Memory Lane sold cards they didn't have per SCD

[Carter08]

Originally Posted by Aquarian Sports Cards

Let's put it this way, I'm not 100% but if I had been a consignor, my knee-jerk reaction, I would've wanted my stuff back, but I could've been talked out of that if presented with a compelling argument.

I think he meant if you were a consigner of one of the stolen items.

[Republicaninmass]

Originally Posted by Carter08

I think he meant if you were a consigner of one of the stolen items.

Is this a typo? How on earth would you get them back?

Also, I believe just because they were stolen/missing, they are still "property " of the auction house. If they found them the day the auction closed or are recovered now, the auction house still has ownership.

[Johnny630]

[QUOTE=Peter_Spaeth;2434504]Who knew about it before the closing and where did you read that?[/QU

A couple dealers who were set up at the Strongsville show knew of the theft and advised me so...they were told several larger consignments where stolen from the show in their current auction. They did not advise which cards specifically were stolen... they knew stuff was stolen but they were not told which exact cards so it leads one to wonder.

[Carter08]

Originally Posted by Republicaninmass

Is this a typo? How on earth would you get them back?

Also, I believe just because they were stolen/missing, they are still "property " of the auction house. If they found them the day the auction closed or are recovered now, the auction house still has ownership.

The question is what would you want to have happen with the auction if your item in it was stolen prior to close.

[ThomasL]

Originally Posted by Carter08

The question is what would you want to have happen with the auction if your item in it was stolen prior to close.

I would want to have been told asap of it, and at the very least my stolen lots pulled immediately from the auction

[Aquarian Sports Cards]

Originally Posted by Republicaninmass

Is this a typo? How on earth would you get them back?

Also, I believe just because they were stolen/missing, they are still "property " of the auction house. If they found them the day the auction closed or are recovered now, the auction house still has ownership.

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)

[Aquarian Sports Cards]

Originally Posted by Carter08

I think he meant if you were a consigner of one of the stolen items.

If that's what he meant, I'd probably be all for keeping the auction running. Of course telling the consignors of stolen items invites all sorts of possible shenanigans with bidding to run up the settlement.

[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

[ValKehl]

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)

It is my understanding that generally, a consignor retains title (ownership) to his consigned items until they are sold and paid for. Of course, any specific consignment arrangement can be different in this regard. My REA consignment agreement states that if a winning bidder does not pay within a reasonable time, REA has the option of paying the consignor, in which event REA will then have title to the consigned items.

[Aquarian Sports Cards]

Originally Posted by ValKehl

It is my understanding that generally, a consignor retains title (ownership) to his consigned items until they are sold and paid for. Of course, any specific consignment arrangement can be different in this regard. My REA consignment agreement states that if a winning bidder does not pay within a reasonable time, REA has the option of paying the consignor, in which event REA will then have title to the consigned items.

we have a similar clause with options in case of non-payment.