I will not participate in Legendary Auctions

[camlov2]

I don't plan on bidding on the next auction, lets just say I haven't bought much lately.

It is interesting to me that this thread combines support for those who haven't gotten paid and a boycott of the auction house that owes them money.

Isn't their survival the only way these people might get paid?

[HRBAKER]

Originally Posted by camlov2

I don't plan on bidding on the next auction, lets just say I haven't bought much lately.

It is interesting to me that this thread combines support for those who haven't gotten paid and a boycott of the auction house that owes them money.

Isn't their survival the only way these people might get paid?

I'm thinking that Legendary's consignors are hoping the proceeds are used to pay them.

[timn1]

camlov, the two positions are not contradictory. When I make a decision to place a bid with an auction house, I'm not doing it primarily to help their consignors. Nobody is.

Let's just say: I hope Legendary survives long enough that all the previous consignors who have so far been stiffed will get paid.

But more than that, anybody who is still consigning with Legendary after all these stories is on their own as far as I'm concerned. I'm not implying they won't be paid, but who knows what kind of action their stuff will get.

[Misunderestimated]

Could someone please explain the SGC-Foreman angle on the "Legendary Mastro mess" (double entendre intended)?

[Jim VB]

My understanding is that Mastro has sued Forman (not SGC) claiming that he owes Mastro around $400,000. They claim he was the winning bidder in some of their auctions and has not paid. Normally, an unpaying bidder would cause minor problems. They'd just offer the lots to the underbidders and sue for the difference. Or, they would put the cards up in the next auction and sue for the difference. This time is different.

Apparently, Mastro did not hold the lots for payment, but shipped them out to Forman.

Forman has several counter claims including that he was shill bid on the lots and that Mastro has not netted out his bill against money they owe him.

Mastro also has other suits going against other non-paying bidders. They claim these lack of payments have led to their inability to pay consignors due to cash flow issues.


Again, this is my understanding only. Several on this board have more detailed knowledge of the situation. If my understanding is incorrect, please drop me an email and I will correct it.

[Jim VB]

.

[Bamacollection]

I don't believe not bidding is the correct approach, at least for me. A no-consignment list is more my style. As far as I know, they have yet to receive payment for an auction and fail to deliver the winnings. Shilled auctions are a tough pill to swallow, but we all had to pull the trigger on our "Max Bid" entries. Yeah, if and when it is proven, those of us who won items at our max will feel a little more slighted than we do now. But, consider the people who advanced their items to Legendary, such as Matt above, who can't do anything but watch and pray for the best. I don't know if I can say I would be able to not bid on something I need at a tremendous steal just because I joined a list. I feel many of you will encounter the same situation. How many of you who have stated not to bid will still brouse the auction? How many of you can honestly say you wouldn't buy a sought after item at 60%, 50%, or less of known value? If you all can do what you say, you are strong hearted people. I think Tbob said it best in another thread, "Who could pass it up at that price..." or something to that nature.

So, I will not join or say I will join a no-bid list. But, I will swear on my life never to consign anything to Legendary. This is the list I know I can stay on without falter.

Lance

[mikedenero]

I will not participate (and have not participated).