Anyone lose their cards to/from an auction house?

[Tsaiko]

I hinted at this question in the "Anyone lose a package through PSA?" thread, but didn't get a response, so I want to try again.
I'll assume, based on the info from the other thread, that PSA is not a large enough organization to carry their own insurance, but apparently auction houses, at least some, are.

These are the shipping instructions from one auction house and I've heard these instructions from two others, so I'll assume it's pretty standard.

"Send Fed Ex priority overnight with signature required. Do not put a value on the Fed Ex slip. Fed Ex does not insure collectibles. This package will be insured by our Collectibles Insurance Auction House Policy underwritten by "xxxxxxxxxxxxx"." And they go on to give their FedEx number.

The above quote was in reference to a shipment for over 700 cards, valued over 6 figures.

So has anyone had to deal with a lost package to or from an auction house?

If so, what type of proof was needed and how long did it take to settle a claim? All I can do is scan everything I pack, but someone could have scans and only send newspaper. On the other hand, what happens if an auction house sends you cards, using their insurance, and the FedEx truck gets in an accident and burns?

These scenarios seem to be fraught with the same uncertainties that were brought up in the PSA thread, so I'm still wondering what's the safest way to ship cards, especially large amounts to grading companies and auction houses. From my research, registered mail seems to be the safest, but again, what about success in filing a claim? Sending 100k worth of cards via Registered Mail would take 4 packages each insured for 25k at a cost of about $50 per package, which would be well worth it if I knew I would be reimbursed if something happened to the package.

[t206hound]

If I needed to get 100k of cards from point A to point B, I would think the optimal way to transport them would be in person. Worst case for a round trip flight anywhere in the continental us would be $500.

[jezzeaepi]

I think walking around with 100k$ is easier said then done. I would probably get singled out by the TSA for looking so nervous, lol.

I think registered mail is the best way. From what I understand they have a very secure system to insure that nothing is ever lost.

[Griffins]

About 7 years ago I won a card in a Superior auction, and sent payment. A week or so later FedEx delivered a package and it didn't feel right. I had the driver stay and opened it in front of him to find an empty package.
I contacted the auction house and was told they would investigate. After a week or so and a few calls they told me they had shipped the card and it wasn't their problem.
After a few more weeks the head of the auction house told me if he refunded my money he'd be out both the card and the $1700 and that wouldn't be right. When I countered that that was exactly the position I was in he had no response but said he would look into it.
3 months later I still had no restitution and was about to file in small claims. The auction house stalled but finally called and said they wanted hobby references, since they didn't believe that I had gotten an empty box. I provided them with a dozen or so, basically a who's who in the hobby.
3 weeks later I'd heard nothing, and by chance a friend called and I told him about it. He called on my behalf and got them to agree to send me a check.
About 10 days later and 2 more calls it finally showed up. I'm sure had it not been for Paul Moss stepping in on my behalf I would've had to sue them. While I had paid for shipping and insurance (I assume their excessive shipping included insurance) I was told they didn't have insurance and the shipping from them was at my risk.

I would never send anything of value via FedEx. Say what you want about the USPS, but IMO registered mail is the safest way to go.

FedEx lost a $15k prototype from a client, and never paid off. A few years ago a plane burned on the runway (I believe no one was injured) and the entire cargo was lost. It happens, but from my experience they never find themselves responsible. The service was designed to get escrow papers delivered quickly, not for shipment of goods.

Anthony Nex

[sb1]

At Brockelman & Luckey we carry private insurance that covers both incoming and outgoing packages as well as material on premise while in our possession. The policy allows for various means of shipping, UPS, FEDEX, USPS, etc, each having it's own parameters of shipping depending on value. Most require a signature AND overnight shipping if the value exceeds a certain amount.

Here is the info for USPS for example:

Up to $400 – First Class, Priority, Parcel Post - No Signature Required

Up to $2,000 – Signature Required

Up to $25,000 – Registered or Express Mail – Signature Required

I can assure you for a 7 figure consignment or purchase we will be on a plane to anywhere the person may be!!

Scott

[steve B]

The risk of a truck or plane being destroyed is the same for any carrier.

A large portion of express and priority mail has actually been carried by FedEx since 2001.

Steve B

[Tsaiko]

If I needed to get 100k of cards from point A to point B, I would think the optimal way to transport them would be in person. Worst case for a round trip flight anywhere in the continental us would be $500.

Taking that to the extreme would mean RT for grading and RT to auction, not to mention rental cars, hotels, missed work and sweat due to nerves.

After a week or so and a few calls they told me they had shipped the card and it wasn't their problem.

While I had paid for shipping and insurance (I assume their excessive shipping included insurance) I was told they didn't have insurance and the shipping from them was at my risk.

Thanks for sharing your, what I'm sure was a painful, experience! The two sentences I've quoted above just make me say "WOW, my worst fears."

The risk of a truck or plane being destroyed is the same for any carrier.

So let's say this happens during a shipment from an auction house, who are covered by their in house insurance, does the insurance pay the auction house, then go after the carrier for reimbursement?

I'm a big supporter of registered mail.

I think registered mail is the best way.

I'd be on an airplane either dropping off my package or doing local pickup.

Registered™ seems to be the safest. Maybe safer than driving to the airport, going through security and holding onto your bag in flight while using the restroom

I can assure you for a 7 figure consignment or purchase we will be on a plane to anywhere the person may be!!

Missed it by one figure

[tbob]

Although the thread was originally asking "have you ever lost a card to or from an auction house," I once lost a card while AT an auction house. I consigned a T207 set over 10 years ago and the auction house lost the Lowdermilk which was in around excellent condition (it was not slabbed). Apparently it was accidentally "thrown away" while being photographed. When they discovered their loss, they called immediately and they agreed to what I felt was a reasonable and fair price and quickly sent a check to me in that amount. I was ok with it but regretted that the one of the three "key" cards in the set was gone and the set became a near set. Still, I appreciated the way the loss was handled by Bill Mastro.
As far as shippping valuable cards goes, I always use registered mail. I agree with Barry, it is the best.

[Leon]

Originally Posted by Tsaiko

Missed it by one figure

B and L will hop on a plane for a 6 figure consignment too, not just a 7 figure one. The 7 figure consignment might be where we pull up in a Brinks truck .