low?!?!
Apparently it actually means that the virtual memory was set from X to Y and that X wasn't enough even if Y was more than plenty. Somehow even with my needs falling well within that range, it caused a problem. Until she got tired of me complaining and ridiculing whoever had written that and changed the minimum.

Been there on a very small scale. Won a small lot of cards on Ebay at a great price. The seller cancelled after, saying they'd sold the cards over the weekend and just didn't get around to removing the auction. (yeah right)
Did they allow a sale of something they didn't have? maybe? at least thar was their claim.
Did I feel ripped off? Yes, especially since their solution was to offer a discount on their very sketchy autographs.
Did I report them to ebay? Yes, and while they were off ebay soon after I doubt it was because of me.

Even if there was enough money involved, which there wasn't could I win a suit? I'm thinking no, because they had a borderline plausible explanation and I wasn't out any money.
Sort of the same thing here.

gunboat82 · #4 05-20-2024, 09:44 AM

Quote:

Originally Posted by steve B

Even if there was enough money involved, which there wasn't could I win a suit? I'm thinking no, because they had a borderline plausible explanation and I wasn't out any money.
Sort of the same thing here.

Yes, that's the long and short of it. There's harm to Memory Lane bidders kept in the dark in a very general sense (e.g., wasted time, opportunity cost), but not "compensable damages" in the practical and legal sense.

That's why most of the comments about Memory Lane's approach have been focused on their reputational hit, rather than actual legal consequences. They picked the approach that best served their consignors (to whom they owe a fiduciary duty), at the expense of their customers (where the relationship is defined by boilerplate terms of bidding).

I think Memory Lane probably made the correct call from a fiduciary perspective. They also made it clear that they're willing to deceive customers and waste their time if they decide it's in the company's financial interest. Their customers are entitled to be upset that they're on the losing side of that calculus, even if they can't prove calculable damages.

Peter_Spaeth · #5 05-20-2024, 10:01 AM

I doubt there will be much reputational consequence.

gunboat82 · #6 05-20-2024, 10:21 AM

Quote:

Originally Posted by Peter_Spaeth

I doubt there will be much reputational consequence.

Speaking for myself, their reputation has taken a big hit in the sense that I'll always think of Memory Lane as the bumbling auction house that shipped seven figures worth of cards to a motel and put themselves in a situation where concealing material facts from bidders was their best option.

But their reputation probably won't stop me from bidding again if I see something I really want that I can't get somewhere else. Sort of like the collectibles version of "Too big to fail." If consignors keep giving them cool stuff, I'll hold my nose and cross my fingers.

Peter_Spaeth · #7 05-20-2024, 10:23 AM

Quote:

Originally Posted by gunboat82

Speaking for myself, their reputation has taken a big hit in the sense that I'll always think of Memory Lane as the bumbling auction house that shipped seven figures worth of cards to a motel and put themselves in a situation where concealing material facts from bidders was their best option.

But their reputation probably won't stop me from bidding again if I see something I really want that I can't get somewhere else. Sort of like the collectibles version of "Too big to fail." If consignors keep giving them cool stuff, I'll hold my nose and cross my fingers.

Stuff. It overrides almost anything. I think most if not all will do the same.

dstudeba · #8 05-20-2024, 11:09 AM

Quote:

Originally Posted by gunboat82

But their reputation probably won't stop me from bidding again if I see something I really want that I can't get somewhere else. Sort of like the collectibles version of "Too big to fail." If consignors keep giving them cool stuff, I'll hold my nose and cross my fingers.

I see this comment often, but how often does an auction house truly have something that is so rare that it overcomes a negative reputation? In all the years Memory Lane has been running auctions they only had one item that I had to have enough for me to hold my nose.

Goldin has never had an item that was so rare and desirable that I would win it from them.

parkplace33 · #9 05-20-2024, 11:24 AM

Quote:

Originally Posted by Peter_Spaeth

I doubt there will be much reputational consequence.

Concur, onto the next auction!

Peter_Spaeth · #10 05-20-2024, 11:27 AM

Quote:

Originally Posted by parkplace33

Concur, onto the next auction!

LOL. Not for me, but I wasn't bidding before either.

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Memory Lane	calvindog	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	5	08-13-2017 01:01 AM
Memory Lane - Uncut W516 Strip Cards	T206Collector	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	0	12-20-2011 03:20 PM
Memory Lane	YankeeCollector	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	12	08-22-2011 03:28 PM
You would think...(Memory Lane)	mintacular	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	12	03-01-2011 12:15 PM
Memory Lane Selling Mint graded cards??	Archive	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	7	11-08-2007 04:50 PM