Heritage Auctions Lawsuit

[Jim VB]

Originally Posted by Peter_Spaeth

If it helps them with consignors and doesn't hurt them with buyers, why isn't it a good policy?

Peter and Adam,

Aren't you guys making the point that what Heritage is accused of doing leaves them firm footing LEGALLY?

If so, I don't think most of us are disputing that. I'd like a better understanding of exactly what it is they're doing, but I do think they are probably within the letter of the law.

However, if this pseudo-bidding is functioning as a hidden reserve, then I think it needs to be spelled out more clearly.

It doesn't sound to me like this lawsuit will go anywhere, but it may have exposed something most bidders were unaware of.