Mastro consignors not paid yet?

[slidekellyslide]

I think somewhere along the line they started robbing Peter to pay Paul...they also placed too much trust into big customers...this probably was no problem while the economy was humming along. I'm guessing this will eventually go to court and the full story will come out.

[Leon]

Mastro Auctions, Inc. v. Fisher

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Plaintiff:	Mastro Auctions, Inc.
Defendant:	William Fisher
Case Number:	1:2008cv06108
Filed:	October 24, 2008
Court:	Illinois Northern District Court
Office:	Contract: Other Office [ Court Info ]
County:	Du Page
Presiding Judge:	Honorable George W. Lindberg
Nature of Suit:	Contract - Other Contract
Cause:	Diversity
Jurisdiction:	Diversity
Jury Demanded By:	28:1391 Personal Injury
Amount Demanded:	$113,000.00

[oldjudge]

Leon--What does this mean? Do you have any idea what the case relates to?

[Leon]

I am just guessing that by the looks of it Bill Fisher, previously aka Yorkstown on ebay, allegedly owes Mastro money? I have done (a few years ago) a couple low 5 figure deals with Bill and never had an issue...

[Kenny Cole]

It was basically a breach of contract action by Mastro against Mr. Fisher. According to the complaint, he bought $466k or so of items in the April 2007 auction and failed to pay for $112,000 of them. The case was dismissed without prejudice in February of this year, apparently because the defendant filed bankruptcy.

[oldjudge]

This auction business is a mine field.

[three25hits]

Originally Posted by oldjudge

This auction business is a mine field.

Not if you shift all the risk onto the consignors.

mastro/legendary has had plenty of opportunity to pay their consignors. They choose not to. And it stinks.

[drc]

This explains why, despite some collectors' applauding of the practice in the names of quick shipping and good customer service, I never thought it such a great idea for an auction house to ship winnings before receiving payment.