Quote:
Originally Posted by Aquarian Sports Cards
Auction companies never have ownership of a consignor's items (unless they reserve the right to bid in their own auction and actually purchase them)
|
Hi Scott! I'm just playing devils advocate, obviously it totally sucks for both consignor and buyer. Some of the cards are basically irreplaceable, but at least there is some sort of hare brained value placed on them. As Ryan mentioned, overall was about what he expected. Imagine if insurance looked up last sales....yikes!
I'd have to check my Memory Lane consignment agreement for actual terms, but I'm assume ML DOES own rights ( to sell, possibly mentiined as dispose, at a minimum) to be able to sell the card, at their discretion, as long as the consignor is paid. Otherwise, if the sales were weak, the consignor could just "demand their property back". So I am finding flaw in your logic that the auction houses never have "ownership" of their consignments.
If the cards appear, can the consignor demand them back, or is ML legally bound to sell to the highest bidder? They would be returned to the "owner" or posessor? Strange situation
Possession is 9/10ths of the law 🙄