Memory Lane sold cards they didn't have per SCD

[Republicaninmass]

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 🙄

[Aquarian Sports Cards]

Originally Posted by Republicaninmass

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 🙄

Well a contract to sell gives the right to sell to the auction but they're still not technically ever the owner.

It's probably unnecessary but we have language in our contract that says the consignor agrees that to pull an item we must be in agreement, so people can't just flake out and change their mind late in the auction if they're unhappy.

7. This contract is to remain in full force and cannot be canceled without the agreement of both parties

[Beercan collector]

Originally Posted by Aquarian Sports Cards

Well a contract to sell gives the right to sell to the auction but they're still not technically ever the owner.

It's probably unnecessary but we have language in our contract that says the consignor agrees that to pull an item we must be in agreement, so people can't just flake out and change their mind late in the auction if they're unhappy.

7. This contract is to remain in full force and cannot be canceled without the agreement of both parties

That is some refreshing transparency